Title: The Asian American Market: A Lucrative Untapped Opportunity for Caribbean Tourism presented to
1The Asian American Market A Lucrative Untapped
Opportunity for Caribbean Tourismpresented to
December 9, 2005
2Who Is The Ideal Target For Caribbean Tourism ??
- Sizeable Population with future growth
- Educated / Affluent
- Frequent Travelers (strong per-trip spending)
- Close Proximity
- Distinctly Targetable / Reachable
3Financial Services
4Automotive
5Telecommunications
6Others
7Who are the Asian Americans?
8The Asian American Market
- 11.9 million 4.2 of the US population (includes
1.7 million multiracial Asians) - 10.2 million 3.6 of the US population
(single-race Asians only) - 50 in CA, NY, TX
- 12 of California
- 10 of NYC, 10 of LA, 30 of SF
- Key secondary markets
- Chicago, DC-MD-VA, Houston/Dallas, Seattle,
Philadelphia, Boston, Atlanta - Fastest growing racial groups in the U.S.- 49
population growth since 1990 - (White 5.8, Black 15.8, Native American 22.9)
- Highest median HHI gt 9,000 ahead of non-Hispanic
white - Asian 55K, Non-Hispanic White 46, Hispanic
33k, Black 30k - Highest level of educational attainment 44 BA
or higher - Non-Hispanic White 28, Black 17, Hispanic 11
- One of the highest rates of entrepreneurial
activity - 1997 893K businesses nationwide 302 billion
in revenue
9The Asian American Market
- Asian households are more likely than any other
group to be in the 75K or above annual income
range.
Source US Census Bureau, Census 2000
10Top Asian Groups in the U.S.
- 87.5 of Asian Americans are accounted for by the
top six subsegments - In rank order by national population
- Chinese 2,432,585
- Filipino 1,850,314
- Asian Indian 1,678,765
- Vietnamese 1,122,528
- Korean 1,076,872
- Japanese 796,700
Note only includes Asians who reported a single
race.
Source US Census 2000
11 Of Foreign Born
Asian-American Demography Foreign Born
Language Preference
In-language Preference
The overwhelming majority of Asians are foreign
born and exhibit a corresponding strong
preference for in-culture/language
communications.
As of Census 2000, and for the first time in
history, Chinese is now the 2nd most prevalent
foreign language spoken in US households after
Spanish.
NOTE US Census statistics for Japanese are
exclusive of Japanese expats/foreign
students, approximately 250k in any given year.
These groups are highly Japanese-language
preferred.
Source Foreign Born Current Population Survey,
2000 In-Language Preference Census 2000
12Asian American Media Landscape
- Asian American in-language preference for
communications is evidenced by a rich in-language
media environment
13Asian Media Cost
- Source NBC Spot Sales, Nielsen, Bravo, Kang
Lee
14Chinese Media CPM
15Asian Americans -Geographic Distribution
16Asian-American Demography Geographic Distribution
- Over half of Asians live in three states
California, New York, Texas
76 of all Asians live in the top 10 states
90 of all Asians live in the top 20 states
Source U.S. Census Bureau, Census 2000
17Closest Asian Feeder Markets For The Caribbean
Boston Total Asians - 231,492 Top
Groups Chinese - 83,238 Asian Indian -
42,153 Korean - 33,164
New York Total Asians - 1,437,583 Top
Groups Chinese - 504,793 Asian Indian -
398,425 Korean - 171,423
Chicago Total Asians - 389,403 Top
Groups Asian Indian - 115,501 Filipino -
82,936 Chinese - 69,662
Washington DC Total Asians - 393,957 Top
Groups Asian Indian - 86,496 Chinese -
76,596 Korean - 74,052
Houston Total Asians - 224,303 Top
Groups Vietnamese - 64,155 Asian Indian -
51,678 Chinese - 47,022
Atlanta Total Asians - 133,073 Top
Groups Asian Indian - 35,761 Vietnamese -
24,248 Korean - 21,862
Dallas Total Asians - 192,726 Top Groups Asian
Indian - 48,854 Vietnamese -
45,488 Chinese - 34,581
18Asian Profile In Core Caribbean Feeder Markets
Source Census 2000
19Opportunities to Market Tourism to Asian Americans
20Asian American Traveling Behavior
- Since Asian-Americans have, on average, the most
affluent households in the US, they are among the
most attractive consumer audiences for marketers
of international travel products - Most likely to travel by air.
- Most likely to travel first-class or business
class. - Most likely to spend more on a per-trip basis.
Source The Minority Traveler
21Top Five Popular Destination Activities
- Gambling is the most popular tourist destination
activity for Asian Americans followed by
Nightlife and Theme Parks
Source The Minority Traveler
100Total U.S. Domestic Travel
22Asian American Traveling Behavior
- On average, Asian Americans take longer trips
(4.4 nights) when compared to the average
domestic traveler
Source The Minority Traveler
100Total U.S. Domestic Travel
23Asian American Traveling Behavior
- Asian Americans tend to spend more heavily per
trip when compared to the average domestic
traveler
Source The Minority Traveler
100Total U.S. Domestic Travel
24The Tourism Industry Competitive Landscape in the
Asian American Market
25Asian American Tourism Industry Competitive
Landscape
- US Tourism
- State tourist boards
- City Destinations
- National Landmarks
- Environmental Parks Sanctuaries
- Theme destinations
- Domestic hotel chains, airlines, rental cars
- Canada Tourism
- National tourist board, provincial, city
- Mexico Tourism
- National tourist board, resort destinations,
hotels, other. - South America Tourism
- National tourist boards
- European Tourism
- Pan-European tourist authorities
- National tourist boards
- City destinations
- Regional destinations (Mediterranean)
- Eurail
- Airlines, hotels, property/car rentals
- International Airlines
- International Cruise lines
- International hotel chains
- Other travel leisure marketing
- Asia
- Africa
- Other regions
26The Only Active Category ..
27In Conclusion, The Asian American Market
Has an ideal target profile for a wide variety of
Caribbean marketers
Can be distinctly reached/addressed through
dedicated Asian media and marketing channels .
Exhibits a near-complete lack of competitive
clutter in the travel leisure categories !!
28Thank You !!!
- Saul_Gitlin_at_kanglee.com
- www.kanglee.com