For too long, the AAPI story has been framed through struggle or “otherness.” Those challenges are real—but they obscure a more powerful truth: the AAPI community is the silent economic engine of the United States. Every May, we celebrate our heritage, but this year it is time to celebrate our impact—and then use that impact to shape our future.
The $1.2 Trillion Reality
We are often called a “small” minority—roughly 7% of the population. But our economic footprint is anything but small. We aren’t just participating in the American economy; we are propelling it. AAPI entrepreneurs own roughly 3 million businesses, employing more than 5.2 million Americans and generating $1.2 trillion in annual receipts—the highest of any minority-owned business group in the country. But the most stunning number is this: between 2003 and 2019, our community—just 5 to 6 percent of the population then—drove nearly 23% of all U.S. private sector growth. From the corner grocery store to the heights of Silicon Valley, that is not just success. It is a juggernaut.
More Than Balance Sheets
Our contribution isn’t limited to balance sheets. We make up 13% of the STEM workforce and more than one in five American physicians. Approximately 57–60% of Asian American adults hold a bachelor’s degree or higher—far surpassing the national average. And in 2019 alone, AAPI households paid around $240 billion in federal, state, and local taxes, according to New American Economy’s analysis of U.S. Census data.
That $240 billion builds the roads, funds the schools, and supports the hospitals that every American relies on. When people talk about “taxpayers,” they are talking about the AAPI community in an outsized way.
And yet, for all we contribute economically, our political participation tells a different story—one we have the power to rewrite.
Connecting the Dots: From Dollars to Democracy
We have mastered the arithmetic of economic growth, but we are failing the math of democracy. Economic power without political participation is incomplete. Numbers don’t change laws—votes do.
Right now, we are a “sleeping giant.” We work long hours, build businesses, and pay our fair share of taxes—but then we stay home on Election Day. In 2024, AAPI youth turnout (ages 18–34) ran nearly 25 points lower than that of Americans 65 and older. This gap has consequences. The policies governing our businesses, our healthcare, and our children’s education are being decided by those who show up.
The Call to Action
I arrived in this country in 1976 with an engineering degree and a willingness to work. Like millions of others, I believed that America rewards effort—and we have put in the effort. We have earned our seat at the table.
But a seat is never “given”; it is taken through participation. It is time to stop complaining about the direction of our country if we aren’t willing to help steer it. Citizenship is not a spectator sport. It is work.
This month, let us be proud of the trillions we contribute and the millions of jobs we create. But let us also resolve to match our economic intensity with civic intensity. When AAPI families participate in our democracy as fully as they participate in our economy, America thrives.
So, Step up. Show up. Speak up. Your vote is the only currency that never loses its value.
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Authors Bio
Kam Shenai is Co-Founder of AAPI Coming Together (ACT Florida). He currently serves as Chair of the Myrtle Creek District Board and on the Board of Trustees for HCA UCF Lake Nona Hospital. He is a patient advocate with the National Kidney Foundation. Kam is also a member of the League of Women Voters of Orange County.