| According
to the 2000 U.S. Census, there are approximately 2.7 million ethnic
Chinese residing in the United States. The majority of them are
first generation immigrants. Eighty-one percent of Chinese Americans
prefer in-language communication. In fact, Chinese now ranks #2
in the nation, after Spanish, as the foreign-language most commonly
spoken in U.S. households. Due to cultural and language barriers,
this market represents the most significant untapped market in
the U.S.
Asians
are the fastest growing ethnic group in the United States
Between
1990 and 2000, the number of Asians in the U.S. grew by nearly
50%, or a staggering 72% when including those who are Asian in
combination with another race or ethnic group. By comparison,
the total U.S. population grew by only 13%.
Most
coveted consumer demographic
Highest-income:
In 2001, the median household income of Asian Americans was
21% higher than the general population and 16% higher than non-hispanic
whites. Asian Americans typically have the most disposable income
and greatest purchasing power.
Highly-educated:
44% of Asian American adults 25 and over hold a bachelor's degree
or higher compared with 26% for all adults in the U.S. and 28%
for non-hispanic whites. One out of seven Asian Americans holds
an advanced degree.
Chinese
are the largest Asian group
Nearly
a quarter of all Asian Americans are Chinese and immigrants from
China represent the second largest immigrant group to the United
States in recent years. From 1990 to 2000, the Chinese population
in the United States grew by 48%.
The
number of Chinese-owned businesses grew more than four times as
fast as U.S. firms overall from 1992-1997. Sales
of Chinese-owned businesses grew 28.2% more than U.S. firms overall
and led sales of Asian-owned businesses to be more than that of
any other minority group.
     
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