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.