1 / 28

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

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

emily
Download Presentation

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

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. The Asian American Market: A Lucrative Untapped Opportunity for Caribbean Tourismpresented to December 9, 2005

  2. 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

  3. Financial Services

  4. Automotive

  5. Telecommunications

  6. Others

  7. Who are the Asian Americans?

  8. 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

  9. 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

  10. 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

  11. % 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

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

  13. Asian Media Cost Source: NBC Spot Sales, Nielsen, Bravo, Kang & Lee

  14. Chinese Media CPM Geo Geo

  15. Asian Americans -Geographic Distribution

  16. 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

  17. 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

  18. Asian Profile In Core Caribbean Feeder Markets Source: Census 2000

  19. Opportunities to Market Tourism to Asian Americans

  20. 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

  21. 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

  22. 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

  23. 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

  24. The Tourism Industry Competitive Landscape in the Asian American Market

  25. 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

  26. The Only Active Category …..

  27. 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 !!

  28. Thank You !!! Saul_Gitlin@kanglee.com www.kanglee.com

More Related