A new report released in September by the Latino Donor Collaborative (LDC) said that if the U.S. Latino community were a country, its GDP of $2.3 trillion would make it the 8th largest economy in the world.
The 2019 version of the LDC U.S. Latino GDP Report (full report below) concluded that the Latino GDP would be the third-fastest growing economy in the world, accounting for 24.4% of total U.S. GDP growth by 2020. It also noted that “Latinos are responsible for 82% of the growth of the U.S. labor force since the financial crisis.”
“They provide quantity and quality of workforce, and their upward mobility is comparable to Whites and Asians,” the LDC noted. “Additionally, Latinos pay taxes, believe in education, have a strong family culture, are law-abiding, optimistic, young and they serve our country. They are creative, risk-takers and resourceful and they create 87% of all new businesses in America.”
The LDC also provided a series of fast facts regrading the economic profile of the U.S. Latino community:
The 2019 study was authored by Dan Hamilton, Ph.D., Principal Investigator, CLU; Matthew Fienup, Ph.D., CLU; David Hayes-Bautista, Ph.D., UCLA and Paul Hsu, Ph.D., UCLA. A similar 2017 study by the LDC estimated the Latino GDP at that time to be around $2.13 trillion. Back in 2017, Latino USA dedicated an hour-long show to that initial study.