Is Clustering a way to Thrive?

The excellent NPR Planet Money Blog had a posting Why Clusters Of Like Businesses Thrive about the advantages of having similar (or even identical) businesses cluster together in a particular area. Briefly, having other nearby businesses with similar needs and concerns as your own business seems to result in many benefits such as reduced ad-spend, increased safety, better access to wholesalers and customers, etc. In return, you may have a lower margin, but make it up on much higher volume.

I was wondering how this concept applies to individuals with similar cultural background clustering together. One of the obvious advantages of living in a neighborhood with a distinct cultural flavor could be that a residents association could negotiate better prices from nearby businesses for all members of that community; there would be stronger collective power to influence the local politicians for neighborhood enhancement; there would be more of a feeling of a neighborhood and a sense of belonging to the community, something that I really miss here in New York City; religious and cultural events could be celebrated with greater enthusiasm and participation.

The disadvantage would be that you would miss out on the richness of exploring the different approaches to life that other cultures have.

I am sure there are lots of other angles to this that I am missing out on? Would love to hear some other viewpoints on this.