The Impact of America’s Hispanic Economic Growth

POSTED ON Mar 15, 2018

The Latino Gross Domestic Product Report is out and the GDP produced by Latinos in the United States is as high as $2.13 billion. The research, which was commissioned by the Latino Donor Collaborative, presents a factual view of the importance of Latinos to the U.S. economy, in business, non-profit organizations, politics, etc.

Key points of the Latino GDP Report

- The GDP produced by Latinos in the U.S. in 2015 was $2.13 trillion.
- If it were an independent country, the Latino GDP would be the 7th largest in the world, larger than the GDP of India, Italy, Brazil or Canada.
- Of the top ten economies, it would be the third-fastest growing GDP.
- The Latino GDP trails only the U.S., China, Japan, Germany, the U.K., and France.
- Latinos accounted for 70% of the U.S. work force’s increase in the first half of this decade.
- As young Latinos enter the workforce and the older non-Latinos leave it, the Latino GDP will account for an increasing portion of the total U.S. GDP growth, projected to be 24.4% of total US GDP growth by 2020.

According to the report, the common perception of Latinos being a burden to U.S. society is wrong.

To the contrary, all Americans have benefitted from the $2.13 trillion contribution the Latino GDP makes to the country and should take steps to make sure it continues, the report says.

On a related note, Hispanic Marketing 101 noted the Latino marketplace has nearly doubled in size and tripled in power over the last 20 years.

According to HM 101, Latino products are hotter than ever. For example, Mexican foods are the most popular cuisine in America.

“On the cultural side, we’ve also seen Latino art and music rapidly increase. With the massive success of the movie Coco I only hope we will see more Latino-themed movies and TV shows being funded.,” HM 101 said.

In the year 2000, around 1,500 to 2,000 Latino authors were published the USA. Today there are 25,000 to 30,000 Latino authors – and sales are increasing.

“Perhaps the greatest thing is the potential,” HM 101 added. “We don’t know where the market will be in another decade, but we do know it will be much larger and much more important than today.”