We Have the Facts. It’s Time to Get Loud.

New data from three separate studies confirms, once again, that Latinos are the drivers of the U.S. economy.? We are proud of our contributions, but are we loud enough about it?? The time has come for everyone to learn the data — it is spectacular? —? and even more, to talk the data.? We can and must be a unified chorus that sings from the same song sheet.? Together, we can transform perceptions of Hispanics across the country once and for all.?

Last week, the Latino Donor Collective (LDC) released their most recent findings.? Here are a few data points that are simply extraordinary, even as we have watched our contributions trend upward year after year.?

Here are a handful of stunning facts from the new LDC findings:

• While our community makes up 19.5% of the population, we are responsible for 28.3% of the total additions to the national GDP from 2017 to 2022.? Latino purchasing power is now $3.78 trillion.? Latinos outpace growth of non-Latinos in terms of annualized income, consumption and purchasing power.?
• By 2029, the US Latino GDP is projected to rank as the world’s fourth largest economy.? We will surpass Japan by the end of this year, and Germany by 2027.?
• The resurgence of the manufacturing sector is propelled by Latino participation, with the highest Latino GDP among sectors in 2022 at $457.4 billion and with a growth rate of 48.4% YoY.?
• Latinos are not only leading in GDP growth, but also in entrepreneurship, innovation, productivity and labor force expansion.? In the past, we invested heavily in China and India in these areas.? Now, there is an opportunity to invest in Latinos and unleash significant economic opportunities within our borders.?

The other two studies are close-ups of different sectors. The sports industry in the US represents billions of revenue dollars every year.? Latinos are not only fans, they are superfans.? Nielsen’s recent study should be an eye-opener for the sector, as they find Latinos have unmatched enthusiasm, are much younger than the general population, are highly engaged across digital platforms, and have a strong preference for consuming sports online. There are many more similar statistics, but the bottom line is the bottom line.? Latino fans are 11% more likely to purchase a brand after experiencing a sponsor message and 39% more likely than the general population to recommend a company that sponsors an event or sport they follow.?

Just a week ago, I wrote about a study that the Bank of America funded for the California Lutheran University and UCLA on Latinas.?Banner headline there was that the contributions of Latinas to the US GDP was $1.3 trillion, equal to that of Florida’s entire economy.?

I am a self-confessed data geek.? It is how I understand the lay of the land, and that informs my insights.? How I know where to center my focus, which gives me direction.? Data is what encouraged me to build Hispanic Star because it showed me that there was/is a big disparity between the perception of our community and the reality.? It showed me that we have not been in control of our narrative, and that has disadvantaged us and kept us from being seen, heard, and valued.?

And I am telling you that, whether you like to dig into the numbers as I do or not, we are at a tipping point.? We have an amazing story to tell.? While it is true that the political parties (who are also data-driven) understand our importance, it is time for us to now leverage the great story of our positive contributions far and wide.??

I promise that Hispanic Star will embark on the most ambitious awareness campaign we have ever done.? But this cannot be a solo journey.? We need everyone in our community and all our allies to unify voices and help create a catalytic moment that will transform perceptions of Hispanics from takers to makers, from negative to positive, invisible to visible.? Every one of us can play a role in driving change.????

We have collected and curated data in our 2024 Hispanic Heritage Month Toolkit , including our Hispanic Sentiment Studies, that offer insightful metrics of Hispanic sentiment and behavior.? Learn 10 facts that make you proud. Ten facts that have meaning to you. And then share them. Tell people.? Post on your social channels.? It is time to spread the undeniable truth that we are the economic engine of this country.? Each and every one of us can be part of the change.?

With Latinos, everything is possible.? For Latinos, everything is possible.?And better is possible. Let our voices be heard. #TogetherWeShine