U.S. Latino GDP ranks 5th largest in global economy
09/28/2023 00:40
The U.S. Latino economy is thriving, with recent reports from the Latino Donor Collaborative revealing that Latino GDP in the United States has reached $3.2 trillion. This figure positions it as the fifth-largest global economy if considered independently. According to L'ATTITUDE Co-Founder Sol Trujillo, the Latino population in the U.S. currently stands at around 65 million people, with projections to reach 100 million over the next 25 years. Trujillo told Yahoo Finance that this represents a significant portion of expected U.S. growth, so the broader economy needs to recognize the opportunities within the fast-growing Latino demographic. Trujillo emphasized that understanding and marketing to this cohort will be key for businesses to find success. "It's important for capitalists, people that have capital, that believe in investing where the growth is," Trujillo says, adding: "if you're a political leader, you should understand the value of the cohorts that may elect you or not elect you, or people that are going to grow the economy in each of your states or cities or... regions because the Latino cohort is now, through all the data that's here, it's driving the growth in virtually every state, 48 out of the 50 states." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
The U.S. Latino economy is thriving, with recent reports from the Latino Donor Collaborative revealing that Latino GDP in the United States has reached $3.2 trillion. This figure positions it as the fifth-largest global economy if considered independently.
According to L'ATTITUDE Co-Founder Sol Trujillo, the Latino population in the U.S. currently stands at around 65 million people, with projections to reach 100 million over the next 25 years. Trujillo told Yahoo Finance that this represents a significant portion of expected U.S. growth, so the broader economy needs to recognize the opportunities within the fast-growing Latino demographic. Trujillo emphasized that understanding and marketing to this cohort will be key for businesses to find success.
"It's important for capitalists, people that have capital, that believe in investing where the growth is," Trujillo says, adding: "if you're a political leader, you should understand the value of the cohorts that may elect you or not elect you, or people that are going to grow the economy in each of your states or cities or... regions because the Latino cohort is now, through all the data that's here, it's driving the growth in virtually every state, 48 out of the 50 states."
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.