The United States in 2020 generated, thanks to Latinos, an economy of $2.8 billion dollars. If the US Latino community were a sovereign republic, it would represent the fifth largest Gross Domestic Product on the planet. It also surpassed the GDP of countries as important as the United Kingdom, India and France.
These data were provided by the Latino Donor Collaborative, a non-commercial agency dedicated to studying Latin American affairs. Other statistics show that Latino earnings and merchandise in the United States increased in times of coronavirus. These results contrast with the exaggerated damage caused by the pandemic precisely to the Latino colonies in North America.
Golden decade, 2010-2020, with a Latin flavor
The report also reflects a comparison between various world powers in terms of GDP growth in the decade from 2010 to 2020. The North American nation increased its GDP by 1.7% in general, while China increased it by 6.8%. Japan grew 0.3%, Germany 1%, the United Kingdom 0.6% and Latin Americans in the northern nation raised GDP up to 3.1%.
In 2010, Latinos had entered the coffers of the Anglo-Saxon country, $1.7 billion dollars and ten years later it represented an additional 65%. Taking into account that the positive cases of Covid-19 among Latinos were too many, the workforce was stimulated at an accelerated pace. This might be the essential answer to the contradiction.
Trades in the service sphere became overloaded with Latino representation recently and at a time when employees were needed. The adaptation of Latinos to the North American economy has been key to facing the global crisis caused by the pandemic.
During the duration of the disease, the salaries of Latin Americans rose above the payments of those who are not. When accounting for the statistics with inflation, the Latino GDP in US territory fell by 0.8% and that of non-Latinos fell by 4.4%.