Report: U.S. Latino GDP tied with France, greater than Italy
Report: U.S. Latino GDP tied with France, greater than Italy
Russell Contreras at Axios
https://www.axios.com/us-latino-gdp-france-italy-economy-eaabc831-5f08-4cfb-853d-eb2b59d822a7.html
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The total economic output of U.S. Latinos reached $2.7 trillion in 2019 and would be tied for the seventh-largest GDP in the world if U.S. Latinos were an independent country, according to a report released Wednesday.
Why it matters: The report showed U.S. Latino buying power continues to grow and is driven by U.S. births, not immigration.
By the numbers: The detailed study by the Latino Donor Collaborative, a non-profit organization researching Latino issues, was unveiled at the L'attitude conference in San Diego. L'attitude seeks to connect venture capitalists with startups and pressure media to diversify.
* The study found that the 2019 U.S. Latino gross domestic product of $2.7 trillion had spiked from $2.1 trillion in 2015 and $1.7 trillion in 2010.
* The GDP growth from 2010 to 2019 for U.S Latinos outpaced Germany, the United Kingdom and Japan.
* Over the past two years, the growth of Latino GDP averaged 5.63%, double the rate of the broader U.S. economy.
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