With a population of 62.1 million Latinos have been for years the largest ethnic group in the U.S. accounting for 18.6% of the population. From the 2010 to 2020 Census the population of Latinos grew by 23%, compared to 7.4% for the general population. Also, the median age of Latinos is 29.8 younger than any other ethnic group. In addition, Latinos account for 25% of Generation Z and 30% of Generation Alpha.
Latinos have also an economic power, their buying power now stands at $1.9 trillion, an increase of 87% over the past decade, compared to +51% for non-Latinos. Furthermore, with a total economic output of $2.8 trillion, if Latinos were a separate nation, they would have the fifth largest economy (GDP) in the world, ranking ahead of four G7 nations; the United Kingdom, France. Italy and Canada (as well as Russia). In fact, over the past ten years only China and India have had a faster growing economy than Latinos
With their continued growth, size, economic clout and a younger skewing population, Latinos have become an important target for businesses, marketers and politicians. Latinos are also heavy viewers of streaming video and go to movies more often than any other ethnic segment. Yet, Hollywood continues to bypass Latinos when it comes to casting actors in lead or co-lead roles, directing, screenwriting and producing movies or television programs.
Check out the Cultural Inclusion Accelerator™ Report Card to learn more.
