economy (230)

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By HispanicPro Staff • Published May 15, 2025, Image source: Getty Images

The Latino community is one of the fastest-growing and most economically influential groups in the United States, contributing over $3.2 trillion to the U.S. GDP. Yet, despite this growing financial impact, wealth creation — not just income generation — remains a critical challenge and opportunity for Hispanic families.

The Wealth Gap Reality
While Hispanic households have made steady gains in education, entrepreneurship, and homeownership, a significant wealth gap persists. According to the Federal Reserve, the median wealth of Hispanic households is about 20% that of non-Hispanic white households. This disparity isn’t due to a lack of ambition or hard work, but systemic barriers like limited access to financial education, investment opportunities, and networks.

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Graph Source: HispanicPro Media

Cultural Shifts Around Money
For many Hispanic families, money conversations historically centered around security and survival rather than wealth-building. However, a cultural shift is underway. More Latinos are embracing conversations about investing, real estate, entrepreneurship, and generational wealth — recognizing that creating assets, not just incomes, is key to long-term prosperity.

Entrepreneurship as a Wealth Strategy
Latinos are launching businesses at a rate faster than any other demographic in the country. These ventures are more than income sources — they’re pathways to ownership, legacy, and community impact. Yet, scaling those businesses often requires access to capital, mentorship, and networks that have historically been out of reach.

The Role of Financial Literacy
Financial literacy remains a cornerstone of wealth creation. From understanding credit and retirement planning to navigating real estate investments and digital assets like cryptocurrency, financial education empowers Hispanic professionals and families to make informed, growth-minded decisions.

Building Wealth, Building Community
Wealth creation within the Latino community isn’t just about individual success — it’s about uplifting families and future generations. By closing the wealth gap, Hispanics can reshape narratives, increase representation in leadership roles, and fuel community-driven initiatives in education, healthcare, and civic engagement.

Bottom line: Hispanic wealth creation is not a future conversation — it’s happening now. The challenge and opportunity lie in turning incomes into ownership, knowledge into power, and success into legacy.

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My old mentor used to say, “Not every entrepreneur is cut out for success, and not every failure is a lost cause.” The entrepreneurial journey isn’t just about having a groundbreaking idea or a foolproof business plan. It’s about the habits we cultivate, the mindset we possess, and how we navigate through the unpredictability of the business world. Remember: success isn’t always about doing more. Sometimes, it’s about doing it right. READ MORE AT PERSONAL BRANDING BLOG

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As economic conditions fluctuate in Latin America – along with new leftist governments in Brazil, Chile and Colombia – sophisticated investors are prioritising the US market for wealth preservation and expansion. Latin American wealth is engaging more actively with US markets with growing appetite for dynamic and hands-on strategies. READ MORE AT PROFESSIONAL WEALTH MANAGEMENT

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Latinos are one of the fastest-growing entrepreneurial groups in the U.S., driving innovation, job creation, and economic expansion.

Key Facts on Latino Entrepreneurship
5 million Latino-owned businesses employ millions across the country.
Latino businesses grew 57% between 2007 and 2022, outpacing the national average.
Latino entrepreneurship hit a record high in 2023, with new business formation rates double the national average.

This rapid growth isn’t just about numbers—it’s reshaping industries. According to Stanford University research, Latino entrepreneurs lead the way in adopting artificial intelligence (AI) technology, giving them a competitive edge in the digital economy. READ MORE AT FINGERSLAKE1.COM

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Rising insurance premiums pose a growing financial barrier to Latino homeownership. Insurance now comprises one fifth of mortgage payments, more than double what it was in 2013. And Latinos are more likely to live in disaster-prone areas that are experiencing the steepest increases in insurance premiums. Over the next few decades, climate change will reduce property values in vulnerable areas, undermining home equity for Latino homeowners. READ MORE AT UNIDOSUS

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For many Hispanic immigrants arriving in the US, securing employment is far more complex than simply submitting a CV. Language barriers, complex applications, and limited access to technology often make the process overwhelming—even for those legally authorised to work. In a system that fails to accommodate one of the country's fastest-growing demographics, two Colombian entrepreneurs saw an opportunity to make a difference. Their Miami-based start-up, Ponte, is using AI and WhatsApp to revolutionise job access for Hispanic immigrants—and they're only just getting started. READ MORE AT INTERNATIONAL BUSINESS TIMES

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Latino-owned businesses are a dynamic and growing portion of the U.S.; with more than 5 million firms driving $800 billion in revenue, they represent a massive opportunity for the U.S. The Latino Business Action Network (LBAN), in collaboration with the Stanford Graduate School of Business (GSB), released the 10th annual State of Latino Entrepreneurship (SOLE) research report unveiling groundbreaking data on the latest trends in Latino entrepreneurship across the U.S. READ MORE AT THE MANILA TIMES

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With Latinos contributing $3.2 trillion to the U.S. economy and driving the majority of workforce and business growth, companies that actively engage this market are making a strategic business decision focused on growth. Forward-thinking businesses are not just increasing market share—they’re securing long-term success by building trust and loyalty with Latino consumers. READ MORE AT CUINSIGHT

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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

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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

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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

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Why Hollywood needs more Latinos

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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

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Who were the ten richest Latin Americans in 2024

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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

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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

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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

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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

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