10 Best Languages to Learn for the Future

Published on April 27, 2024 at 9:37 am by Faiq Zafar in Business, Industries, Lists, News

In this article, we shall discuss the 10 best languages to learn for the future. To skip our detailed analysis of the global language learning industry, and the larger edtech industry in general, go directly and see 5 Best Languages to Learn for the Future.

Online Language Learning: Market Outlook and Key Stocks

As of 2024, the global online language learning market is valued at more than $11.8 billion and is projected to rise to $39.5 billion by 2030, at a staggering CAGR of 18.84% during the forecast period. According to McKinsey, valuations for education-to-employment edtech companies, many of whom focus on some of the best languages to learn for the future, like Duolingo (NASDAQ:DUOL), Skillsoft Corp (NYSE:SKIL), and Coursera Inc (NYSE:COUR), tend to attract exorbitant amounts of investment. Furthermore, the edtech industry now houses dozens of new edtech “unicorn” startups with valuations exceeding $1 billion. As these companies continue to navigate the complex space of education technology, they need to take into account that currently, capital inflows are skyrocketing and are higher than ever owing to strengthening processes of globalization which in turn, has fueled the demand for cultural diversity and enhanced communication. Furthermore, technological advancements in eLearning products has led to the curation of customized learning pathways which tends to enhance time management and user engagement. The comfort, flexibility and efficiency of online language learning solutions has fueled global adoption of the technology especially amongst the younger demographic, who by all accounts, are most likely to gravitate towards the best languages to learn for the future.

One of the major players in the online language learning industry is Duolingo Inc. (NASDAQ:DUOL), which is an American provider of language learning platforms, specializing in some of the best languages to learn for the future. Based in Pittsburgh, the company’s total revenues grew by 45.4% in Q4 2023 driven by a surge in subscriptions by 50% and paid subscribers growing 57% year-over-year. In Q4 2023, Duolingo Inc. (NASDAQ:DUOL) beat estimates of $0.17 by $0.09, raking in earnings of $0.26 per share. Its growth momentum remains strong with a sustained 40+% growth rate in 2024. In the last one year, the stock is up 55.44% as of April 23.

Another major player in the online language learning space is Coursera Inc. (NYSE:COUR), which is a US-based online course provider which offers online courses, certifications, and degrees in a variety of subjects, including the best languages to learn for the future. In Q4 2023, the stock met expectations by generating earnings of $0.06 per share. In the last one year, Coursera Inc. (NYSE:COUR) is up 17.53% as of April 23, owing to massive investments in generative AI and consistent revenue growth. Lastly, Skillsoft Corp (NYSE:SKIL) is an American edtech company which develops learning management system software and content, usually geared towards languages, vocational skills, and more. In Q1 2023, the stock beat estimates of -$3.27 by $0.18, generating an EPS of -$3.09.

Online Language Learning and Edtech: Key Trends

Owing to rapid technological evolutions and enterprise digitization, many corporations are seeking to upskill their workforce amidst a climate where broadband access has become widely accessible and distance-education technologies have become more enhanced. These developments have brought about a boom in the global online language learning sector, and the larger edtech space in general, with venture capitalists diverting more than $20.8 billion in the industry globally in 2021, more than 40 times the amount pumped into the sector in 2010. Although public investment has since cooled down, private players in the industry like Rosetta Stone Inc, which focuses on the best languages to learn for the future, are still attracting capital at double-digit revenue multiples. Investment continues to flock to online language learning companies, especially considering the fact that virtually all stakeholders, including but not limited to professors, administrators, students, and employees, have grown accustomed with using education technology as part of their routine.

For global edtech companies, it is critical that the lifetime value of their consumer base exceeds the cost of acquiring them. Financial statements of major edtech stocks like Duolingo (NASDAQ:DUOL), Skillsoft Corp (NYSE:SKIL), and Coursera Inc (NYSE:COUR) demonstrate that the capital investment that goes into functions like sales and marketing tend to make up 20 to 60% of the companies’ revenue. In order to offset high customer acquisition costs and drive up profitability, many smaller players in the edtech space are looking to merge in a bid to achieve economies of scale. Furthermore, owing to an extensively tight labor market in the US, major companies are struggling to attract and retain top-level talent. Large employers like Amazon.com Inc. (NASDAQ:AMZN), Walmart Inc. (NYSE:WMT), and Target Corp. (NASDAQ:TGTX) have invested in workforce education and development programs to decrease turnover and fill talent gaps, driving up demand for edtech solutions. To meet surging demand for upskilling, reskilling, and learning the best languages to learn for the future, edtech companies are expanding their enterprise offering. Companies like Rosetta Stone Inc. (NYSE:RST) and Coursera Inc (NYSE:COUR), which initially focused solely on consumers, have ramped up revenue generation from enterprise clients in recent years.

Lastly, there has been a major shift in global edtech venture capital funding since 2010. In 2010, nearly three quarters of all VC funding in online language learning was directed towards the United States. In 2024, investors have turned their focus to India. With regulatory headwinds choking the Chinese edtech industry, major edtech players, including platforms which specialize in the best languages to learn for the future like Duolingo (NASDAQ:DUOL), Skillsoft Corp (NYSE:SKIL), and Coursera Inc (NYSE:COUR) have turned their attention to the enormous Indian market. The Chinese market accounted for more than 63% of all edtech funding in 2021; today, the figure has dropped down to less than 11%. In India, online language edtech funding has skyrocketed from $0.2 billion in 2019 to $4.8 billion in 2024, comprising 18% of global investments. Furthermore, since English is widely spoken in India, language learning platforms have been able to find enormous success in delivering lessons without having to divert investments into translating their content. Hence, to thrive in an increasingly competitive space, global edtech players are tailoring growth strategies for each target country whilst securing their home markets. To read more on trends affecting the edtech industry in 2024, check out our article on the 20 Biggest EdTech Companies in the World.

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Our Methodology

To compile a list of the 10 best languages to learn for the future, we considered a report by the Economist which highlighted ROI of learning a foreign language. MIT economist Albert Saiz that the premiums of a language depends upon its economic significance, which in turn can be determined by the economic openness and demand for certain languages, and the number of people speaking the language. For this reason, we primarily considered economic opportunities in our methodology. Secondly, we also considered a 2010 study by economists Anne Burns and Celia Roberts which conceptualizes the globalization process as a space-time compression and highlights foreign language education as integral to immigration and asylum processes.

Hence, we created our methodology by integrating the findings of the aforementioned studies and developed three primary metrics. We assigned an equal weightage to each metric: future economic impact of countries, which in turn will generate employment prospects (10 points), population dynamics of language speakers for seamless communication in the future (10 points), and the cultural significance of the language to facilitate cultural exchange and immigration as the world globalizes and liberalizes (10 points). To determine the future economic impact of countries, we decided to use our article on the 25 Largest Economies in the World in 2024. To determine the population dynamics of specific language speakers, we decided to look at Insider Monkey’s index of the 50 Most Populated Countries in 2100. Finally, to determine how easy each language is to learn, we decided to consider our article 18 of the Easiest Languages for English Speakers to Learn.

We created primary list for each metric by listing the top 20 languages in each of the three aforementioned areas. As expected, there was significant overlap amongst all three primary lists. Then, we assigned points to each language based on its relative position in each primary list. For instance, if a country ranked number 1 on a list, it’s most dominant language received 10 points. If it ranked second, the language received 9.5 points, and so on. We then tabulated the total number of points scored by each language out of 30 to arrive at a cumulative score for each entry. We then ranked each entry based on these cumulative scores, from lowest to highest.

To get more perspective on the topic, you can check out our coverage of the 30 Most Spoken Languages in the World in 2050.

Best Languages to Learn for the Future

10. Japanese

Insider Monkey’s Score: 18.5

Even though Japanese does not have many native speakers, it is one of the best languages to learn for the future, primarily because of Japan’s prevalence and influence over IT and technology. Japan is also one of the top tourist destinations in the world. The language is deemed extremely useful for business, travel, education, and career prospects.

9. Korean

Insider Monkey’s Score: 19

Due to the widespread viewership of Korean shows and K-pop worldwide, the Korean language has become immensely popular among people. The language has also started to become important in the business world as many international companies begin to expand their businesses in South Korea.

8. Arabic

Insider Monkey’s Score: 19.5

As tourism and the economy in Arabic-speaking countries including the United Arab Emirates and Egypt grows, Arabic becomes one of the most essential languages to learn for the future. In recent years, the language has started to hold immense importance in international business and career, especially with the onset of Saudi Arabia’s Vision 2030.

7. French

Insider Monkey’s Score: 21

With around 250 million speakers worldwide, French is known to be one of the most sophisticated and popular languages in the world. The population of French speakers continues to grow, which makes the language more prevalent. French is also known to be the official language in around 29 countries.

6. Portuguese

Insider Monkey’s Score: 21.5

Portuguese is mainly spoken in Brazil, Portugal, and many African nations. The language also continues to be the official language in approximately 10 countries. Since Brazil is progressing as one of the top economies in the world, it becomes essential to learn Portuguese, primarily for travel and business.

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