Exciting news for Latino entrepreneurs and the broader community! U.S. Latinos’ economic output surged 13% to $3.6 trillion in 2022, making it the fifth-largest economy in the world if it were a country. This remarkable growth rate is second only to China, highlighting the formidable economic force of Latinos. The report by Latino Donor Collaborative and Wells Fargo credits high workforce participation and higher educational attainment as key drivers. Household wealth has also tripled over the past decade, although disparities remain. The Latino economy is expected to continue its rapid growth, surpassing Japan’s GDP this year and Germany by 2027. #LatinoEconomy #Entrepreneurship #EconomicGrowth #LatinoPower #BusinessNews
Marketing Director | Latina Brand Strategist | Speaker | Multicultural Marketing | Building Latino Positive Representation
Latinos are not just part of the U.S. economy—they are driving its growth. With a population of over 65 million, Latinos have been responsible for 75% of labor force growth over the past decade, contributing $3.6 trillion to the U.S. GDP and holding $3.78 trillion in purchasing power. Yet, brands invest only 4% of their marketing budgets targeting this influential cohort. Here’s more data to consider: * Latino-owned businesses saw a 4% annual revenue increase over the past decade, 1.5 times faster than other ethnic groups. * Latino households with incomes of $125,000+ grew by 81% from 2017 to 2022, compared to 53% for the general population. * Latinos make up 24% of U.S. box office ticket sales and spend 16% more on apparel than the national average. The economic influence of Latinos isn’t slowing down. If they were a standalone economy, they’d be the fifth largest globally, projected to surpass Japan and Germany by 2029. As businesses, we must authentically engage with this community—not just through products, but by incorporating the DNA of marketing: Data, Narrative, and Actions. At L'ATTITUDE 2024, I had the opportunity to listen to Michael Roca Roca of Omnicom Media Group, who presented the Data, Narrative, and Actions framework, along with Michael and Nancy Villanueva García from Interbrand, to unveil their latest report, "Brands and Latinos in the U.S.: The Opportunity for Brand Leadership." This comprehensive research highlights the immense opportunity for brands to build deeper, lasting connections with Latinos, the New Mainstream Economy. Download the full 2024 Latino GDP report here: https://lnkd.in/ery9sJQG Download the full Brands and Latinos in the U.S. report here: https://lnkd.in/dnCQwB7v #BrandLeadership #Lattitude2024 #LatinUS #TheNewMainstreamEconomy #LatinoGDP #multiculturalmarketing #marketing #alpfa