Among today’s active American households, the average Asian and Hispanic household will spend far more in their remaining lifetimes than White non-Hispanic households – by over $800,000 and over $400,000 for the average active household, respectively, according to New Mainstream Business Summit, a report issued by Geoscape, a leading provider of business intelligence technology, data and analytics. The report also reveals that Latino populations in the US are projected to reach 55 million by July 2013, and that White non-Hispanic populations in California and Texas are now a minority.
Other findings in the 2013 American Marketscape DataStream Report include: Los Angeles, New York and Chicago markets are currently home to the largest multicultural populations. Many smaller markets including Seattle, Salt Lake City and Portland, OR are projected to have greater multicultural growth than Los Angeles, New York and Chicago between 2013 and 2018. In California and Texas, the Hispanic population is larger than 39% of the total population. Of the 25 largest populated US markets in 2018, the three markets with the highest projected Hispanic growth rates between 2010 and 2018 are Raleigh-Durham, NC, Seattle-Tacoma, WA, and St. Louis, MO.
The median household income among Asian-American households is now over $70,000.