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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
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

  • 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

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

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 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

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
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 !!!

Saul_Gitlin@kanglee.com

www.kanglee.com