If U.S. Latinos were an independent country, their gross domestic product would rank fifth in the world, surpassing those of the United Kingdom, India and France, according to a report released Thursday at the L'ATTITUDE conference hosted in San Diego.
That sentiment is echoed by the Latino Donor Collaborative, while their report found that the COVID-19 pandemic took a toll on Latinos personally and financially, the report also shows that Latino economic output went from being equivalent to the world's eighth-largest GDP at the start of 2020 to the 5th largest when the year ended.
"Latinos are the most resilient part of our economy because they're what I call the patriots during the COVID-19 pandemic, we were hurt, there were deaths, there were illnesses toTrujillo is the co-founder of the L'ATTITUDE, the conference is geared toward Latino business professionals, this year one of their high-profile speakers includes former President Barack Obama.
Trujillo shares how Latinos are creating more companies than any other part of our economy as their report found that Latinos created 80% of all net new businesses and 50% of all net new employer-based businesses. Meaning Latinos are not just building businesses, but hiring people. "They're entrepreneurs, they are taking risks willing and they'll do what it needs to take to create wealth for their family and also serve customers," said Trujillo."Whatever I don’t create I purchase from another woman-owned business so that is me giving back to the woman that doesn’t own a store to put their items in and we are growing together, so it's like me helping them grow and them helping me grow," said Cardona.
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