The 2024 L’Attitude Conference, held in San Diego, California, once again showcased the powerful and growing influence of U.S. Latinos on the national economy. One of the key highlights of the 2024 L’Attitude Conference was its focus on the New Mainstream Economy, emphasizing how Latinos are driving American business and shaping future economic growth.

Founded in 2018 by Sol Trujillo and Gary Acosta, L’Attitude has become the largest business event centered on the U.S. Latino community. It highlights their contributions across sectors like business, media, technology, and politics. This event provides a platform for launching new business initiatives, fostering collaborations, and showcasing Latino economic leadership. With the help of influential partners such as Emilio Estefan and Oscar Munoz, L’Attitude has expanded its reach and impact, establishing itself as a key event in the U.S. business calendar.

Latino Youth 2030 Report: Economic and Demographic Insights

This year, the 2024 L’Attitude Conference highlights included the unveiling of the Latino Donor Collaborative (LDC) Latino Youth 2030 Report. The report revealed compelling data that underscores the importance of young Latinos to the nation’s future economic growth.

Demographic Growth

As of 2023, the U.S. Latino population stands at 64 million, up from 35 million in 2000. Projections show this population will exceed 81 million by 2040. Notably, this growth is driven largely by births, not immigration. Today, 94% of Latinos under 18 are American-born, compared to just 46% of those aged 35 and older. This shift shows that the Latino community is deeply integrated into American society while maintaining a distinct demographic presence. As a result, this young, growing population will have a profound impact on the U.S. economy in the coming decades.

Economic Contributions

Latinos are becoming a significant part of the U.S. labor force. Between 2020 and 2030, Latinos will account for 78% of all net new workers in the U.S. The Latino labor force is expected to expand by 6.2 million workers, while the non-Hispanic labor force is projected to shrink by 51,000. In addition to filling workforce gaps, Latino youth show strong entrepreneurial ambitions. In fact, 62% of Latinos under 34 are interested in starting or owning a business. This entrepreneurial spirit positions Latinos to not only contribute to the labor force but also to drive economic growth through job creation.

Consumer Spending

The report highlighted that Latino youth will drive a major portion of U.S. consumer spending. Between 2020 and 2030, Hispanic consumer spending will grow 1.3 times faster than non-Hispanic spending. With $3.78 trillion in purchasing power, U.S. Latinos are expected to outpace non-Hispanic consumers in categories such as personal care products, home electronics, and new cars. This trend underscores the critical role Latinos will play as major consumers in the U.S. economy over the next decade.

Economic Growth of U.S. Latinos: Keynote by Priscilla Almodovar

A major highlight of the 2024 L’Attitude Conference was a keynote address by Priscilla Almodovar, President of Fannie Mae. She shared additional data on the Latino economic engine. According to Almodovar, the U.S. Latino GDP stands at $3.6 trillion, growing at an annual rate of 4.6%. This makes the U.S. Latino economy the second fastest-growing among the world’s ten largest economies, trailing only China.

Latinos make up 19.5% of the U.S. population, but they contributed 28.3% of total GDP growth from 2017 to 2022. This outsized contribution highlights the critical role Latinos play in driving U.S. economic growth. By 2029, the U.S. Latino GDP is projected to become the fourth largest economy globally, surpassing Japan by the end of 2024 and Germany by 2027.

Rising Incomes and Latino Youth’s Influence on the Economy

The economic potential of Latinos extends beyond their GDP contributions. In 2022, Latino incomes reached $2.83 trillion, growing at an average rate of 4.8% annually between 2017 and 2022. This income growth, combined with high workforce participation and entrepreneurial ambitions, positions Latinos at the center of future U.S. economic expansion.

Conclusion: 2024 L’Attitude Conference Highlights Latino Economic Power

The 2024 L’Attitude Conference highlights made it clear that the Latino community, particularly its younger generation, is poised to shape the future of the U.S. economy. From their expanding role in the labor force to their growing consumer spending power and entrepreneurial drive, Latinos are not just participating in the U.S. economy—they are driving it forward. As emphasized in the Latino Youth 2030 Report and Priscilla Almodovar’s keynote, the U.S. Latino cohort will become one of the most important contributors to global economic growth in the years to come.

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