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The Asian American Market: A Lucrative Untapped Opportunity for Caribbean Tourism presented to. December 9, 2005. Who Is The Ideal Target For Caribbean Tourism ??. Sizeable Population with future growth Educated / Affluent Frequent Travelers (strong per-trip spending) Close Proximity

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The asian american market a lucrative untapped opportunity for caribbean tourism presented to

The Asian American Market: A Lucrative Untapped Opportunity for Caribbean Tourismpresented to

December 9, 2005


Who is the ideal target for caribbean tourism

Who 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


Financial services

Financial Services


Automotive

Automotive


Telecommunications

Telecommunications


Others

Others


Who are the asian americans

Who are the Asian Americans?


The asian american market

The 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 > $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

    • 1997: 11% of all businesses in CA, 8% of all businesses in NY


The asian american market1

The 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


Top asian groups in the u s

Top 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

  • Chinese2,432,585

  • Filipino1,850,314

  • Asian Indian1,678,765

  • Vietnamese1,122,528

  • Korean1,076,872

  • Japanese 796,700

*Note: only includes Asians who reported a single race.

Source: US Census 2000


Of foreign born

% 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


Asian american media landscape

Asian American Media Landscape

  • Asian American in-language preference for communications is evidenced by a rich in-language media environment


Asian media cost

Asian Media Cost

Source: NBC Spot Sales, Nielsen, Bravo, Kang & Lee


Chinese media cpm

Chinese Media CPM

Geo

Geo


Asian americans geographic distribution

Asian Americans -Geographic Distribution


Asian american demography geographic distribution

Asian-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


Closest asian feeder markets for the caribbean

Closest 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


Asian profile in core caribbean feeder markets

Asian Profile In Core Caribbean Feeder Markets

Source: Census 2000


Opportunities to market tourism to asian americans

Opportunities to Market Tourism to Asian Americans


Asian american traveling behavior

Asian 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


Top five popular destination activities

Top 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

100=Total U.S. Domestic Travel


Asian american traveling behavior1

Asian American Traveling Behavior

  • On average, Asian Americans take longer trips (4.4 nights) when compared to the average domestic traveler

Source: The Minority Traveler

100=Total U.S. Domestic Travel


Asian american traveling behavior2

Asian American Traveling Behavior

  • Asian Americans tend to spend more heavily per trip when compared to the average domestic traveler

Source: The Minority Traveler

100=Total U.S. Domestic Travel


The tourism industry competitive landscape in the asian american market

The Tourism Industry Competitive Landscape in the Asian American Market


Asian american tourism industry competitive landscape

Asian 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


The only active category

The Only Active Category …..


In conclusion the asian american market

In 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 !!


Thank you

Thank You !!!

[email protected]

www.kanglee.com


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