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Many businesses in different industries have come to recognize the growing potential of what was once known as the “invisible” market- Asian-Americans. Over the past decade, Koreans in particular have exhibited great aptitude in competing with the global market. As the eleventh largest economy in the world, Korea continues to expand its global outreach.
South Korea is one of Asia’s contemporary success stories, despite the blimp on the radar caused by its financial crisis in the middle of the last decade, its growth has out-paced that of East Asian neighbors’ Japan and Taiwan as well as that of South East Asian counterparts.
"…Asian-American spending power will reach $528 billion by 2009, an increase of nearly 347% since 1990."
- Source: American Demographics, November 2002, U.S. Census Bureau 2003, Selig Center, First Quarter 2004 |
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New Jersey 674,234
New York (Long Island, New York City) 1,388,307
Connecticut 125,378
Pennsylvania 310,255
TOTAL 2,498,174
- Source: U.S. Census Bureau, 2006 |
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| Rank |
State |
Population(MM) |
2003 Buying Power($B)* |
2008 Buying Power($B)* |
|
| 1 |
California |
4.0 |
$122 |
$176 |
|
| 2 |
New York |
1.0 |
34 |
51 |
|
| 3 |
New Jersey |
0.5 |
21 |
34 |
|
| 4 |
Texas |
0.6 |
20 |
34 |
|
| 5 |
Hawaii |
0.5 |
17 |
21 |
|
|
| - Source: U.S. Census Bureau, 2000; Selig Center for Economic Growth, 2003 |
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