By Joelle Martinez, President & CEO, Latino Leadership Institute
Fast Company Executive Board
Image: Fast Company / Adobe stock / bernardbodo
In her first contributed article for the Fast Company Executive Board, Joelle Martinez, President & CEO of the Latino Leadership Institute, writes that bridging the opportunity gap and fostering the growth of the Latino economy isn’t just a moral imperative; it’s a sound business strategy.
For over six years, the Latino Donor Collaborative has studied the U.S. Latino economy, revealing its remarkable growth. This year’s report is even more astonishing:
- The U.S. Latino economy has skyrocketed to $3.2 trillion, making it the world’s fifth-largest and the third-fastest growing GDP
- Latino purchasing power stands at an estimated $3.4 trillion and is growing annually at a robust rate of 4.7%, far outpacing the 1.9% growth rate observed among non-Latinos
However, the milestone of $3.2 trillion in GDP represents only the floor of the economic potential of U.S. Latinos.
Persistent opportunity disparities faced by Latinos restrain the true magnitude and potential of this economic powerhouse.
Here lies the inflection point for business leaders.
