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Language as A Natural Resource: How Diversity of Languages Impacts Economy

There is power in mastering a diversity of languages that extends beyond the basic communicative value that it can bring to a situation. It can also be a great way to build, expand, or grow into economic gains and benefits. Language can directly impact the bottom line and the potential profitability and outreach of businesses small and large as well as national and international economies. The information below sheds light on just how a mastery of a diversity of languages correlates with economic benefit and why it should be viewed as a natural resource in a region or geographic zone.

Customer Growth

One of the ways that diversity of languages in a society, culture, or even a specific business can be seen to have an impact on the economy is through customer growth. A business culture can convey that they are open and willing to provide for many different cultures, ethnicities, and language groups is through the master of a diversity of languages. Customers, clients, or even businesses themselves are more likely to interact with a company or national economy if they know that there is economic benefit, yes, but also that they are being welcomed and embraced. Customer growth, then, is a direct benefit of a diversity of languages in business.

Communication

A business that has mastered a diversity of languages has a great advantage in communicating with their clients and customers from around the world. In a situation where economic gain or loss is at stake, being able to communicate clearly can be the difference between taking the right direction and going off course. It also allows for an ability to make for more efficient actions and decisions, even those that can be done over a telephone. If there is a mastering of a diversity of languages, a business does not have to weigh through the problems of wasting time on struggling to communicate rather than simply communicating. In this way, then, the direct impact of knowing a diversity of languages in relation to economic benefits can be seen.

Hiring

Much like with customer growth, a group or specific individual that may suit a need or niche in a business or economy can benefit from the power that mastering diversity of languages can bring about. A potential employee may feel more comfortable applying for a job in which they will not struggle with basic communication, even throughout the interview and hiring process, but also in the day-to-day communications that will be required for a successful employment situation. A business or a greater economy of a nation needs the best individuals to run it as well as a large client base. For that reason, reaching out to employees by showing a welcome attitude and warmness through the use of a diversity of languages can mean the difference between success and failure economically. It is also for this reason why individuals and companies actually invest in education for employees so that they can gain access to the information and resources they need to begin to learn a diversity of languages and understand exactly what is necessary in order to speak multiple ones with fluidity.

 

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