Minority groups, including African Americans, Hispanics, and Asians, especially in a growing middle class, comprise an emerging market in the United States (Schwartz, Global Business Network, 2000). It is estimated that through 2025, the population of ethnic minorities in the United States will grow eight times faster than the White population; by the year 2050, some estimates project that “minorities” will make up nearly 50% of the United States population. As minority groups continue to grow in population, wealth, and buying power, it becomes imperative that businesses understand the differences among different segments of the population that will be consuming their products. This paper examines projected demographic changes for the State of Florida and the implications these changes have on increasing market opportunities for businesses. Researchers from the Northeast Florida Center for Community Initiatives used Geographic information systems (GIS) computer applications to conduct spatial analysis of U.S. Census Data, as well as proprietary economic and social indicators, to develop an analysis of distribution of certain ethnicities in Florida. The purpose of this paper is to identify potential areas of significant emerging market populations within Florida in order to improve service outreach for various economic opportunities during the coming decade.
Population Research and Policy Review – Springer Journals
Published: May 28, 2008
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