The United States of America is experiencing a demographic revolution. The population is more diverse than ever with 120 million multicultural inhabitants who are younger and growing at a much higher pace than the average population. And while the growth and influence of Hispanics in the U.S. have been largely covered in the media, one ethnic group still did not get the recognition and focus they deserve: Asian Americans.
THE NATION’S WEALTHIEST, MOST EDUCATED AND FASTEST GROWING POPULATION SEGMENT
Nielsen recently released a report entitled: Asian Americans: Culturally Diverse And Expanding Their Footprint that clearly shows the impact and growing influence of this group in our country. While they “only” represent 6% of the total population, Asian Americans are the nation’s wealthiest, most educated and fastest growing population segment. They are growing at a faster pace than any other ethnic groups (+25% from 2009 to 2014) and are expected to surpass Hispanics by the year 2055.
Not only are they growing, Asian Americans have an incredibly positive impact in the country. Their household median income is 39% greater than the national median income with a buying power expected to reach $1.1 trillion by the year 2020. One notable fact about Asian Americans is their high level of education: 54% hold a bachelor degree much higher than the U.S. national average which staggers at 33%.
One element that really set Asian Americans apart from the other ethnic groups is their one of a kind diversity. According to Nielsen, 40 different ethnicities compose this multicultural segment with Asians of Chinese ancestry being the largest group “representing 20% of the Asian-American population. South Asian Indians (17%), Filipinos (16%), Vietnamese (9%), Koreans (9%) and Japanese (6%) are the next largest groups.”
Now more than ever is the time to get better acquainted with Asian Americans. They will undoubtedly continue to shape the future of our country given the profound influence they already have on it.
Cultural relevance is no longer an option! Share this infographic now and spread the word about the incredible opportunity that is represented by Asian Americans! Download the Nielsen report here.