Spain and the United States - Real Instituto Elcano

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96 SPAIN AND THE UNITED STATES Moreover the demographic pattern of the Hispanic population is fast changing: births in the United States are outpacing immigration as the main source of growth. 5 This is producing an important shift in the composition of the Hispanic population with second-generation Hispanics – the US born children of immigrants – emerging as the largest component of the population (see Exhibits 5.4 and 5.5). Given the substantial differences in earnings, educational attainment, fluency in English, and attitudes between foreign-born and native-born Hispanics, this shift has significant implications. For example, between 2000 and 2020, the number of second-generation Hispanics in US schools will double and the number in the US labour force will triple. Nearly one-quarter of labour force growth over that period will come from children of Hispanic immigrants. Exhibit 5.4 Immigrants Dominate Growth, 1970-2000 Exhibit 5.5 Second Generation Dominates Growth, 2000-2020 As well as strong growth in the population and disposable personal income of Hispanics, there has been significant growth in businesses run by Hispanics (see Exhibit 5.6). The number of businesses owned by Hispanics is forecast to reach 3.2 million by 2010. More than 40% of the companies are in services, 5. See The Rise of the Second Generation: Changing Patters in Hispanic Population Growth, by Roberto Suro and Jeffrey Passel (Pew Hispanic Centre, October 2003).
THE HISPANIC COMMUNITY 97 Exhibit 5.6 Hispanic-Owned Companies, Revenues and Employees 13% in commerce, 13% in construction, 7% in transport and 5% in the financial sector. The Hispanic community is a very complex, constantly changing population. This multifaceted community, which is light years away from the mistaken stereotype of a monolithic world, requires a multifaceted approach and not one that views the Hispanic community as homogeneous and assumes that because of the shared language Spain has privileged access to it and a natural lobby. The Hispanic community is often compared to a salad – in which each of the elements can be distinguished although they form part of a whole – as opposed to a melting pot, which dissolves the ingredients and achieves total assimilation. Spain, with its centuries of conflictive history with Latin America, has to tread very carefully if it wants to win influence and friends in the Hispanic community and forge links that over the long term could bear fruit, both politically and business-wise. Spain is keen to forge closer links with the Hispanic market, but it is hampered in its efforts by the country’s low profile in the United States and by the comparatively small presence of Spanish companies, although this, too, is starting to change. Spain’s exports to the United States account for less than 4% of the total (see Chapter 4) and its stock of direct investment in the country on a historical cost basis stood at $5.6 billion in 2004, compared with $148.2 billion for France, $163.3 billion for Germany and $21.5 billion for tiny Ireland (see Chapter 3). The Socialists under Felipe González, who governed from 1983 to 1996, established some contacts with leading representatives of the Hispanic community, particularly in the lead-up to the fifth centenary of the discovery of the Americas in 1992. This led to the publication of The Handbook of Hispanic Cultures in the United States, published in 1993 and 1994. It was the release, however, of the 2000 census, which was the first to recognise the
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Published by the Real Instituto Elc
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ACKNOWLEDGEMENTS This is the third
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CONTENTS Preface ..................
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PREFACE Once again, our long-time c
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CHAPTER 1 OVERVIEW Had it not been
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OVERVIEW 13 French of more than two
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OVERVIEW 15 committed Protestant, a
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OVERVIEW 17 money was used to purch
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OVERVIEW 19 Later, the runway at Ro
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OVERVIEW 21 a much more balanced re
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OVERVIEW 23 The position of the Eis
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OVERVIEW 25 The first such school i
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OVERVIEW 27 significant proportion.
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OVERVIEW 29 3,631 in 2003 (the four
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OVERVIEW 31 forces were not happy a
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OVERVIEW 33 It is fair to say that,
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OVERVIEW 35 sovereign Basque state)
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OVERVIEW 37 by those countries for
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OVERVIEW 39 was the main instigator
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OVERVIEW 41 magnitude needed in a
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150 Candela Hermanos Colomer Group
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152 Security & Safety Equipment BTV
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156 APPENDIX 6 FOREIGN DIRECT INVES
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