Florida Hispanic American Chamber of Commerce (FHACC)

Business Publication

Building your business using new strategies & adapting to the new normal.

Hispanic/Latino Market in USA:

• Nearly 5 million businesses across
  the country generating billions in annual revenue, Latinos are a prominent consumer base and a
  growing source of economic activity.
• In 2022, the U.S. Latino GDP reached $3.6 trillion, ranking as the fifth-largest economy globally, surpassing India, the U.K., and France. This growth reflects the continued upward trajectory of the Latino cohort in the United States.
• Prior to the pandemic, according to the LDC U.S. Latino GDP Report, the size of the U.S. Latino market measured by GDP was $2.6 Trillion in 2018, up almost 9% from $2.3 Trillion in 2017. If the U.S. Latino market was its own country, it would be the 8th largest economy in the world and the largest Latino market in the world, larger than Brazil and more than twice the size of Mexico.
• Key findings from the report show that U.S. Latinos are not only driving GDP growth but also excelling in sectors such as manufacturing, retail trade, and construction. Manufacturing alone contributed $457.4 billion to the Latino economy, marking a significant 48.4% year-over-year growth. In states like California, Texas, and Florida, the Latino economy continues to outperform non-Latino counterparts, but it’s not limited to traditional hubs—states like Georgia and Washington have also seen impressive Latino-led economic expansion.
• The recent Census data shows that there are more than 62 million Latinos living in the U.S. and that the Latino population continues to grow at a powerful rate. Florida Hispanic.