Latinos generated 4.4 trillion dollars for the United States economy in 2024, which positions this community as the fourth largest economy in the world, according to a report revealed by UCLA.
The annual analysis of Latino GDP, prepared by researchers from the University of California, Los Angeles, and California Lutheran University, revealed that the economic contribution of Latinos in the United States surpassed that of Japan in 2024 and was positioned as the fastest growing among the main economies in the world.
The researchers anticipated, however, that by 2025 the anti-immigrant and deportation policies carried out by the Donald Trump government will have a certain impact on the Latino GDP, but they remain optimistic about this community.
“As occurred during the Great Recession and the Covid-19 pandemic, Latinos will overcome these challenges and continue to drive economic growth, thus benefiting all Americans,” stressed researcher Matthew Fienup, co-author of the report.
The research highlights that since the start of the covid-19 pandemic, Latin GDP has been the fastest growing among the world’s main economies, expanding even at a higher rate than that of India and China.
“Its (Latin GDP) growth was such that it broke all records in terms of economic dynamism,” said Professor David Hayes-Bautista, co-author of the report.
Researchers point out that a key factor in the economic rise of Latinos is the growth of their population, linked largely to births and not to immigration.
The cumulative natural growth of the Latino population – calculated as the difference between the number of births and deaths – increased by 3.2 million people between 2020 and 2024, while the natural growth of the non-Latino population in the US experienced a decrease, the report details.
Among other notable findings, the research found that the finance and real estate sector constitutes the main industrial sector within the Latino GDP, generating 766 billion dollars in economic activity by Latinos.
Additionally, the number of Latino-owned businesses – including both those with and without employees – grew almost 7 times faster than non-Latino-owned businesses between 2007 and 2023.
Added to this is that the number of Latinos with a university degree experienced an increase of 144.5% between 2010 and 2024, while the number of non-Latinos in the country grew only 44.8% in the same period.
The educational level of Latinos advanced 3.2 times faster than that of non-Latinos.
Additionally, researchers found that the Latino workforce grew 5.5% in 2024, the strongest growth ever recorded and 4.2 percentage points faster than the non-Latino population.
