A couple of decades ago, knowing more than one language was not a necessity for those who work in business since businesses were focused on the national market and the international aspect wasnát as popularized with smaller firms.
This has changed in recent decades to bilingual being a basic standard when hiring anyone, especially when wanting to work in business or tourism. The globalization the world has gotten to experience all led to us becoming surrounded by multiple cultures, languages, and people almost all the time.
Developing an international market is crucial for becoming a successful business nowadays, with private small businesses struggling more than ever to survive in the economic climate we find ourselves in. Another reason business languages are of utmost importance is also due to the large influx of immigration and tourism that has occurred globally.
There are many reasons why communication is so important, namely speech being an excellent outlet to maintain clientele and to market to the general consumer audience. If your company is able to market to wider crowds, your consumer base will also likely increase, leading to better profits and better long-term stability regarding the company.
Knowing more than one language has also been shown to improve certain functions of the brain such as analytical thinking and general decision-making, as well as provide people with different perspectives, allowing them to “think outside the box.” Let’s look at what languages are the most ideal ones to learn for the business world.
The English language is the most critical language to know globally. The economic, cultural, and social fabrics of society are now interwoven with this language thanks to the heavy globalization and colonization many nations endured and are in the midst of enduring currently.
The language is fairly easy to learn and can quite easily be spoken as well. One-quarter of the global population is able to speak English, underlining the importance this language holds, especially within business. Since you are reading this article, it is safe to presume you already understand English.
If you are a U.S.-based business, chances are you probably already know English. This gives you a market advantage globally without needing to put in any extra effort, as well as an advantage in your national market.
China has one of the most dominant economies in the world currently, not only thanks to its large industries but also the sheer size of its population. It is estimated that around 1 billion individuals speak either Mandarin or Cantonese, many of which also partake in strong multinational businesses such as international corporations.
China has been embarking on a massive economic reform and its annual growth is estimated to be around 6-8% annually on average. Mandarin is needed especially for tourism, communications, and technology, underlining its dominance over the various markets.
Technology is especially the market in which China holds dominance in the United States, meaning if you are a tech firm it is crucial to learn Mandarin for a strong business. The other market where Mandarin may come in useful is anything to do with fast products and drop-shipping.
The up-and-coming language may come in handy now with the way global markets are shifting is Arabic. A little less than half-a-million individuals speak Arabic globally, many of those being situated in Europe or North America. The industries in which Arabic is most prominent are oil, government, and marketing.
The benefits of learning Arabic are mainly for governmental jobs as well as marketing since multiple countries speak Arabic and generally have similar dialects. The U.S. is the second largest consumer of fuel and, thus, crude oil, making Arabic a key language in business ties between the United States and countries like Saudi Arabia.
If you are focusing mostly on situating yourself in Europe, German takes the forefront as one of the more important languages to learn for business. The industries German-speaking languages have focused on include general high-quality products, cars, automotive parts, chemicals, and so on.
German is the fourth most spoken language globally, next to having the best economy in all of Europe, making it a strong entity for the U.S. economy to have in its vicinity. From large amounts of car exports making their way to the U.S.A. to sports brands, the ties are necessary.
French is known for its versatility, thanks to it being recognized as an official language in 29 different countries, making it the second most spoken language in Europe right after German, thanks to French colonialists from history.
The strongest markets between the U.S. and France arenát just based on politics but also highly rely on trade, mainly for wines and alcohols, as well as pharmaceutical and cosmetic products.
There are many other languages that can prove useful for international business regarding U.S. companies. The reason these languages are so sought after is for the stronger connections and underlying respect they represent when making deals, especially since international deals tend to hold more importance in today’s globalized market