How the Worldwide LGBTQIA+ Dollar Index was calculated

As the saying goes, money makes the world go around, and, like all ethnic groups, nationalities, and communities, LGBTQIA+ individuals contribute to their local countries 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, would rank 14th out of 190 countries in 2019, ahead of countries such as Mexico ($1.15 trillion) and Indonesia ($1.01 trillion).

Whether in the workforce, in retirement, or in further education, LGBTQIA+ individuals of all ages contribute financially. From paying their rent and buying food and clothing to taking an annual vacation, all these transactions support a country’s and the world’s economy. The more money an individual or group has, the greater their purchasing power. The greater the spending power, the more influence that person or group has, especially in 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 running 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 community population and the Household Consumption Expenditure (HCE) component of Gross Domestic Product (GDP) for each country worldwide. The HCE is then applied to the population estimates within the LGBTQ+ Population Index to estimate the average spending per person by country, region, and continent.