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spanish for business

The Importance of Spanish for Business

The Spanish language is a valuable tool that can help you establish a cultural and commerce connection with a plethora of business partners. Although many are quick to classify Spanish as a ‘foreign’ language, that’s far from the truth. In fact, America is home to more Spanish speakers than Spain, and it’s the official language of 20 countries! The rapid uptick in the demand for Spanish interpreting services backs up the idea that this is fast becoming one of the most important business languages in the world.

Join us as we take a look at the business benefits of speaking Spanish.

Spanish is the Most Common Second Language in the World

There might be more than 7,000 languages in the world, but very few of them are as beneficial in the workplace as Spanish. Spanish isn’t only beneficial for multinational organizations; it’s essential for those operating within the U.S. marketspace too as the Hispanic/Latino population of America is predicted to double within the next two decades. Not communicating in Spanish could see you losing out on endless opportunities to communicate with your potential customer, competitors, and colleagues! If you want to engage Spanish speakers, it’s essential to learn to speak Spanish too!

It’s a Spoken Language Key to The Americas

Outside of the United States, Spanish is the official language of 20 countries including Spain (naturally!), Argentina, Peru, Mexico, Chile, Costa Rica, and Colombia, to name but a few. Speaking the language puts you in touch with millions of consumers throughout the Americas who prefer supporting brands that understand their cultural nuances and offer services in their native language. Although there’s a huge potential market of native Spanish speakers to gain in South American countries, the Spanish-speaking market isn’t limited to Latin American countries.

If You Speak Spanish, You Might Gain a Competitive Advantage

In America, it’s estimated that a mere 20% of the population is bilingual. But in Europe, for example, that number hovers at around 56%! When you offer multilingual communications to your foreign clients and suppliers, you’re much more likely to thrive in business compared to a company that isn’t focused on language diversity. Using Spanish in the workplace is a strategic asset that can help you grow your brand on an international scale.

Multilingualism Bolsters Business Relationships

There has been a rise in the number of Hispanic-owned businesses, which directly ties back to the increasing power of Spanish-speaking consumers. Gaining the linguistic skills necessary to interact with this expanding market isn’t optional anymore, it’s mission-critical as Spanish continues to emerge as the language of economic collaboration.

You’ll Improve Cultural Competence When Incorporating the Spanish Language

Although the Hispanic world is varied and vast, it’s united by its love for one language. When you include Spanish as a business language, it’ll be easier to comprehend the cultural differences that you and your Hispanic clients have. And when you understand the subtle nuances, it makes it that much easier to establish communication that’s clear and concise.

It Can Help You Avoid Losses Due to Lack of Language Fluency

According to the Department of Business, Innovation, and Skills (BIS), the U.K. alone loses roughly $48 billion per year to language deficits, which highlights how the lack of language skills can kill a business. The Hispanic business world contributes around $6 trillion dollars’ worth of business to the global economy every year. While English might still be the international business language, Spanish is fast becoming the second ‘de facto’ language for organizations with global expansion plans.

Social Stats About Spanish Speakers Don’t Lie

Social media is a fundamental aspect of modern marketing strategies, and the social stats reveal the importance of Spanish in the international marketplace. It’s estimated that 377 million Spanish speakers use social media to communicate with each other, which puts the language 2nd in line as the most used language on social media platforms. 73% of Spanish-speaking Facebook users come from the U.S., and almost half of them prefer using social channels to gain and spread information about brands. Plus, 31% of 13.1 million Spanish-speaking users on Instagram prefer engaging with brands that advertise their content in Spanish!

Wrapping Up

As a global language that plays an essential role in modern business, the benefits of Spanish in the workplace are far too great to be ignored. Organizations that include Spanish as a business language will have the upper hand in the ever-expanding global marketplace. The economic benefits of Spanish we’ve mentioned here are just the tip of the iceberg. Imagine how far your language skills can take your brand if you really commit to the cause!

With the local and global economy at its fiercest levels ever, it’s more important for businesses to be willing to adapt and change, so they stay relevant and competitive. In order to stay ahead of the curve, it’s essential to consider multilingualism in the workplace, and to be more specific, focus on the Spanish language. Once you tap into this proverbial goldmine, you’ll have access to millions of customers and unlimited growth potential.

Author Bio:

Sean Patrick Hopwood is a language polyglot and the CEO of Day Interpreting, a phone interpreter services company.