The Filipino American Market
The 2006 American Community Survey (ACS) of the U.S. Census Bureau registered 2.3 million Filipinos living in the United States. The actual number is bigger, with estimates placing the Filipino-American population at about 4 million. The ACS placed the Asian-American population at 13.1 million or 4.4 percent of the total population of just over 299 million.
Filipino-Americans comprise of one of the largest Asian minority group, leading all Asian nations in total immigration in the 1980s and 1990s. It is estimated that 60,000 Filipino immigrants arrive in the United States every year.
About one-third of this population is found on the East Coast with concentration in the northeastern part of the region (New York and New Jersey).
2. PURCHASING POWER
It is not just the headcount that has American companies sitting up and taking notice. The Asian American population is the most affluent demographic segment in the U.S. today and holds a more favorable economic profile than the non-Hispanic white population. The median annual income of Asian American households is $63,642, the highest among all ethnic groups, and $15,000 higher than the national average. Studies show that at $72,548, it is even higher among Filipino Americans, who have had the lowest poverty rate among Asians. The Filipino American market has a disposable income estimated at $52 billion that is projected to reach three-fold by 2010.
Filipino Americans continue to post the highest per capita income among minorities living in the state of New Jersey, and are one of the top earners in New York State.
3. DEMOGRAPHIC INFORMATION
The average size of Filipino households is greater than the average household size in the United States. This means that a Filipino household will consume more products or services than the typical US household. 67% of Filipino households live in a home they own and the vast majority (91.7%) of Filipinos over 25 have finished high school, second only to Japanese Americans. 47.2% have at least a bachelor’s degree, a rate almost twice the national rate.
4. ADVERTISING MESSAGE RECEPTIVITY
Although Filipinos and Filipino Americans speak various dialects depending on which region in the Philippines they originated from, the majority speak Tagalog – the Philippine national language. In addition, this market speaks fluent English with 78% of ACS respondents speaking English very well. Despite the high proficiency in the English language, however, this market is more receptive to advertising messages that uses the dialect they speak or use elements that touches the Filipino culture.