|
|
|
The South Asian Market Defined
Forsythe Advertising specializes in targeting the most affluent demographic in North America, the South Asian consumer. This market is comprised mostly of South Asian-Indians but also includes South Asian-Pakistanis, South Asian-Bangladeshis and South Asian-Sri Lankans. This demographic is the most ideal target audience for any advertiser wishing to expand its brand and monetize from its services. Here are some facts about the South Asian demographic:
- Combined disposal income of $88 Billion
- Estimated annual buying power of $20 Billion
- South Asian Americans represent the most lucrative ethnic group in the US. Their consumer choices include frequent trips overseas (54%), dining out (54%), and purchase of high-price electronics (92%)
- One in every nine Indians in the US is a millionaire, comprising 10% of US millionaires
- Third largest Asian American group with a population of 2,482,141 (Indian only) and Fastest growing US ethnic group with a population growth rate of 50.8% from 2000-2006
- 43% Asian Indians are between the ages of 25 to 44 with a median age of 32.2 years
- Professional occupations in Medicine, Law, Finance, Education, Engineering and Technology
- 68.6% have a Bachelor’s degree or higher, having the highest educational qualifications of all ethnic groups in the US
- 69.4% Asian Indians are married and 83% have nuclear families
- 55% own one or more homes with a median value of $394,400
- 90% own one or more cars
- Median Household Income: $69,000 (1.5 Times National)
- Own 45% of all hotels/motels in country
- 15% of Foreign Medical Graduates
- 5% of Physicians in USA
- 20% of High Tech Workforce
- 50% of All H1 Visas
- Largest & Fastest Growth of Foreign Students - Ahead of China
- 40% Masters+ (8% National)
- 50% Managerial / Professional
- 33% Technical / Sales
- 8,000 Indian Faculty Members
Demographics – Profile of South Asian Communities
The South Asian Population in comparison to any other Ethnic group in the United States has acquired more success educationally and financially, making it the premier target audience for advertisers.
- The Asian Indian population increased 133% (from 815,447 to 1,899,599)
- The Pakistani population increased 151% (from 81,371 to 204,309
- The Bangladeshi population increased 385% (from 11,838 to 57,412)
- The overall growth of South Asians in the US has been at a rate of 105.9% from 1990-2000, with this number expected to increase exponentially.
Sources: Merrill Lynch, Global Advertising Strategies, US Census American Survey 2006
|
|
|