Los balcones del español en USA (2023) by Carmen García RicoFundación Antonio de Nebrija
Can a language have economic value?
Can you quantify how much a language is "worth"? Yes. In fact, it is measured by taking into account a series of variables that constitute the economic weight of a language.
These factors are: the number of speakers, the geographical coverage, the number of countries in which it is official, the socio-cultural development index of its speakers, its commercial capacity, its position in international relations, and its literary and scientific legacy.
Another fundamental parameter is its international character. This is measured by its influence on world trade, its presence as a communication tool in other linguistic areas, and the number of people
So, what economic weight does Spanish have?
How much does it contribute to the world economy?
Almost 500 million people have native proficiency in Spanish and more than 23 million people in the world study it. It is the second most used mother tongue in the world behind Chinese, the third most used language in the UN, and the second most used in the EU.
Spanish is among the top five languages in the world in number of speakers, in number of countries where it is official, and in geographical coverage.
On an international level, the English-Spanish combination is the one that provides the greatest capacity for communication at the most relevant international forums.
What does this translate into?
Spanish has a high economic weight.
Spanish speakers have a combined purchasing power of around 9% of the world's GDP. It is the third language that most contributes to world GDP, behind English and Chinese.
Currently, Spanish is an incentive for commercial exchanges between countries where it is the official language, whose bilateral exports quadruple thanks to the existence of a shared language.
In countries such as the United States, Canada, France, or Germany, speaking Spanish adds value to your resume and increases your chances of finding a job.
Los balcones del español (2023) by Carmen García RicoFundación Antonio de Nebrija
An interesting fact
Did you know that if it were an independent country, the Hispanic community in the US would be the seventh largest economic power in the world, ahead of Spain and France?
In 2019, the GDP generated by this community exceeded $2.7 billion. This capacity is only surpassed by the United States itself, China, Japan, Germany, India, and the United Kingdom, in that order.
Between 2010 and 2019, the GDP generated by the Hispanic community in the US increased 57% faster than the US average and 70% faster than that generated by the Latino population in their own countries.
Los balcones del español en USA (2023) by Carmen García RicoFundación Antonio de Nebrija
What happens in countries where Spanish is the official l
55% of the GDP generated in Spanish-speaking countries is attributable to Spain and Mexico. This demonstrates the precarious economic state of most Spanish-speaking countries.
This also means that there is ample room for growth if economic progress in these countries can match the other countries in the future.
This article contains data published in the Instituto Cervantes' Anual Report and the study conducted by the Observatorio Nebrija del Español: El español en los flujos de comercio internacional: horizonte 2030-2050.
Other sources: Alonso, J. A., Jiménez, J. C. y García Delgado, J. L. (2023). Los futuros del español. Alianza Editorial.
Content curation and script: Aina Arbona
Graphic Editor: Carmen García
Consulting and review: Lola Pons (Universidad de Sevilla)
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