If you have arrived here, probably you are investigating about the importance of languages in the financial world. That’s great! In this content we are going to analyze precisely this topic. After reading this, you will have enough information for obtain your own conclusions about the importance or not of languages in the financial world. Keep reading!
Why people believe that languages are important?
There are different ideas about the importance of languages in the financial world. Most of them are in favor of English. This is because this language is widely spoken in the world. Many people speak English as their primary language, but much more people have learned this language as a second one.
This is the reason for many companies to launch their press releases in English, and a lot of financial information is only available in this language. If you are an investor, maybe English is an important language in your case.
On the other hand, if you are a fan of the Flag’s Theory, you will find countries like Estonia where you can do all government bureaucracy not just in Estonian, but also in English. Other countries, like Poland, only allows you to have documents in their language, Polish in this case.
If you doesn’t dominate a certain language, or you need to certify certain translations, then a translation agency comes very handy. More about this later.
Are all languages the same?
Not really. It depends mainly on the nature of your business. If you focus your activity in certain countries, then to be able to communicate in the language of your target clients, can be helpful.
On the other hand, there are certain languages that are spoken by a lot of people. To be able to communicate in several of those languages can open you different business opportunities.
On this graphic you can see the amount of people that speaks certain languages in 2022:
As you can see, around 1.5 billion people worldwide speaks English either natively or as a second language. This is a bit more than the 1.1 billion Mandarin Chinese speakers at the time of survey. Hindi and Spanish were the third and fourth most spoken languages that year.
However, this doesn’t means that a language like Hindi can open you all the doors, because Chinese and Hindi are languages spoken by a lot of people but in specific countries, like India or China. Outside those places they are marginal languages.
If you take countries like the United States, the main language can be English, but the second one is Spanish, which over 41,75 million speakers according to a survey from 2019. There were only 3.49 million Chinese speakers in the United States that year. That’s a big difference compared with the previous graphic.
That means that the importance of a languages varies in function of your financial interests and targets. If you are focusing in a country like USA, then English and Spanish can be your best choices. It’s easy to find an agency that can help to to communicate. For example, if you are in London, you can look for “translation agency london“.
Do you need to dominate all languages for success?
Not exactly. Of course it’s useful to dominate a lot of languages, but it’s more useful to focus in your business plan. Language can be a secondary priority if you hire a translation service, or employees that speaks the languages of your choice, for example.
Imagine that you would like to establish in a certain country for tax advantages. If your clients are going to be in other countries, you just need an agency that helps you to translate local paperwork. Then, you can focus on the languages of your potential clients.
What languages do you should focus on?
The idea that we are trying to defend in this article is that languages indeed are important, maybe necessary in some cases, but you can avoid the need to dominate all languages if you find a good translation agency. For example you can hire locally translation services uk.
That way, you can delegate the translation of government documents, for example, and focus on the languages that makes you the most profit. One priority can be the languages of your potential clients.
Conclusion
Languages are useful, but you can start doing business or financial activities in foreign countries without dominate all languages needed. That’s because you can hire an agency that can help you to communicate and elaborate or translate documents to the needed languages. You have more information in the links across this content.
We hope that this idea can help you to start your financial or business projects right now, even without a deep knowledge of many languages. Don’t allow that to stop you!
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