The U.S. was founded by successive waves of immigrants, and immigrants are still contributing to America today—statistics prove it.

On two key measures of financial performance, immigrants outperform native-born Americans.

First, they are more likely to be entrepreneurs. From 1996 to 2016, the pace at which immigrants started businesses was double that of U.S.-born individuals. Immigrants aren’t just becoming entrepreneurs more frequently. They’re often succeeding. Over 40% of Fortune 500 companies had a founder who was either an immigrant or the child of one.

Another key measure of financial strength is debt level. Immigrants do better in this area too. Immigrants use credit less often for purchasing cars, homes or starting businesses. This results in significantly lower levels of debt than native-born Americans. For example, 34% of Americans born in Latin America report no credit card or installment loan debt. This can be compared to just 19% of the general population.

Why are immigrants doing so well? The values and habits they bring from their own homelands help explain some of the success.

Unemployment tends to be higher in developing countries. That means more people must become entrepreneurs. Credit is also scarcer in most developing countries. This means individuals must save more in order to achieve their goals, or they borrow money from friends and family rather than a bank. That means less debt and potentially better credit outcomes when they reach the U.S.

Q22: What does the passage say statistics prove?
Q23: What do we learn about immigrants in the U.S. compared with native-born Americans?
Q24: What does the passage say about immigrants in the U.S. in terms of financial strength?
Q25: What do immigrants do to achieve their goals in the U.S.?