What if you had an asset that would make your country's economy bigger, faster, younger, and more fiscally stable? According to Patty Juarez, Executive Vice President of Public Affairs and External Engagement at Wells Fargo, it's hiding in plain sight: U.S. Latinos.

For Wells Fargo, the numbers tell the story. The value of goods and services produced by Latinos in the U.S. reached $4 trillion in 2023, making it the fifth-largest economy globally, surpassing the GDPs of the United Kingdom and France and on par with India's.

"The $4 trillion U.S. Latino economy is not just large, it is growing at more than double the pace of the rest of the nation," said Juarez. "That makes it the fifth largest economy in the world if measuring independently. It's larger than the UK, larger than France and on par with India's."

Wells Fargo's partnership with the Latino Donor Collaborative (LDC) began with recognition that narratives about Hispanics painted an incomplete and, at times, harmful picture. In 2017, LDC launched as a non-profit, non-partisan think tank with a mission: assembling objective economic facts about the Latino cohort and its contributions. "It is economic data that has been quite necessary, quite helpful, and frankly, it has really changed the narrative around what we do, or what we do not, represent in this country," Juarez said. "And what we represent is that we are the economic engine shaping America's future."

Wells Fargo sponsors the annual study conducted by Arizona State University's W.P. Carey School of Business. Released in two parts in July and September 2025 at venues including the Velocity conference in Los Angeles, the eighth edition revealed striking findings beyond the $4 trillion GDP figure. For example, U.S. Latino purchasing power grew 2.4 times faster than non-Latinos. Consumer spending expanded more than double the non-Latino rate.

For a financial services institution, understanding these economic realities isn't academic. It's essential for serving customers and planning growth. "We need to understand their needs as consumers of our services," Juarez explained. "We want to be sure we are providing what we need to in terms of banking services, such as homebuying. They are buying more homes than anybody right now. Access to capital is important as U.S. Latinos continue to lead in terms of entrepreneurship gains and starting new businesses. Understanding workforce participation is key as well."

The data has practical implications across industries. The U.S. Latino economy spans diverse sectors across the economy. Wells Fargo hosts quarterly events presenting these findings to clients, policymakers, and business leaders. The demand is so strong these gatherings consistently reach capacity, a testament to hunger for accurate, actionable intelligence about Latino economic contributions. "It shifts the perception of U.S. Latinos as a demographic group to what we are, that is that we're crucial for future American prosperity," she said.

Based in Los Angeles, Juarez is a 28-year veteran at Wells Fargo and has held a number of leadership roles. Currently she serves as head of Hispanic/Latino affairs and is focused on national cultural engagement, executive recruitment, business development, and stakeholder relations. In addition to serving on the advisory board of the LDC, she’s the former chairwoman and current board development chair of the Orange County Hispanic Chamber of Commerce and is on the board of the U.S. Hispanic Chamber of Commerce, which represents Latino-owned businesses around the country.

But even for a seasoned expert like Juarez, the report contained revelations. "While I wasn't surprised by the overall Latino GDP growth, I was by the pace of the growth, especially when you break it down to the indicators of what fuels the growth, like age and educational attainment."

Educational attainment particularly caught her attention. The rate of Latino degree completion is growing 3.1 times faster than non-Latinos. "I see it in my family as family members complete college and enter professions," she said.

Juarez noted that Latinos are significantly younger than the overall U.S. population. “The most common age groups among U.S. Latinos are under 6 and between 16 and 20 years old. Ninety-four percent of Latinos under 18 are U.S.-born or the children of naturalized citizens, and 84 percent speak English exclusively or speak it well," she said. “That’s the future workforce.”

For Wells Fargo, the Latino economic story represents more than a demographic trend. It's an economic transformation. "We represent that Latinos are not outsiders to the American story but central to it," Juarez said. "We represent a population that is a deeply rooted and long-term driver of U.S. prosperity."

Juarez acknowledges that significant work remains in improving capital access for Latino entrepreneurs, and achieving increased positive representation in media and entertainment.. But the trajectory is clear. The U.S. Latino economic engine is already running. The question isn't whether it will continue growing, but how much faster it could accelerate with support and recognition of its role in American prosperity.

As Juarez and colleagues present LDC data to packed rooms of decision-makers, the message resonates: America's economic future is inextricably linked to Latino success.