Asian Americans comprise the highest-income, best-educated and fastest-growing racial group in the United States, according to a recent report released by Pew Research Group. The report, “The Rise of Asian Americans,” also found that Asians now make up the largest share of recent immigrants, surpassing Hispanics as the predominant U.S. immigrants.
The report begins with a definition of Asian Americans, stating that “Asian Americans are a distinctive group, and the population is by no means a monolith. It is made up of immigrants or their descendants from dozens of countries in the Far East, Southeast Asia and the Indian subcontinent, each with a unique history, culture, language and pathway to America.”
The report continues to explain that Asian Americans are more satisfied than the general public with their lives, finances and the direction of their country, and that they also place more importance on marriage, parenthood, hard work and career success than the rest of America’s demographic. This is because Asian Americans tend to believe that the U.S. offers more opportunities and freedoms than their home countries, as well as the cultural emphasis on higher education, hard work and family.
When it comes to personal prosperity, the education and work ethic of Asian Americans pays off. According to a personal opinion poll, Asian Americans are more apt to consider their personal financial situation as “good,” while the general public is prone to report an “only fair” status. The median household income is $66,000 for Asian Americans, as compared to $49,800 for the general public.
There are a total of 18,205,898 U.S. Asian Americans, making up 5.8% of the total U.S. population. Some 74% of Asian-American adults (18+) are foreign born. The Chinese account for the largest group of Asian Americans, followed by Filipino, Indian, Vietnamese, Korean and Japanese.
The larger portion of Chinese immigrants may be because the Chinese were the first to immigrate to the United States during the California gold rush. Early Chinese immigrants were largely male laborers, while recent immigrants within the past forty years include a large number of educated professionals.
As Asian American culture becomes more mainstream, issues such as immigration, investment and influence will become more widely documented. The recent push to extend the eB-5 Visa program by Vermont Senator Patrick Leahy; the Presidential approval of immigration reform; recent reports on foreign investors leading to patents and news on foreign investments helping to improve the U.S. economy all mirror the increase in acceptance and appreciation of the matter.
This report was brought to you by Florida Regional Center. Established as an agent of the 1990 Congress-approved EB-5 Regional Center Program, the firm represents EB-5 investment-related projects in the greater South Florida area and beyond. Florida Regional Center works with foreign investors and their families to obtain EB-5 Visas and permanent residency in exchange for investments in community developing and economy boosting campaigns.
For m ore information on EB-5 Visas and the EB-5 Visa Program, to learn about Florida Regional Center or to speak with a representative from Florida Regional Center, visit visaeb-5.com.