THE ECONOMIC BENEFITS OF LEARNING SPANISH

You can't really put a price on how valuable it is to learn Spanish. Spanish is the second most spoken language in the world when it comes to native speakers. When you consider the amount of Spanish speaking people that are spreading all across the world, it’s no surprise that businesses demand for the language is at an all time high as they try to connect with Spanish consumers.

The ability to speak Spanish offers employees a competitive advantage in those countries that work with Spain and Latin America. China is an example of one of the countries that has taken note of this shift and thus the demand to learn Spanish has increased significantly. For many people learning Spanish is becoming a business necessity. With over 35 million Spanish speakers in United States, and with more than 40% of the population growth being the Hispanic people, the platform is set for an incredible increase in the Spanish language.

Let’s take a look at some of the most notable economic benefits of learning Spanish

More international employment opportunities

It may come as a surprise to you, but Spanish is no longer considered to be a foreign language in the United States. Spanish is rising far ahead of any other non-English language at an extraordinary pace due to the steady flow of new immigrants flocking in from Latin America over the years.

Aside from the U.S, we have Latin America itself to think about. With copper in Chile and Peru, crude oil in Venezuela, and soybeans in Argentina, that side of the world has some bright economic potential. So much so that China has pledged to invest $250 billion throughout the next 10 years - and that’s saying a lot. The fact is those economies that are considered to be Spanish-speaking are on the rise and their people are securing buying power. Of course, this means that there is bound to be a steady increase in international jobs for those who can speak Spanish, or more importantly, are multilingual. While speaking English is ok if you want to purchase something, you will need to speak the language that your customers understand when you are wanting to sell a product and are looking to entice them.

The competitive advantage of Spanish

Many employers place more value on those employees who can speak various languages. And Spanish comes with a big advantage. As crazy as it sounds, being able to write “speaks Spanish" on your CV opens up more job opportunities and magically seems to add dollars to the bank account. It has been estimated that the ability to speak Spanish can add about 10-15% to your salary, particularly in jobs like marketing, sales, and technical support.

As you can imagine, knowing Spanish is vital when it comes to negotiations, close contact communication, and salesmanship, and as a result, companies are willing to pay a premium for this skill. Employers are always looking for new employees to hire with a specific skill set, as this helps them to connect with new clients, businesses, and to expand their efforts.

Spanish broadens economic horizons and personal potential

Aside from giving you more ways to say “hi" and using other common greetings and phrases, Spanish will open up your world to almost half a billion people who have different ways of thinking and experience the world in different ways. The fact is, foreign trade has opened up the necessity for international businesses to adapt to the need of foreign clients and to communicate with foreign partners effectively in order to be successful.

Nearly 80% of those in charge of businesses and have been surveyed believe that their business as a whole would increase significantly if they had more employees who were internationally competent. If you want to participate in international business in the world, you need to understand the culture and speak the language. Today, Spanish is spoken in 20 countries and the combined GDP of Spanish-speaking countries is well over $6 trillion. Spanish is ranked 4th in terms of highest global GDP, behind English, Chinese, and Japanese. The opportunities really are endless if you have the ability to speak Spanish.

Travel opportunities

If you like the thought of travelling around the world, speaking Spanish could be just the skill that you need. If you’re one of the few people in your company who can speak Spanish, or even better, the only one, you have an increased opportunity to travel as part of your job. Think about it - if business needs to be done in a Spanish-speaking country, it makes sense for the company to send those who are able to speak the language. Whether you’re in customer relations, marketing, consulting, investing, or whatever your position may be, travelling is a real possibility if you have the ability to speak Spanish.