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Asian Population Makes Most, Spends Most

April 9, 2013
by shallo
Miami — The Asian population, which is expected to grow at a rate of 57 percent through 2013, tops the list of ethnic groups in the U.S. in terms of annual income and spends more throughout their lifetimes than any other minority, according to GeoScape International, Inc.’s American Marketscape Datastream report. With a median annual household income of $70,861 the Asian population makes more than the white population, which has an average median household income of $57,042. Hispanics report an average median household income of $43,171 anually; black Americans’ income averages $36,476 annually. Asians also spend the most money throughout their lifetimes with average individual expenditures amounting to about $2.4 million. Hispanics spend an average of $2 million throughout their lives, non-Hispanic whites spend $1.6 million and blacks spend $1.3 million. Hispanics spend the most each year on food and beverages, the results show, followed by blacks and Asians.

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