Beyond what sectors can say, the Hispanic community in the United States becomes important because it is an economic engine that drives the country.
With more than 55 million people, according to the Pew Research Center, the economic output of Hispanics is increasing to the extent that if they were considered a country, it would be the seventh largest economy in the world with a Gross Domestic Product (GDP) of 2.1 billion of dollars in 2015, just behind France and before India.
This is shown by a report from Latino Donor Collaborative, which claims that if Latinos were a state in the country, they’d have the second largest economy, after California.
This shows that instead of being a “burden in United States society,” as some would say, “Latinos are a young, growing and productive part of the economy.”
For the year 2020, investigators estimate that Latinos will push about a quarter of US GDP growth and account for 12.7% of total GDP.
The report indicates that the growing number of young Latinos will help boost that growth as they will join the workforce as an older generation of Americans, the “Baby Boomers”, will retire.
With an average age of 28 years old, the Latina population in the United States is very young, the report adds.
As National Hispanic Heritage Month begins, there is much to celebrate
Between 2010 and 2015, the number of Latinos that graduated from a University between 20 and 24 years old grew a 40.6%, compared to the 13.6% of Anglo University graduates.
These factors should be taken into account for all sectors of the country to take advantage of this boom and make the country grow even more.
As we prepare to celebrate National Hispanic Heritage Month, there is much to celebrate, as these figures put us above all minorities in the country.
Across the country there will be events held to celebrate our culture between September 15 and October 15. This is a commemoration that should be celebrated in every home, community, school and business, since with these dates there is much to celebrate.