ECONOMY FOCUS UUSS L Laattiinono E Ecconomonomiicc O Ouuttpuputt:: $3.6 trillion By Hernando Ramírez-Santos a 吀栀e Latino Donor Collaborative (LDC) released its 2024 U.S. Latino GDP is projected to rank as the world’s fourth LDC U.S. Latino GDP Report, revealing the remarkable largest by 2029, surpassing Japan by the end of 2024 and economic growth of Hispanics in the country. 吀栀eir Germany by 2027. growth reached $3.6 trillion in 2022, far outpacing Despite comprising 19.5% of the U.S. population, the U.S. Lnational averages in key sectors. Latino cohort was responsible for 28.3% of total additions to 吀栀e report, sponsored by Wells Fargo and developed in national GDP between 2017 and 2022. collaboration with Arizona State University's W.P. Carey 吀栀e 10 largest state Latino economies, including California, School of Business, delves into Latino labor force participation, Texas, Florida, and New York, are all growing faster than entrepreneurship and future growth projections through 2029. non-Latino counterparts. “Every year, thousands of U.S. Latino business leaders U.S. Latino purchasing power is measured at $3.78 trillion. come together with a mission to learn how to use this data to in昀氀uence real change, create actionable plans to engage Latino ADDITIONAL HIGHLIGHTS audiences, and support economic policy. 吀栀e 2024 LDC U.S. Latino GDP Report continues to be invaluable for business Key Industry Sectors decision-makers who are motivated by data to inform their • Manufacturing accounted for the highest share of U.S. growth strategies,” remarked Sol Trujillo, Co-Founder and Latino GDP in 2022 at $457.4 billion, growing 48.4% Chairman of the LDC and L’ATTITUDE. compared to a 0.8% decrease in national GDP share. 吀栀e release of the new report kicks o昀昀 the 2024 L’ATTITUDE • Several other sectors contributed signi昀椀cantly to the Conference, taking place at the Manchester Grand Hyatt in San U.S. Latino GDP share, including: Diego from September 12 – 15. • Retail Trade: $270.3 billion (14.1% U.S. Latino growth L’ATTITUDE is the largest business event in the country vs. 8.9% national growth) focused on “吀栀e New Mainstream Economy,” helping executives • Real Estate and Rental and Leasing: $265.9 billion and business leaders understand the U.S. Latino cohort driving • Construction: $250.3 billion its growth and stay abreast of the latest economic trends and • Health Care and Social Assistance: $250.1 billion opportunities. 吀栀e conference was created as a platform to promote facts Labor Force and Population Growth and data to catalyze economic growth opportunities for all Entre 2021 y 2022, la población latina de EEUU aumentó un Americans in the 21st century. 1.65%, mientras que la no latina creció sólo un 0.08%. Incluye un aumento de 725,000 individuos en edad de U.S. LATINO ECONOMIC GROWTH trabajar, frente a la pérdida acumulada de 673,000 individuos Now valued at $3.6 trillion with an annual average real no latinos en edad de trabajar. growth rate of 4.6%, U.S. Latino GDP is the second-fastest En 2022, más del 68% de los latinos de EEUU participaban growing among the world’s ten largest economies, trailing only en la población activa estadounidense, frente al 62% de los no China and outpacing countries like India, France, Canada, and latinos. even the rest of the United States. 2222 NNOOVVEEMMBBEERR/ D/ DECECEEMMBBEER 2R 200224 4 AABBAASSTOTO..CCOOMM