How the Worldwide LGBTQIA+ Dollar Index was calculated

As the saying goes, money makes the world go around, so like with all ethnic groups, nationalities and communities, LGBTQIA+ individuals contribute to their local country and the global economy. The concept and size of the LGBTQIA+ spend have been around for many years and are often referred to as the Pink Pound or Gay Dollar. The global Pink Pound is significant and combined, in 2019, would be ranked 14 out of 190 counties, ahead of countries such as Mexico ($1.15 trillion) and Indonesia ($1.01 trillion).

Whether in work, retirement, or further education, LGBTQIA+ individuals of all ages contribute financially. From Paying their rent, buying food and clothing, to an annual vacation, all these transactions support a country and the world economy. The more money an individual or group has, the higher the purchase or spending power. The greater the spending power, the more influence that person or group has, especially how they are treated.

Even though there are many professionals in the LGBTQIA+ community, there are disturbing statistics concerning their treatment. It is estimated that over 40% of all homeless young adults and minors identify as LGBTQIA+, either thrown out of their homes or run away because of how they identify. With many youths homeless, some struggle to receive a basic education, affecting the rest of their lives. In some countries, transgender individuals struggle to find work due to society’s lack of acceptance of their identity, forcing some into sex work or low paid employment.

The LGBTQIA+ dollar index is based on U.S Dollars ($). It is compiled using the global population of the community and the Household Consumption Expenditure (HCE) element of the Gross Domestic Product (GDP) for each country worldwide. The HCE is then applied to the population estimates within the LGTBQ+ Population Index to estimate the average spending per person by country, region, and continent.