With the increasing buying power and population, coupled with a tradition of an entrepreneurial drive and competitive spirit, Asian Americans are a segment of the population you cannot afford to ignore. The following facts and statistics will give you a clear picture of Asian American businesses and the community.

Asian American Demographics

• In 2004, there were nearly 12,097,281 Asian Americans and 403,832 Pacific Islanders in the United States, comprising 4.2 percent of the total population. These figures do not include people of multiple race heritage.
  
• Current projections estimate the Asian American and Pacific Islander population to reach 34 million by 2050 based on birthing patterns and immigration trends.
  
• By 2020, Census projections estimate that there will be 20 million APAs in our nation. The elimination of racially based immigration quotas in 1965 and the subsequent waves of immigrants and refugees from Southeast Asia and the Pacific Islands diversified and increased the number of APAs.
  
• The top six Asian American populations are Chinese, Filipino, Japanese, Korean, Asian Indian, and Vietnamese
  
• With approximately $230 billion in spending power, Asian Americans are a powerful force in the United States consumer market
  
• In 2000, Asian and Pacific Islanders had the highest median household income, at $51,205, among all ethnic races in the United States Geometric Growth
  
• Asian American-owned companies experienced a growth rate of 30 percent from 1992 to 1997, and a revenue growth rate of 46 percent during the same time period
  
• At 913,000 firms, Asian American-owned businesses generated a total of $306.9 billion in sales with each firm averaging $336,200
  
• Asian American-owned businesses employed more than 2.2 million workers in 2000.
  
• Over 50 percent of all minority-owned businesses whose sales exceeded one million dollars were Asian American-owned.
  Comparison with Other Supplier Markets
  
• Although Asian American businesses represent only one-third of all minority businesses, Asian American-owned businesses accounted for a gross receipt of $306 billion or 51.3 percent of the $598.2 billion revenue of all minority-owned businesses generated in 1997
  
• Revenues were far higher for businesses with employees than for self-employed individuals without employees
  The number of businesses owned by Asian Americans in 1997 was 913,000, compared with Hispanic-owned businesses at 1.1 million and black-owned at 823,499
  
• Business Profile
  Asian American-owned firms are not just dry cleaners and “mom-and-pop” grocery stores. Asian American businesses represent all industries including:
  • Engineering
  • Accounting
  • Research
  • Facilities Management
  • Advertising, Marketing & Public Relations
  • Real Estate
  • Healthcare
  • Security & Commodity Brokers
  • Manufacturing
• Transportation
  
  Top 6 Asian American business groups by ethnicity
  
  
  
  Survey of Minority Small Business Owners, 2002: Preliminary Estimates