Business Viewpoint: 3 Reasons Why Spanish Is the Global Language of the Future

Business Viewpoint: 3 Reasons Why Spanish Is the Global Language of the Future

The ability for businesses to understand and communicate with Spanish-speaking customers is essential. As of 2019, there were an estimated 477 billion native Spanish speakers worldwide, compared to just 360 billion native English speakers. Businesses who provide quality customer service in Spanish stand poised to stay ahead of the competition. Here’s why.

Spanish Speaking in the United States is Increasing
The United States is the world’s largest economy, with an average consumer expenditure (CE) of $60,060 per year. Also increasing within U.S. borders is the number of Spanish speaking inhabitants – one recent study predicted that the Hispanic population in the United States is set to double by 2050. Providing high-quality customer service in the form of a nearshore call center, for example, can help businesses keep pace with the increasing demand for Spanish-speaking customer service representatives.

Though many people, both in the United States and around the world, associate the country with English speaking, the reality is that Spanish is an integral part of both the social framework and the economy. By 2020, researchers estimate that Latinx people will be responsible for nearly 25% of U.S. G.D.P. growth, as well as 13% of the country’s total GDP. As younger Latinx people enter the workforce and baby boomers retire, Spanish speaking will command more of the internal economy.

Spanish Drives Bilateral Trade
When Spanish is used as a common language of commerce, bilateral trade increases by almost 300%, according to a study by the Telefonica Foundation, what does this mean, exactly?

For one, if you are a business looking to expand into the fast-growing economies of Latin America, it would benefit you to have employees and customer service representatives who speak Spanish. At the same time, offering customer service in Spanish is essential if you are looking to expand your customer base at home. An estimated 41 million Americans speak Spanish as a primary language, so if you have trained customer service representatives who can communicate in Spanish, your business stands to reach more customers. In fact, a study from Langua Travel notes that business opportunities and employment opportunities are the main reasons that non-native speakers in the U.S. choose to study Spanish.

The Importance of Bilingual Call Centers

English, Chinese, and Spanish are the three most spoken languages of global commerce. In the United States, English and Spanish make up the lion’s share of all business transactions. With an increasing number of Spanish speakers within U.S. borders, it is imperative to keep pace and offer quality bilingual customer service. Working with a contact center in Mexico can help your business thrive. For example, when United States Auto Parts paired with NextDoor Solutions, they could increase their sales conversions by offering high-quality customer service to a wider variety of clientele.

If you are looking for ways to appeal to more customers and increase your sales, working with a call center company offering service in English and Spanish is a business must. NextDoor Solutions can help you find an arrangement that aligns with your business goals. Call us today at (619) 400 4177 or fill out our contact form for more information.