15 Most Valuable Languages to Learn for International Business

Published on March 7, 2024 at 5:27 am by Talha Qureshi in Business, Economy, Industries, Lists, News

In this article, we will look at the 15 most valuable languages to learn for international business. We will also discuss the English language learning market. If you want to skip our detailed analysis, you can directly go to the 5 Most Valuable Languages to Learn for International Business.

Overview of the English Language Learning Market

English and Mandarin Chinese are the most valuable languages to learn for international business. They are also two of the most spoken languages in the world based on the total number of speakers. According to a report by Verified Market Research, the English language learning market was valued at $18.78 billion in 2023 and is expected to grow at a compound annual growth rate of 10.5% to reach $77.12 billion by 2030. The growth in the English language learning market is attributed to the rising importance of English as an international business language, increased investments in start-ups, small companies prioritizing language learning, and the high availability of affordable English language learning courses. You can also look at 18 of the Easiest Languages for English Speakers to Learn and 25 Most Spoken Second Languages in the World.

Moreover, increased government spending on the education sector worldwide and the growing trend of transnational education are also contributing to market growth. According to a report by Duolingo Inc (NASDAQ:DUOL), English remains one of the most learned languages in the world, with learners from over 122 countries around the globe. In addition, more than 49% of the learners report education and work progression as their main reason for learning English.

Trends and Market Segmentation

Within the English language learning market, the online learning and self-learning apps segment is expected to grow at the fastest CAGR until 2030. The growing number of mobile phone users around the globe, the rapid digitalization of learning material, and the growing e-learning industry are factors contributing to the growth of these segments.

The English language learning market is segmented based on learning modes, age groups, end-users, and regions of language learners. Concerning the age group segment of the market, the 18-20-year-old segment is expected to grow at the fastest CAGR. The growth in this segment is attributed to globalization, the growing need for language skills for work and education purposes, and the rapid growth of remote job opportunities after COVID-19. Furthermore, the Asia-Pacific region is also poised for growth in terms of English language learners during the projected period. Factors including infrastructural development and increased cross-border trade and communication encourage people in the region to learn English. You can also look at the 15 African Countries With English As Official Language and Top 20 Languages with the Hardest Grammar for English Speakers.

Leading Language Learning Platforms

Multinational companies prefer employees proficient in international business languages. According to a report by Language Testing International, bilingual or multilingual people earn 5% to 20% more per hour than other employers. Some of the players leading the language learning market include Duolingo Inc (NASDAQ:DUOL), Coursera Inc (NYSE:COUR), and 2U Inc (NASDAQ:TWOU).

Duolingo Inc (NASDAQ:DUOL) is a leading mobile language learning platform that operates in the United States, United Kingdom, and International markets. Duolingo Inc (NASDAQ:DUOL) offers courses in more than 40 languages that are valuable for international business. The company also offers language learning assessments to foster market-competitive language learning. On February 28, the company reported earnings for the fiscal third quarter of 2023. The company reported earnings per share of $0.26 and outperformed expectations by $0.10. The company’s revenue for the quarter amounted to $150.99 million, up 45.42% and ahead of revenue expectations by $2.60 million.

Coursera Inc (NYSE:COUR) is another online learning platform that offers specialized courses, certifications, and online degrees for consumers and enterprises. The company also offers various language specializations that equip learners with in-demand international language skills. The certifications at Coursera Inc (NYSE:COUR) are categorized based on level of specialization, including entry-level, non-entry level, university, and master track. On January 2, Coursera Inc (NYSE:COUR) reported earnings for the fiscal fourth quarter of 2023. The company reported earnings per share of $0.06 and outperformed expectations by $0.06. The revenue of Coursera Inc (NYSE:COUR) for the quarter amounted to $168.88 million, up by 18.76% and ahead of the revenue expectations by $4.11 million.

2U Inc (NASDAQ:TWOU) is a leading Software as a Service (SaaS) platform that offers education technology solutions for educational institutes. The company also provides online education services along with online undergraduate and graduate programs affiliated with top universities from around the globe. 2U Inc (NASDAQ:TWOU) is renowned for its professional language learning courses through its global language learning platform edX. On January 3, 2U Inc (NASDAQ:TWOU) announced that it has created two executive leadership roles to streamline the business operations. The company announced the appointment of Andrew Hermalyn as President of the Degree Program Segment and Aaron McCullough as President of the Alternative Credential Segment. Andrew Hermalyn has been with the company since its inception and has served in various leadership roles throughout his tenure. At the same time, McCullough joined 2U Inc (NASDAQ:TWOU) as Chief Product Officer in July 2023. Both newly created roles will directly report to the Chief Executive Officer, Paul Lalljie.

With this context, let’s look at the 15 most valuable languages to learn for international business.

A businessperson sitting at a boardroom table, discussing the future of seaborne transportation.

Our Methodology

We used the Power Language Index (PLI) by Kai L. Chan, Ethnologue, and The World Bank data to rank the 15 most valuable languages to learn for international business. Ranking languages based on their value for international business requires a multifaceted approach.

We hypothesize that a valuable language for international business has economic influence, a high number of speakers across the globe, and is spoken in multiple countries in addition to being spoken officially in major economies.

Keeping our hypothesis in mind, we started with the PLI rankings. PLI uses 20 indicators to rank languages by their influence and usefulness in international business. We used the economic power ranking of languages from the PLI dataset to shortlist 30 economically valuable languages. Next, we sourced the number of total speakers for our list of 30 using Ethnologue’s data to get the list of 15 most spoken and economically valuable languages. Finally, we sourced the data for the current Gross Domestic Product of countries these languages are officially spoken in from the World Bank, to gauge the power of the economies these languages are home to.

The list of the most valuable languages to learn for international business is in ascending order of the number of speakers, primarily, and GDP of economies, secondarily.

Please note that we have excluded Russian and Ukrainian languages as they are not part of international business due to the current geopolitical situation in the region.

15 Most Valuable Languages to Learn for International Business

15. Malay

Number of Speakers: 19,200,000

Current GDP of Malaysia (Billions): $407.03

Malay is the official language of Malaysia and the second language of Indonesia. In addition, Malay is also spoken in Brunei, Thailand, and Singapore. It belongs to the Austronesian language family. Malay ranks 17th on the economic power ranking by PLI due to Malaysia’s growing economy.

14. Dutch

Number of Speakers: 24,500,000

Current GDP of the Netherlands (Billions): $1,009.40

Next on our list is Dutch, the official language of the Netherlands, and is also spoken in Belgium, South Africa, and Namibia. It belongs to the West Germanic language family. It is spoken by over 24.5 million people around the globe and ranks 7th on the economic power ranking as per PLI data.

13. Polish

Number of Speakers: 40,600,000

Current GDP of Poland (Billions): $688.13

Ranking 13th on our list is Polish, the official language of Poland. Polish belongs to the West Slavic languages and is commonly spoken in countries including the Czech Republic, Slovakia, Germany, and Belarus. It ranks 22nd on the economic power ranking as per PLI data.

12. Italian

Number of Speakers: 67,900,000

Current GDP of Italy (Billions): $2,049.74

Italian is a romance language and is the official language of Italy, San Marino, and Switzerland. It is spoken by over 40.6 million people around the globe. In terms of economic power, Italian ranks 8th on the PLI index.

11. Korean

Number of Speakers: 81,700,000

Current GDP of The Korean Republic (Billions): $1,673.92

Korean is the official language of both North and South Korea. The Korean Republic has a current GDP of $1,673.92 billion, and the Korean language ranks 15th on the economic power index as per the PLI data.

10. Turkish

Number of Speakers: 90,000,000

Current GDP of Turkey (Billions): $907.12

Making it to the top 10 of our list of most valuable languages to learn for international business is the Turkish language. Turkish belongs to the Atlantic group of languages and is spoken by over 90 million people around the globe.

9. Japanese

Number of Speakers: 123,400,000

Current GDP of Japan (Billions): $4,256.41

Japanese is Japan’s official language and is spoken by over 123.4 million people around the globe. One of the reasons behind the influence of the Japanese language in international business is Japan’s growing economic power. The language ranks 4th on the economic power index as per PLI data.

8. German

Number of Speakers: 133,200,000

Current GDP of Germany (Billions): $4,082.47

Ranking 8th on our list is the German language. German belongs to the Indo-European language family and is the official language of both Germany and Austria. It is also recognized as one of Switzerland’s official languages.

7. Portuguese

Number of Speakers: 263,600,000

Current GDP of Portugal (Billions): $255.20

Portuguese ranks 7th on our list and is the official language of Portugal. It is a romance language commonly spoken in various European countries, including Brazil and parts of Spain.

6. Arabic

Number of Speakers: 274,000,000

Current GDP of Saudi Arabia (Billions): $1,108.57

Arabic belongs to the Semitic language family and is the official language of Saudi Arabia. It is also one of the most spoken languages in the world, with over 274 million speakers around the globe. Arabic ranks 9th on the economic power index as per the PLI database.

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