Every time I visit my local Hispanic supermarket, I see a woman selling tamales from her vehicle. Sometimes she’s with her kids, sometimes alone, but always working hard. Many people might overlook her and not realize the significant impact that Latinos have on the U.S. economy.

To many Americans, she might seem like just another part of the narrative—the poor immigrant living off government assistance. The difference between those who think that way and me is that they don’t see her elsewhere. She’s invisible to them, as am I, even when we’re right in front of them.

As a communications professional who has worked on marketing and advertising campaigns targeting Hispanic consumers, I’ve had the privilege of seeing undeniable research about the vital role Latinos play in the U.S. economy. Despite this, there is still a lot of misinformation and widespread misconceptions about the real impact of these numbers.

The reality is that the hard-earned dollars of many humble Latinos are poured back into their families and the economy. Whether it’s shopping for Quinceañeras, buying the latest smartphones and accessories, or simply making everyday purchases, Latino spending contributes significantly to the economy. Moreover, this economic contribution is fueled by the entrepreneurial spirit of Latinos, who continue to create new jobs and drive economic growth.

Yet, watching the news and political campaigns, you might think otherwise. It’s clear that many Americans and politicians are out of touch with reality and fail to see the importance of the population that is carrying a significant portion of the country’s economy. The growing numbers of Latinos only underscore their relevance to our financial present and future.

A 2012 report titled State of the Hispanic Consumer: The Hispanic Market Imperative states, “Hispanics are the fastest-growing ethnic segment, expected to grow 167 percent from 2010 to 2050, compared to 42 percent for the total population.” Given that we have the youngest generation, it’s easy to conclude that these estimates are solid.

Myths vs. Facts: Latinos and Their Role in the U.S. Economy

Myth: Latinos Abuse Public Benefits
There’s a widespread belief that Latinos are looking to ‘cash in’ on public benefits and prefer to live off government programs.

Fact: Entrepreneurial Spirit
In reality, Hispanics are entrepreneurial by nature, which benefits not only their community but the country at large. The number of Latino-owned businesses continues to rise, generating more jobs and strengthening the economy. This entrepreneurial drive is deeply rooted in the American ethos of pulling oneself up by the bootstraps and working hard to pursue one’s dreams. American Latinos share the same interests and concerns as other Americans.

Myth: Latinos Don’t Get Involved/Don’t Assimilate
For as long as I’ve lived in this country, I’ve heard claims that Latinos don’t get involved or are unable to ‘assimilate.’

Fact: Americans & Involved
This is one of the biggest myths. American-born Latinos represent 65% of the Hispanic population and are as much a part of American society as anyone else. When given a voice, Latinos use it to empower their community and prosper. A good example of this is social media. With American Latinos being the youngest cohort in the U.S., it’s no surprise that they are highly engaged on platforms like Twitter, Instagram, and Snapchat. However, it’s not just about having fun on these platforms; it’s about raising concerns and discussing national issues. Additionally, Latinos are creating entrepreneurial ventures in the digital space, gaining recognition and new opportunities that contribute to the U.S. economy.

Myth: Latinos Send Their Money Overseas
While it’s true that some Latinos, particularly immigrants, send money to support family members in Latin America, the broader reality of Latino spending behavior is undeniable.

Fact: Impressive Purchasing Power
With $1.5 trillion in purchasing power last year, expected to reach $1.7 trillion by 2017, the Hispanic market’s purchasing power is larger than the economies of most countries worldwide—only 15 nations have a larger purchasing power than the Latino community. Moreover, its growth is outpacing that of the general U.S. population by 70%. This influence is evident in industries such as automotive, telecommunications, and retail, among others.

As a community, we are all concerned about the state of the economy and its impact on crucial areas like education and health. Our contributions are shaping the future in all these areas, yet our story is often misunderstood or not told at all.

What other myths have you heard about Latinos and the economy?