Page 11 - Synchrony US Hispanic Market Playbook

DRIVING ECONOMIC GROWTH

An integral part of the US economy

 According to the Department of Labor, Hispanics account for 82% of
workforce growth in the US* and are expected to account for 78% of net new
workers between 2020 and 2030**.

 86% of all new businesses in the past 10 years were launched by Hispanics.

 8 out of 10 new startups were launched by Hispanics.

 Hispanic buying power has grown significantly in the last 30 years, from
$213 billion in 1990 to $1.9 trillion in 2020 (11.1% of total US buying power).
This is mostly attributed to population growth, entrepreneurial activity and
rising education levels**.

 The largest Hispanic markets are California ($506 billion), Texas ($361
million), Florida ($208 billion) and New York ($139 billion).

 It is also estimated that US Hispanics have contributed to 72% of
real consumption growth in the US***.

*https://blog.dol.gov/2021/09/15/hispanics-in-the-labor-force-5-facts

**Thirty years of change: Consumer buying power is more diverse than ever (uga.edu)

***hispanicstar.org

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