20 Cities With The Most Hispanics

In This Article:

In this article, we look at 20 cities with the most Hispanics in the United States. You can skip our detailed analysis on the economic contributions of the Hispanic or Latino community and head over directly to the 5 Cities with the Most Hispanics.

Hispanics are Americans who trace their roots to Spain, Mexico, Latin America, and the Spanish-speaking islands of the Caribbean. They are the largest racial or ethnic minority in the United States – with an estimated population of 62.9 million as of July 2021 according to the Census Bureau – which equates to 18.9% of the total population in the country.

A 2022 report by the Joint Economic Committee stated the total economic output of the Hispanic or Latino population of the United States to be an estimated $2 trillion. This includes five-million businesses that contribute $800 billion every year to the national economy. Number of Hispanic-owned businesses between 2012 and 2017 in the country grew by 14%, which was more than twice the national average. According to McKinsey & Company, they also account for the fastest growing portion of the United States GDP. So much so that if the American Latinos had a country of their own, they would have the third highest GDP growth in the past decade after China and India.

California, Texas, Florida, Arizona and New Mexico are the states with the highest Hispanic population. These states also have the highest concentration of Latino-owned businesses. In California, 85,000 of the total 764,000 businesses are owned by Hispanics or Latinos, which is equivalent to over 11% of all businesses in the state. These businesses provide jobs to an estimated 670,000 people and contribute $25 billion towards the state economy. These figures were shared by the Latino Policy and Politics Institute in August 2023.

Hispanic Representation in Leading Companies

Despite making up nearly one-fifths of the overall population of the US, Hispanics are underrepresented in boards of Fortune 500 companies and C-suites of corporate America – with less than 5% of top management positions in companies being held by Hispanics. Only 1% of all board seats are held by Latina women. 69% of the Fortune 1000 companies in 2021 did not have a single director from a Hispanic background. Only 20 of Fortune 500 companies had CEOs of Hispanic descent.

This includes Juan Ricardo Luciano, the CEO of Archer-Daniels-Midland Company (NYSE:ADM), which is a food processing and commodities trading company headquartered in Chicago, Illinois. Archer-Daniels-Midland Company (NYSE:ADM) was ranked 35th in the 2023 Fortune 500 list, having a revenue of $101 billion in 2022. Luciano grew up in Argentina and studied engineering at the Buenos Aires Institute of Technology. He worked 25 years for Dow Chemical before taking over as the CEO of Archer-Daniels-Midland Company (NYSE:ADM) in 2015.