Latinos are Leading America’s Economy— With or Without Your Support

By Beatriz Acevedo – CEO/Cofounder SUMA.

Data doesn’t lie. U.S. Latinos now generate an astounding $3.6 trillion GDP, making us the 5th largest economy in the world, bigger than India, the U.K., and France. And we’re not slowing down. Our GDP is growing faster than any other country except China, positioning us to surpass Germany by 2027 and reach $5.7 trillion by 2029. Yet, despite this staggering economic power, Latinos remain grossly underrepresented in leadership, media, boardrooms, and investments.

Let’s break it down:

• Latino Purchasing Power hit $3.78 trillion, growing 2.5 times faster than non-Latino purchasing power. We are driving U.S. consumption—but where is the representation of our voices?
• Latino income grew at 4.8% annually, while non-Latinos saw just 1.8%. We’re not only earning more, but we’re also fueling America’s future, with Latinos accounting for 80% of the nation’s net labor force growth. Still, we continue to see the worst wage gaps, especially for Latinas, who remain the least paid demographic in the U.S.
• Manufacturing, one of the largest sectors in the U.S. economy, is powered heavily by Latinos. We contributed $457.4 billion in 2022 alone, representing 17% of the nation’s total manufacturing output. So, again, where’s the investment in Latino-led innovation?

Given these numbers, the question remains: Why, with all this data, are Latinos still underrepresented and underinvested? Why aren’t more Latinos in the C-suite, on corporate boards, leading Hollywood studios and media conglomerates, or receiving equitable investment in their companies?

The honest truth is that change is difficult, and businesses aren’t motivated to evolve until it hits their bottom line. But this blind spot is already hitting the bottom line! Change is uncomfortable, sometimes even painful, but that doesn’t make it less necessary today. It’s human nature to avoid change until the consequences of staying the same become unbearable.

The Pain Point is Here—Are You Ready?

Ignoring the Latino market isn’t just a missed opportunity anymore—it’s a liability. With the U.S. working-age population shrinking, Latinos are the only demographic growing fast enough to sustain future labor needs.

Between 2021 and 2022, while the non-Latino working-age population fell by 673,000, the Latino cohort added 725,000 working-age individuals. Latinos are younger and more likely to be entering the workforce compared to non-Latinos, where the most common age is 60, while among Latinos, it’s 14.

We are the future of this country’s workforce, productivity, and innovation. But here’s the kicker—by demographics alone and with our hard work ethic—we will succeed with or without corporate America’s “support.” We’re already doing it. We’re building businesses at twice the rate of non-Latinos, innovating in technology and AI, and launching startups in every industry imaginable. Yet, investment in Latino-owned businesses remains alarmingly low.

The Time for Change is Now

U.S. Latinos are not a charity case. We’re the second-fastest growing GDP in the world, right behind China. That’s $3.6 trillion, and it’s only going up. If your business is not investing in Latinos now, it will lose. We’re already powering this country, and we aren’t waiting for permission to succeed.

The only question is: Will your company evolve fast enough to grow with us, or will you fall behind?

Latinos are already driving America’s economy, and the future is Latino—whether your company is ready or not.