Is it Critical to Learn to Speak Spanish in Business

Spanish is a language that plays a major role in business. Its importance should not be overseen. With its numerous speakers in many countries, Spanish greatly influences international business. Corporations are now looking for practical ways to learn to speak Spanish. Having good communications channels is of the utmost importance in business. It is essential to be a good communicator in international dealings. Being the second most widely spoken language in the US, large corporations have started to realize that the Spanish speaking market can be quite profitable. Estimates show that by 2050, the US will be the largest Spanish speaking country. With these growth rates in the Us, and around the world, businesses need their key players to learn the language. Many are choosing to work with a private Microsoft Teams tutor. If you want to know how you and your team can learn Spanish to increase your profitability, keep on reading.

The globalization of Spanish

English, as a global language, has become a requirement for business opportunities all over the world. It is a sort of common language for communicating amongst countries. For this reason, places such as the UK and the United States sometimes do not take the learning of languages seriously. In Europe, most countries boast having a population that is between 80 and 90 percent multilingual. The UK, in contrast, can only say that 32 percent of its population speaks a language other than English. In today\'s international business dealings, speaking only English is no longer enough. Foreign languages are becoming a must, especially in telecommunications, trade, banking, and international business. Global companies are looking for people with global skills, and people who learn to speak Spanish rank high in the list of global skills. But why is the Spanish language such an important commodity nowadays? Spanish has become more globalized in recent years. It is actually the most commonly used language in the western hemisphere since it is so widely used throughout North, Central, and South America. The vast majority of Latin American countries speak either Spanish or Portuguese. This means that English is not commonplace. Countries that wish to trade with these important markets see the need to learn to speak Spanish as a priority.

2. Organize your timeframe

But the American continent is not the only location where Spanish holds this level of importance. Spain is also one of the most important markets in the UK. In fact, the British council ranked the Spanish language in first place among the most influential languages for both economic and non-market factors for the United Kingdom. Highly respected language entities recognize the need to learn to speak Spanish. So, let\'s look at some facts and figures about the role of Spanish in the business world.

The role of Spanish at home

Numbers speak for themselves. In the United States, more than half a million people are Spanish speakers. Spanish is the second most commonly used language in the country, and the number of speakers is on the rise. Projections show that in a few years, Spanish will account for almost half of the population\'s language. This, of course, does not only refer to people who use it as their first language, but also for those who use it as a second language to English. Such is the case of the newer generations. Hispanics tend to prioritize their language and pass it on to their children. Between first and second language users, almost half of the American population will be able to communicate in Spanish in just about 30 years. Corporations know that most of these Americans are bilingual. These speakers can respond to the advertisement in both English and Spanish. Yet, choosing Spanish for these ads can trigger a different kind of emotion from consumers. Spanish commercials are now commonplace all over our media. It is as if Spanish appeals to a different trait of their personality. From a business point of view, the influence of Spanish is something that corporations cannot financially ignore. People who speak Spanish tend to be among the youngest in the United States. Almost a quarter of the millennial population identifies as Hispanic. Businesses that are aiming for a younger demographic would be making a huge faux pas if they bypassed their attention towards these markets. Many companies are now looking for opportunities where their employees can learn to speak Spanish in a fast and efficient way. This is where a private Microsoft Teams tutor comes in. Companies are opting for conversational programs where their contributors learn Spanish through lessons that are catered to their specific needs.

Learn to speak Spanish. It makes sense?

Spanish speakers in the United States have greater purchasing power than many companies are aware of. According to a Multicultural Economy Report, Spanish speakers purchase more clothing, wireless services, used cars and groceries compared to other language speaking demographics. This study mentions that Hispanic adults spend, on average, 6 dollars more than the rest of the population of the United State. And because Spanish speakers tend to be younger, they are the group that has the most probabilities of having children. This translates to them having to purchase more merchandise for their families. Corporations now know that the Spanish speaking market has spent trillions of dollars on goods and services in the past few years. This is a huge slice of an economic pie that cannot be ignored. Even when it comes to more expensive purchases, richer Spanish speakers seem to spend more than their counterparts. This, in fact, relates the purchasing rate of Spanish speakers to the role they play in jobs and the economy. Around 17 percent of workers in the United States are Hispanic. This means that Spanish is most certainly in use throughout American corporations. It seems that Spanish speakers are the only minority in the United States that is less poor now than they were back in 2007. It makes sense that high executives want to learn to speak Spanish, their companies simply can not afford not to.

Spanish is wise for your economy

It seems, though, that Spanish speakers not only make up an important part of the workforce. They are also responsible for spearheading their own businesses. Hispanic business owners have played an important role in the creation of jobs. Almost half of new employment opportunities in the past five years are directly related to Latino business owners in the US. Some researchers suggest that this could be directly related to their young age. Their multilingual profile could be behind their great success. With all this data, we can safely conclude that to learn Spanish is one of the wisest and most profitable investments businesses can make. But Spanish speaking markets obviously do not limit themselves to the borders within the United States. The US has very important trade deals with various Spanish speaking countries. The vast majority of Mexico\'s exported goods go to the United States. Common items such as glass-bottled beers, cars, and electrical items are some of the many goods we import from Mexico. And many of these exports happen through American companies that have established their production plants in this country. The cost of producing items is lower, and the geographical proximity makes it highly attractive for corporations to work directly with our Spanish speaking neighbors. Mexico is the fifteenth largest economy in the world by its gross domestic product. Businesses in the US are starting to notice the importance of having their executives learn to speak Spanish. Large multinational companies are investing billions of dollars in Mexico. The priority to learn Spanish is quite high for these types of corporations.

But wait, there is more!

Our neighbors in Mexico are not the only ones receiving large sums of investment from large corporations. Other Spanish speaking countries like Colombia, Argentina, Peru, and Chile are also becoming increasingly desirable business partners for the United States. Investors are now finding that some Latin American countries offer security for their money. Columbia is one of the leading countries in terms of clean energy. It is also making great technological strides, having many major American tech companies establishing offices there. Tech giants like Microsoft, Google and Facebook have established plants in its capital. Currently, it appears that the US and China are in competition to be the country that can make more money by investing in Spanish speaking countries. Not wanting to fall behind, American companies are starting to understand the importance of having their top executives learn to speak Spanish. In order to establish good relations with our trade partners, we need cultural understanding. And cultural understanding comes first, and foremost, from learning a country\'s language. Both American and Chinese companies establishing themselves in Latin America will probably be able to find many knowledgeable professionals that can speak English. However, to create a real connection with their collaborators, businesses have to embrace the local language. But Spanish is not exactly the same in all Hispanic countries. There are nuances and regional traits that make Spanish from each country special. This is why companies who are looking to learn the language usually search for Spanish courses that can be tailor-made to their needs. Fixed schedules and one-size-fits-all lessons probably would not work for busy business people. Courses that work with a Microsoft Teams tutor, like those at Spanish55, are designed to adapt to the fast-paced environment of the business world.

Spanish and the web

Google reports that the Spanish speaking community has been considerably growing in the past 4 years. It is the third most used language on the Internet, having around 160 million users. More and more Spanish words are used in search engines every day. Spanish-speakers using the web have grown around 650 percent between 2000 and 2012. Tech companies are aware of the potential of this massive market. When a company wishes to dip their toes in the Spanish-speaking market, it is important for them to understand the language. Expanding a company into a foreign market entails having an understanding of the culture. Products, websites and other communications need to be adapted in order to appeal to the target consumer. It is also important to adapt all social media to Spanish for effective online communication. It seems that many Spanish-speaking consumers are not willing to buy products or services if they are not adapted to their cultural environment. And, since many of them do not speak English, the company\'s attempt to reach their consumers could be downright impossible. As varied as global tech companies are, they are well aware that introducing their goods to Spanish speaking markets requires learning the language. These companies are also great examples of businesses that can thrive when their employees become fluent in the language.

So, is Spanish really that critical for business?

Businesses are expanding at a rapid pace, always looking for new ways to attract target consumers. Globalization comes with the need for multilingualism to ensure accurate business dealings. Being able to interact with business partners and customers from different global economies is imperative. If you cannot effectively communicate with your consumer base, it does not matter if your product is good or bad. Communicating with them in their own language breaks cultural barriers. It helps build trust and shows respect. Not only does speaking Spanish make communication easier, but it also allows your business to better understand the cultural nuances of your clients. Cultural awareness is incredibly important, and failure to learn how to adapt to a Spanish speaking customer base could be quite costly. Companies that learn to speak Spanish open up many business opportunities. Businesses that invest in their collaborators to learn Spanish will certainly have an upper hand in the ever-growing Hispanic economy. And taking advantage of technology, such as working with a private Microsoft Teams tutor, makes the process of learning all the more convenient. If your business is ready to invest in the Spanish speaking market, take the next step and book a Free Consultation.