Seizing the Market Opportunity of the Growing Latino and Caribbean Community in the United States

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Oct 2023
This study examines the transformative influence of the rapidly growing Latino and Caribbean community in the United States, both as a demographic and an economic powerhouse. Accounting for nearly one in five U.S. residents, this community is reshaping the nation's social, economic, and cultural landscapes. In 2019 alone, the economic output of Latinos in the U.S. was $2.7 trillion, marking them as a global economic force. The report highlights the community's role in enhancing trade and economic relations with Latin America and the Caribbean (LAC), including its influence on foreign direct investment (FDI) and diaspora direct investment (DDI). Remittances to LAC countries remain strong, further solidifying economic ties. Culturally and politically, the Latino and Caribbean community is becoming mainstream in the U.S., as evidenced by its growing impact on music, food, and voter participation. The study includes case studies from Houston, Los Angeles, Miami, and New York to underline the community's diverse contributions across various sectors. In summary, the Latino and Caribbean community is not just growing in numbers but is a formidable force that is shaping the U.S. and strengthening its international ties with LAC. This growth presents numerous opportunities for both domestic and international economic and cultural collaborations.