A company is only as good as the skillset of its team. You don’t need to be a business expert to understand that companies with a global outlook stand a better chance of success. By embracing internationalization, you are not just opening your products and services to a global market. You can also forge lucrative new business partnerships with like-minded collaborators, enhance the flexibility of your supply chain, unlock cheaper imports for your products, and so much more.
To be a truly international company, you need to ensure that you can communicate with potential partners and customers in the core markets. For this, you need to establish which spoken languages are the most useful to have on your team. We know that English is the language of business, but that will only get you so far. Read on to find out the essential languages that will make your business more competitive.
The Spanish-speaking world is one of the largest and most diverse markets out there. This is why demand is soaring for services that can help improve Spanish language skills among workers, such as this online platform which offers one-on-one instruction on how to speak perfect business Spanish. 559 million people speak Spanish worldwide, with major markets being Spain, Mexico, Argentina, Chile, and the United States.
China is rising and is on track to become to pre-eminent economic superpower by the end of the decade. Furthermore, China is the world’s manufacturing powerhouse, while the Chinese consumer market is becoming increasingly important to global brands. Mandarin might be a tough one to learn if you only have Latin or Germanic languages in your team, but it is worth the investment. Learning Mandarin will not only unlock vital business opportunities but also marketing opportunities to 1.4 billion people.
A wealth of business opportunities awaits you in Brazil, one of the world’s top economic powers and a central node in global supply chains for auto manufacturing, food and beverages, IT hardware, clothing, and more. Furthermore, Brazil’s population of 212 million people constitutes a significant consumer economy that any business would benefit from marketing towards. Meanwhile, Portugal is rapidly rising as an important European center for tech startups, with the capital city Lisbon now enjoying one of the hottest startup scenes on the continent.
With more than 295 million speakers in 28 countries, Arabic is the world’s fastest-growing language, one that is increasingly important to international business. With Arabic speaking skills in your company’s team, a huge number of doors will open. There are the high-flying finance and tech hubs of the UAE and Qatar. Then there are important manufacturing destinations such as Morocco, Bahrain, and Tunisia. In addition, several Arabic-speaking countries boast some of the wealthiest per-capita populations in the world, making moneyed hotspots like Kuwait, Saudi Arabia, and Dubai essential for high-end companies to market their goods to.
These are the languages that will instantly make your business more competitive in the global marketplace. Make sure to keep this in mind during your next round of recruitment efforts.