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    Multilingualism and Its Effect On Economy

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    Vedant Sharma
    Multilingualism provides significant economic benefits. Studies show that companies that invest in multilingual staff gain more export countries and market share, while individuals who speak multiple languages can earn higher salaries. Countries are also recognizing the importance of multilingualism and the need to encourage it through education reforms that support linguistic diversity in classrooms and promote lifelong language learning. Nurturing multilingualism in societies can boost economic opportunities and competitiveness in the global marketplace.

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    Multilingualism and Its Effect On Economy

    Uploaded by

    Vedant Sharma
    141 views2 pages
    Multilingualism provides significant economic benefits. Studies show that companies that invest in multilingual staff gain more export countries and market share, while individuals who speak multiple languages can earn higher salaries. Countries are also recognizing the importance of multilingualism and the need to encourage it through education reforms that support linguistic diversity in classrooms and promote lifelong language learning. Nurturing multilingualism in societies can boost economic opportunities and competitiveness in the global marketplace.

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    Multilingualism and its effect on economy

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    Multilingualism provides significant economic benefits. Studies show that companies that invest in multilingual staff gain more export countries and market share, while individuals who speak multiple languages can earn higher salaries. Countries are also recognizing the importance of multilingualism and the need to encourage it through education reforms that support linguistic diversity in classrooms and promote lifelong language learning. Nurturing multilingualism in societies can boost economic opportunities and competitiveness in the global marketplace.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    141 views2 pages

    Multilingualism and Its Effect On Economy

    Uploaded by

    Vedant Sharma
    Multilingualism provides significant economic benefits. Studies show that companies that invest in multilingual staff gain more export countries and market share, while individuals who speak multiple languages can earn higher salaries. Countries are also recognizing the importance of multilingualism and the need to encourage it through education reforms that support linguistic diversity in classrooms and promote lifelong language learning. Nurturing multilingualism in societies can boost economic opportunities and competitiveness in the global marketplace.

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    © All Rights Reserved
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    of 2

    1. “Language is power”.

    As it has been claimed by several researchers,


    multilingualism is an impeccable tool for development. It opens windows for us
    to explicitly benefit from the socio-economic opportunities it provides. It has
    been identified that countries who nurture multilingualism are rewarded with
    great benefits A study on the economic the benefits of multilingualism has
    identified that language skills are introduced as a kind of skill that leads to
    economic wealth, an asset that increases the competitiveness. For instance,
    companies nurturing multilingualism are found to have a bigger quantity of
    export countries and a greater export turnover share, i.e. Greater investment in
    multilingual staff by German and French SMEs (small and medium-sized
    companies) have to lead them to flourish with several economic benefits by
    bringing them 10.7 and 7.8 export nations respectively whereas lower investment
    in multilingual staff just gives the Swedish SMEs around 3.9 export nations.
    Other than these several companies who invested in multilingual staff have
    benefited from larger market share in BRIC countries, a larger the proportion of
    foreign establishment. A study has attributed multilingualism as the potency of
    promoting the mobility of the labour force in a single market, thereby fostering
    employment peaks and following economic growth in society.

    2. Various Studies by Research fellows have discovered that languages can boost
    a person’s earning power. Being multilingual can be regarded as a sort of human
    capital because it opens the window to the endless opportunity of earning a
    higher income and obtaining aspiring employment status in any powerful society.
    A language specialist recruitment agency Euro London has found out that
    learning another language adds 10 to 15 per cent to one’s average income.
    Another Canadian study, bilingual men earn 3.6% and bilingual women earn
    6.6% more than their English-only peers. Furthermore, the transition of this
    world into a global village has drastically increased the demand for multilingual
    jobs and employees. Therefore one can now open doors in new lucrative career
    opportunities, like interpreters and translators which are among the top five
    fastest-growing occupations, according to the Bureau of Labor Statistics.
    3.

    In the growing global village creating a multilingual open-minded inclusive


    society in the light of diversity is a necessity. That is why several monolingual
    countries are transitioning and encouraging multilingualism. I believe that
    emphasizing revolutionizing the education system is fundamental for the change.
    The linguistic diversity of the modern classroom can be shaped by:

    • The existence of historical non-dominant language groups,

    • the evolving quality between countries leading to a multitude of latest


    languages and skills in classrooms,

    • dynamical academic and labour market demands favouring polyglot and


    multi-skilled citizens.

    Countries can even boost their linguistic capital by following the “healthy
    linguistic diet”, introduced by Bak and Mehmedbegvoic. This model is based on
    the positive approach towards languages across the lifespan. they have laid on
    emphasis on the fact that “As well as using every opportunity to say: ‘It’s good for
    you to eat fruit and vegetables every day’, schools should also say: ‘It’s good for
    you to speak, read and write in different languages’,”. Countries with huge,
    untapped lingual source in the form of migrant families are expected to be
    benefited by this.

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