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In 2015, the GDP produced by U.S. Latino was $2.13 trillion. Additionally, according to the report released by The Latino Donor Collaborative (LDC), this GDP is increasing 70 percent faster than the country’s non-Latino GDP. The report, titled: “Latino Gross Domestic Product Report: Quantifying the Impact of American Hispanic Economic Growth” details the contribution and importance of Latinos to the American economy.
Gross Domestic Product (GDP) indicates a region’s growth and size. It is also used to measure future growth and as a comparison to other regions. There are currently over 56 million Latinos living and working in the United States and is the world’s seventh largest GDP—when compared to the top ten global economies. The overall size and growth of the Latino GDP is reflective of the Latino contribution to the American economy. Without the Latino GDP, the total U.S. GDP would’ve totaled $15.91 instead of 18.04 trillion in 2015.
Between 2010-2015, population growth was driven by a growth in the number of Latino U.S. citizens. Additionally, a 70 percent increase in the workforce was due to Latino involvement while Latinos, ages 18-24, comprise nearly one fourth of the men and women in uniform within the Marine Corps and Army.
Ana Valdez, Executive Director of the LDC, stated:
“Latinos are America’s new mainstream audience and it is our hope that this study will lead business and political leaders to take us seriously and invest in our continued growth.”
Ultimately, Latinos no longer live on the margins of the economy—they are the element most needed to fuel the growth of this country.