Across busy neighborhoods in Miami and beyond, the hum of Latino-owned businesses tells a story of grit and ambition. They’re the bodegas, tech startups, construction firms, and family-run restaurants that keep local economies alive. The reality is that their contribution to the U.S. economy is essential. Yet, many of these businesses face barriers that prevent them from fully realizing their potential – and this is something that affects many other Latino-owned businesses across the nation. READ MORE AT BELATINA
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Latinos are no longer on the sidelines of high-powered industries. Whether in Fortune 500 boardrooms or legislative chambers, they are breaking barriers, shaping policy, and redefining leadership. With cultural values emphasizing resilience, community, and innovation, Latino leaders are carving a path that benefits both their communities and the broader economy. READ MORE AT MARCO LOPEZ
A new DATOS report claims Arizona Latino businesses represent $68+ billion in purchase power. CLICK HERE FOR VIDEO REPORT
SXSW panelists urge the industry to capitalize on the economic potential of Latino representation. Four Latino entertainment leaders gathered at SXSW on Friday to confront a striking economic revelation – the entertainment industry is missing out on approximately $18 billion annually by undeserving Latino audiences.
The 2024 McKinsey study titled “Latinos in Hollywood: Amplifying Voices Expanding Horizons,” revealed that improving Latino representation both on screen and behind the camera could generate billions in new revenue. READ MORE AT AUSTIN VIDA
Wealth is as often a measure of financial success as it is a source of pride, an opportunity to live a full life and the chance to secure a lasting legacy. For Hispanic-Latino investors, the Spanish word riqueza encompasses this multidimensionality of wealth.
What wealth-building strategies do Hispanic-Latino investors use to achieve riqueza? To learn more about their unique perspective on wealth, Morgan Stanley recently completed its State of Hispanic-Latino Wealth Report,1 featuring results of a survey of “emerging affluent” and high net worth Hispanic-Latino investors. READ MORE AT MORGAN STANLEY
According to research by consultancy firm McKinsey & Company released last year, which looked at movies and shows released from 2013 to 2022, Latinos held 4 percent of lead roles in theatrical films and television shows, and 7 percent on streaming series, despite making up 19 percent of the US population. That makes Latinos one of the most underrepresented groups in Hollywood; only Native American representation is similarly bad. READ MORE AT MOTHER JONES
In 2024, two of the three richest people in Latin America were Mexicans. The leader of the rank was the Mexican business magnate Carlos Slim, the 14th richest person in the world. Slim had a fortune of 102 billion U.S. dollars, derived from his multiple businesses and investments. At third place was a fellow Mexican businessman, German Larrea, with a fortune of nearly 27.3 billion dollars.
Within each country's economy, there exists a relatively small segment of wealthier individuals who contribute significantly to the Gross Domestic Product (GDP) of their respective countries. READ MORE AT STATISTA
Only 3% of Latino businesses in the United States have reached and surpassed the $1 million mark. Hispanic entrepreneurs who've achieved that milestone share tips on how they beat the odds. Latinos make up the fastest-growing segment of entrepreneurs, creating new businesses at multiples the rate of other groups.
But of the 4.65 million Latino-owned businesses in the United States, only 3% have hit $1 million or more in revenue. A major barrier is the lack of access to the capital they need to scale up. READ MORE AT US CHAMBER
On the Latino economic front, there is good news, bad news, and worse news. The overall economic condition of Latinos is improving. The U.S. Department of Treasury reports that between 2013 and 2022, the median wealth of Latino families increased by 252%. However, the Latino wealth gap persists. READ MORE AT FORBES
Total U.S. household wealth has trended upward over the last 15 years or so, but there is still great inequality along racial lines. According to federal data, the typical white family has almost five times the wealth of the typical Hispanic family. READ MORE AT PBS
Hispanic-Latinos view wealth as a holistic concept that includes money, good health, living a vibrant life, nurturing strong family relationships, and contributing to their community. While Hispanic-Latinos often define wealth as a means of creating independence and stability, many struggle with significant barriers along their path. Here are the barriers these investors faced, along with the strategies used to overcome them. READ MORE AT ETRADE
The American dream is to get an education, get a job, buy a home, and live the good life. When that dream becomes a reality, especially when you own a home, you likely will be able to build a nice nest egg and pass it on to your family. READ MORE AT FORBES
According to the U.S. Small Business Administration, Latino business ownership is growing at the fastest rate in three decades and is now at the highest level on record. The SBA said America's more than five million Latino-owned businesses employ nearly three million workers and contribute $800 billion to the U.S. economy each year. READ MORE AT NBC8
Latino-owned businesses are the fastest-growing segment of small businesses in the U.S., with over 5 million businesses owned by Latino/a entrepreneurs in the country, according to the Stanford Latino Entrepreneurship Initiative (SLEI). Though Latino business owners have solidified their role as strong contributors to American economic activity, they face a string of unique challenges compared to white, non-Latino business owners. READ MORE AT NBC NEWS
If you’re like a lot of people, you might have gone your entire career without ever asking for a raise. It’s surprisingly common for workers, particularly women, to wait for their employer to dole out raises rather than proactively requesting one.READ MORE AT NEW YORK MAGAZINE
Hispanics are leading a revolution in financial education. While traditional sources still play a role, social media is becoming a go-to for financial guidance. This enthusiasm for financial growth is encouraging and speaks to a community eager to take control of its future. READ MORE AT MONEYLION
Not everyone wants to be an entrepreneur. And not everyone can be an entrepreneur. Many people aren’t in a situation that allows them towork 80 hours a week with no guaranteed income. Entrepreneurs are willing to work harder than most people. They know it’s a marathon, not a sprint. What are the qualities that it takes to be an entrepreneur? READ MORE AT MS. CAREER GIRL
Americans aren’t staying on top of their wellness check ups and reports are saying it shows. Aflac’s 2024 Wellness Matters found that more people are waiting for a medical emergency to access care. For Latino Americans specifically, this survey provided critical insights on the barriers preventing Latinos from accessing preventative healthcare and a growing trend of relying on urgent care or emergency services to meet their primary healthcare needs. About 58% of Latinos use urgent care or the emergency room as their main source of care. READ MORE AT RECKON
Experts from Wharton and TIAA Institute discuss ways to improve financial wellness for Hispanic Americans, from college through retirement. Drawing insights from the TIAA Institute’s recent report, “The State of Hispanic Financial Wellness in the United States,” the conversation highlights key findings and explores potential solutions for closing the retirement and savings gaps disproportionately affecting Hispanic Americans.
The discussion delves into the state of financial wellness among Hispanic Americans, covering the behaviors, attitudes, and systemic challenges that shape financial outcomes for this community. READ MORE AT KNOWLEDGE AT WHARTON
In the United States, Bitcoin is seen more as an investment instrument. What many people in the U.S. don't know that Latinos are the ones who invest the most in cryptocurrencies. Then it's followed by Blacks and then Whites. In Colombia and Mexico, you're seeing a lot of activity in using cryptocurrencies for remittances, because it's faster, cheaper and sometimes safer. READ MORE AT THE LATIN TIMES
