As the competition in the global marketplace heats up, companies without a strategy for connecting with customers worldwide face a strong possibility of getting left behind. Savvy companies and organizations stand to capture upwards of a combined 650 million potential customers by incorporating Spanish and Portuguese translation into their business strategy. As the influence and economic power of emerging Spanish and Portuguese-speaking markets continues to grow, companies that invest in high-quality translations to target this audience will see dividends.
Spanish is the most widely spoken of the Romance languages, both in terms of the number of speakers and the number of countries in which it is the dominant language. With approximately 400 million native speakers worldwide, Spanish is currently the second most widely spoken language overall. At present, Portuguese ranks sixth among the world’s major languages, with some 250 million native speakers around the world. Portuguese and Spanish are both recognized by UNESCO as the fastest growing of the European languages.
Why Spanish Translation?
The expanding presence of the Spanish language coupled with increased Latino buying power has cemented the Hispanic demographic’s influence in the United States. U.S. Latinos‘ buying power is expected to reach $1 trillion this year. Given the Hispanic market’s incredible growth, size, and increasing purchasing power, businesses and organizations cannot afford to overlook this segment of the population.
As the emerging markets of Latin America, particularly Chile, Mexico, Colombia and Peru, gain a stronger foothold, they become increasingly attractive sources of new clientele for those businesses looking to target new audiences. A well-crafted, Spanish translation done by a professional translator will help corporations and organizations communicate with the Hispanic community, both at home and abroad, to take advantage of the business opportunities provided by these rapidly expanding markets.
Why Portuguese Translation?
Over the last twenty years, Brazil has steadily grown to become Latin America’s largest economy. With a robust economic outlook and a population of about 190 million people, companies can no longer ignore Brazil. Given the country’s strong, stable currency and a growing middle class with a hunger for imported goods, reaching the Brazilian market appears to be more crucial than ever before for businesses. Although Brazil is the sole Portuguese-speaking country in the Americas, approximately one-half of South America’s inhabitants speak the language. In today’s global economy, it pays to be able to communicate effectively with the Portuguese-speaking population.
Brazil also expects a significant tourism boost over the next few years as the country plays host to two major international sporting events: the 2014 FIFA World Cup and the 2016 Summer Olympic Games. Translation from Portuguese to a host of other languages will be necessary to accommodate the scores of foreign athletes, tourists and journalists who will descend upon Brazil for these events.
Translate for the Spanish and Portuguese markets to extend your business’ or organization’s reach, and connect with everyone from the customers right in your backyard to those in the far-flung corners of Latin America.