The latest figures collected by LGBT Capital show that the global LGBT community has an estimated spending power of $3.7 trillion US dollars.
LGBT Capital are an asset management and Corporate Advisory which specialise in providing both financial services and advice to members of the LGBT community.
If these figures were not impressive enough, the firm also estimates the LGBT household wealth (known as LGBT-Wealth) at $14 trillion, with $5 trillion of that held just within America.
“It is estimated that the Global Spending Power of the LGBT consumer segment is US$3.7 trillion per annum, with an LGBT population estimate of about 450 million,” said LGBT Capital explained in a statement.
‘Asia is fast developing,” the statement continued. “Already with an estimated LGBT-GDP in excess of US$1 trillion and with China alone estimated to have an LGBT population of more than 80 million.”
These figures don’t stand in isolation – back in June 2015, the world renowned marketing experts at Ogilvy and Mather estimated the worth of the global LGBT market “in excess” of over $3 trillion US dollars, Ogilvy and Mather has also launched a dedicated LGBT division this year
“We believe these numbers to be extremely important in demonstrating the value offered to both countries and companies by the LGBT consumer segment,” said Mr Thompson, the founder of LGBT Capital.
“The estimated population of the LGBT community worldwide is higher than the total population of the United States and the estimated LGBT-GDP nearly equals the GDP of Germany!”
“This community is growing in voice and power, and we believe this will support the Global LGBT Diversity & Inclusion development and should be taken very seriously and command respect.”