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Asian American News About Asian Americans Asian Americans are the third largest minority market in the United States, comprising 5 percent of the population. In 2007 Asian Americans buying power reached $459 billion. If Asian Americans were a country they would be the 18th largest economy in the world based on gross domestic product (GDP). Asian Americans like most American families spend 80% of their disposable income within a 20 mile radius of home. 75% of Asian Americans live in just ten states: California, New York, Hawaii, Texas, New Jersey, Illinois, Washington, Florida, Virginia and Massachusetts. In 2002, more than 1.1 million asian owned businesses generated over $326 billion in revenues. Software House International with revenues in excess of $2 billion is the largest asian american owned business in the United States. More than 44% of Asian Americans have college degrees. In 2003 Asian Americans earned 32% of all U.S. doctorates in science, technology, engineering and math. 53% of Asian households earn more than $50,000 annually and 35 percent of Asian households earn more than $75,000 annually. In 2007 the 10 largest Asian markets accounted for 75% of buying power. California ($150 billion) New York ($44 billion) New Jersey ($29 billion) Texas ($29 billion) Hawaii ($21 billion) Illinois ($20 billion) Washington ($14 billion) Florida ($14 billion) Virginia ($13 billion) Massachusetts ($12 billion) Red Carpet Interview at Asian Business Awards | ||||||||||
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