KANSAS CITY, Mo. – The Latino and Latina populations are increasing contributors to the GDP of the U.S. – a key finding noted at the recent U.S. Hispanic Chamber of Commerce conference. In fact, the Latina GDP is growing at 2.7 times the rate of the non-Hispanic GDP.
In 2021, the Latino GDP in the U.S. topped $3.6 trillion, making it a bigger economy than the U.K., which has the sixth highest GDP in the world.
“This growth is a testament to the hard work and entrepreneurial spirit of the Latino population,” said David Hayes-Bautista, director, Center for the Study of Latino Health & Culture, UCLA David Geffen School of Medicine.
Hayes-Bautista and Matthew Fienup, executive director, Center for Economic Research & Forecasting, California Lutheran University, presented the U.S. Latina GDP Report in Kansas City.
The Latin community’s monetary influence in the U.S. has grown right alongside the overall demographic’s population growth; according to the Pew Research Center, there were 62.5 million Latinos in the U.S. as of 2021, accounting for approximately 19% of the total U.S. population.
The Latina GDP is rising especially fast, topping $1.3 trillion in 2021. If a state, it would be fourth in the U.S., trailing only California, Texas and New York.
From 2010 to 2021, the female Hispanic GDP has grown 51.1 percent, compared to 18.8 percent for all non-Hispanic males and females.
“The vitality of Latinas is creating socio economic mobility and a rising standard of living,” Fienup said. “They are attaining higher
levels of education and bringing energy into the workforce.”
Currently, about
55 percent of Latinas go to college. Fienup noted that “The number is probably higher, in that our research is based on census data. And not all check the Hispanic box.”
In 2024, Latinas are extremely proud of their heritage and celebrate it in the workforce. Many Latinas are entrepreneurs, or would-be entrepreneurs, (not to mention successful chefs, as noted in this recent Food Institute article) – and they’re proud to grow the influence of their community.