The GDP produced by Latinos in the U.S. in 2015 was $2.13 trillion

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Angela

Latino Gross Domestic

Product (GDP) Report

Quantifying the Impact of

American Hispanic Economic Growth

By Werner Schink and David Hayes-Bautista

The NiLP Report (September 7, 2017)

To download the report, click here

 

To respond to questions about the nature of Latino contributions to the United States, the Latino Donor Collaborative commissioned original research, the first of its kind, which has produced the Latino Gross Domestic Product (GDP) Report. It presents a factual view of the importance of Latinos to our economy, for all Americans to understand, in business, non-profit organizations, politics, etc.

We thought that Latinos were powering in the economy, but were pleasantly surprised to discover what is actually happening: 

• 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. The Latino GDP would trail only the U.S., China, Japan, Germany, the U.K., and France.
• Of the top ten economies, it would be the third-fastest growing GDP.
• The U.S. Latino GDP is growing 70% faster thant the country's non-Latino GDP.
• Latinos accounted for 70% of the U.S. work force's increase in the first half of this decade.
• As young Latinos enter the work force 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.

The common perception of Latinos being a burden to U.S. society is utterly wrong. To the contrary, Latinos are the element most needed to fuel the growth of this country. 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.

Werner Schink is Co-Founder and CEO, Latino Futures Research

David E. Hayes-Bautista is Distinguished Professor of Medicine, David Geffen School of Medicine at UCLA