On Monday, a report by economic think tank Latino Donor Collaborative and Wells Fargo revealed that Latinos contributed $3.6 trillion to the U.S. economy in 2020. In fact, according to census data, this group is projected to have a spending power exceeding $2.5 trillion by 2025.
Such numbers are bound to have impacts in many industries in the U.S. But one in particular that looks poised to benefit from the growing influence of the Latino community is the travel industry. A survey commissioned by Airbnb suggests that Latinos will increase their annual leisure trips by 10% and spend an additional $180 per trip by 2025, potentially generating an economic impact estimated at a whopping $165 billion.
The survey, part of Airbnb's first U.S. Latin and Hispanic Traveler Report, shows that 54% of Latin and Hispanic travelers currently consider Airbnb or short-term rentals for leisure trips, compared to 42% of non-Hispanic travelers. The company also reported a 32% growth in U.S. guests selecting Spanish as their primary language in 2023.
When it comes to the reasons behind travel, the researchers found that family plays a significant role in travel decisions. Visiting family was cited as the primary reason for travel by 61% of respondents. Furthermore, 74% of Latin and Hispanic travelers said they travel with extended family, nine percentage points higher than non-Hispanic travelers. As a result, group bookings accounted for 50% of nights booked by U.S. guests who use Spanish as their primary language, compared to 40% for other U.S. travelers.
Social media and popular culture are main drivers for Latinos' travel choices. More than half of Latino travelers use social media to plan trips, and 28% are inspired by travel influencers, both higher than non-Latino groups.
Cultural ties also shape their travel preferences, with 74% of Latinos prioritizing cultural experiences at their destinations. Many expressed an interest in visiting Latin America to connect with their heritage, and 38% of U.S. travelers who selected Spanish as their primary language booked trips to Latin America in 2023.
Las Vegas emerged as the most desired destination for Latinos inside of the U.S., with 46% of respondents naming it as a top travel location for 2025 with other notable destinations being Myrtle Beach (South Carolina), Austin (Texas) and Phoenix (Arizona)
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