June 2021 – New York, NY
The United States is the second-largest Spanish-speaking country in the world, second only to Mexico, and already ahead of both Colombia and Spain. The Hispanic population is currently over 60.6 million, that’s 18.5 percent of the overall population, with over 43 million, or 13% of the total population speaking Spanish at home as a first language. And these numbers continue to grow. The US Census Bureau projects that the Hispanic population of the US will reach 28% by 2060.
U.S. Hispanic Population Growth & Projection
Data from the United States Census Bureau
Hispanic consumers in the U.S. control a total of $1.5 trillion in buying power, up 212% this decade, according to the Selig Center for Economic Growth at the University of Georgia. And, according to a 2019 study by California Lutheran University, Latinos may be the key to future U.S. economic growth.
- GDP among U.S. Latinos increased to $2.3 trillion in 2017, up from $1.7 trillion in 2010, a study found. On a compounded annual basis, that’s the third-highest growth rate among all global economies during that time.
- Some of the factors driving this outperformance are a high labor-force participation, large population growth and increasing consumer spending.
- “Latinos currently are and will increasingly become a critical foundation of support for the new American Economy,” the study says.
Increasingly, businesses are seeing the need to engage with their customers in their native language to provide better customer service, resolve issues faster, and create greater overall brand affinity. This is where not only the importance of bilingual support comes into play, but why leading businesses are specifically looking toward the nearshore for high-quality English/Spanish bilingual solutions.
Your contact center is the direct line to your customer whether conversing in English or Spanish, and there are limited places globally that can cater to bilinguals as much as the Caribbean and Latin America. KM² Solutions operates sites across six countries, including Colombia, Honduras, and the Dominican Republic. These are all top-tier bilingual locations that offer excellent English/Spanish bilingual options from talent pools of articulate, highly educated, problem-solving agents with diverse skillsets, neutral accents, and a strong affinity to U.S culture and its consumers.
The KM² Advantage
- Best destinations for North American-based companies and excellent bilingual language skills
- Geographical proximity to the U.S.
- Time zones better aligned with operations
- Cost-effective, competitive pricing
- High-quality English/Spanish bilingual language support, with neutral dialects
- Strong affinity to U.S. culture and its consumers
- A mix of empathy and soft skills to create personalization
- KM2 Solutions has deep and relevant experience across all major verticals, with 100% of its agents equally proficient in English and Spanish in its bilingual geographies.
About KM² Solutions
KM² Solutions ( KM2 Solutions ) operates contact centers throughout the Caribbean and Latin America, providing outsourced inbound and outbound customer service contact services for voice, chat, email, and mobile. KM² Solutions provides these services to clients in financial services, multi-unit healthcare, insurance services, travel & hospitality, eCommerce, technology & telecommunications, home services, and other sectors. The company provides clients with a host of solutions, including customer support and care, telesales & retention, claims management & processing, appointment setting & schedule management, loan origination & verifications, back-office processing, and technical support. KM² Solutions maintains PCI DSS compliance, completes a SOC 2 audit annually, and has a Compliance Management System that meets the FDIC standards.
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