Houston Community News >> Asian Buying Power Zooms
9/3/2006 Georgia- Seong Kim sells a steady supply of red bean bread and luscious cakes to Korean, Chinese and Japanese customers who depend on her Duluth bakery for a taste of home.
As metro Atlanta becomes home to one of the fastest-growing Asian communities in the nation, merchants specializing in services to Asians see a growth market.
The buying power of Georgia's Asian community has grown more than sixfold in 16 years, from $1.1 billion in 1990 to $7.4 billion now, according to a report on minority buying power released today by the University of Georgia's Selig Center for Economic Growth
Georgia ranks third among U.S. states in the growth of Asian buying power, according to the report. And metro Atlanta has the second-fastest-growing Asian community of the nation's top 20 metropolitan areas with large Asian populations, according to analysis of recent census data by Kang & Lee Advertising.
While Asians, being a smaller group, spend less than blacks or Hispanics in Georgia, they have a higher per capita income, Humphreys said.
(Contributed by AJC.com)