South Asians: America’s Fastest Growing and Most Affluent Consumer Group
New York, New York – October, 2015 -Emerging Networks, the country’s largest South Asian Television Rep Firm, announced that updated data from the U.S. Census indicates that South Asian-Americans have surpassed Hispanic-Americans becoming the fastest growing ethnic group in the U.S. With significantly outstanding education and affluence level, South Asian-Americans have quickly become America’s new elite.
The most recent United States Census report (American Community Survey 2012) reported that nearly 4 million South Asian-Americans are living in the U.S. comprised of individuals with Asian Indian, Pakistani, Bangladeshi, Nepali, Sri Lankan, and Bhutanese ancestries. Approximately 67% (2.5 million) of them are U.S. citizens. The South Asian-American population grew 81%, greatly exceeding the 43% growth rate of the Hispanic-American population, making them the fastest growing ethnic segment in the U.S.
At the same time, South Asian-Americans’ average affluence level also exceeded other ethnic groups in the U.S. Asian Indian-Americans, in particular, the major segment (over 80%) among South Asian-Americans, are tremendously well-educated and up on the economic ladder. According to Pew Research Center report
data, in 2010, 70% of Asian Indian-Americans age 25 and older had college degrees, 2.5 times the rate among the general U.S. population (28%). The most recent data from American Community Survey shows that in 2013, 69.3% of Indian-Americans 16 and older were in management, business, science and arts occupations. At the same time, U.S. Bureau of Census released data that in 2013, the median household income for Asian Indian-Americans has rocketed to $100,547, almost double the national median income of $51,000. South Asians are the first ethnic segment in America to cross the $100,000 median income threshold.
With incomparable growth rate and prominent affluence, South Asian-Americans have emerged as the fastest-growing new elite group in the U.S. The time has come for U.S. marketers and political advisers to recognize this dynamic ethnic group as a potential difference maker in their campaigns.
About Emerging Netowrks:
Emerging Networks LLC is the country’s largest South Asian Television Rep Firm; providing a one stop shop for delivering the rapidly growing and affluent South Asian consumer segment in the U.S.. Emerging Networks represents a multitude of top South Asian Television platforms including Willow Cricket, Sony Entertainment, TV Asia, B4U Networks, NDTV, Times Now, Diya TV, Jus Punjabi, Crossings TV and the Asian Variety Show. For more information, visit www.emergingnetworks.tv