U.S. Ethnic Data Trends: 2023

Did you know that the fastest-growing racial and ethnic segments in the United States are Asians and Hispanics? It's true! And yet, despite their rapid growth, there are still a lot of things we do not know about these communities. Check out this week’s tidbit taking a closer look at these diverse and dynamic populations.

It's time to unbundle the Asian and Hispanic segments to #SeeALL

1 in 4 Americans now identify as either Asian or Hispanic

Asians +35.6% and Hispanics +23% are the fastest-growing racial and ethnic groups (2010 to 2020).?

To truly understand the opportunity and craft meaningful and engaging multicultural campaigns, it’s time to breakdown the construct of the Asian and Hispanic segments:

? Mexican: 37M?

? Puerto Rican: 6M?

? Chinese: 5.4M?

? Indian: 5.4M?

? Filipino: 4.4M?

? Cuban: 2.4M?

? Vietnamese: 2.4M

Driving growth: Hispanic is the new mainstream

According to the 2020 Census the white population declined for the first time in history and the Foreign-born with European ancestry has dropped from 74% to 11%.?

Hispanics have now become the growth drivers:

? Hispanic GDP in 2020: $2.8T (+$1 trillion, in 10 years)

? Hispanic owned businesses generated 2.9M jobs in 2019

? Hispanics majority in California: 40.2% vs. 34.3% white pop.

? Hispanics majority in Texas: 40.2% vs 39.4% white pop.

? Median age of Hispanics: 29.8 vs 43.7 white pop.

Growing cultural segments (2010–’19):

1. Mexican: +4.8M?

2. Indian: +1.5M?

3. Chinese: +1.3M?

4. Filipino: +800k

Hello Multicultural Nation! We're excited to announce the launch of our new newsletter, Diversity Is Now, featuring the latest trends and insights from our team of industry experts, case studies of successful multicultural marketing campaigns, and deeper dives into the world of MIKADO International and what keeps us running. Check out our weekly articles here or view the full version at:?https://www.mikadointl.com/work/news/

Sources: MI, Census