Which language will be most economically valuable?

[Questions]

Hello,

I was searching the internet and thought that you might have an answer to my question, especially since after looking around at the website I noticed that you discuss a lot about economics and current affairs.

As time passes and we become part of history, different countries achieve new economic growth and power in a variety of industries.
And as a consequence of globalization, there's a rising demand for people who can speak more languages than their own native tongue.
Which will be the next most useful and profitable (from an employment point of view) language to learn?

Newspaper headlines in recent times have often emphasized the importance of China, and I've also read that some European schools have introduced Mandarin (Chinese) as a compulsory second language to children from age 12.
Many professors say that learning Chinese will bring a lot of opportunities in the future...
BUT (as some of my friends argued) many people are missing a point:
There are Chinese people everywhere in the world, and most Chinese people interacting with foreigners already speak English.
Wouldn't that decrease the demand (and value!) of foreign Chinese speakers?

My same friends suggested that it might be more profitable to learn a language of a country in which people don't learn much English/other foreign languages, e.g. Japanese.
As I said before, I'm aware that the relative economic value of the language also depends on which specific industry we're talking about.
I guess Arabic is still in demand in the petrol business, or politics, right? And Japanese for technology?
I'm just asking, as I have no real source for all this information.

As far as I am concerned, I am still in my first year at university and studying economics (thus, I'm probably aiming at jobs in management, finance, banking, but also administration, international relations etc.).
What do you think?

[jk]

Re: Which language will be most economically valuable?

unless you are seriously interested in a language, a country and a culture, don't bother. as you point out, there are millions of chinese outside of china who are bilingual, and millions more in china learning foreign languages. there are numerous japanese who are fluent in english, etc, etc.

if you are a good linguist [and you certainly know whether you are or not], you'll find any language you learn an asset. if you are really interested in, e.g., south america, by all means learn spanish and portuguese - it will be an asset.

but if you are not willing to become reasonably fluent, it won't matter. you won't be able to get around locally, and you certainly won't be able to decipher the fine points in a negotiation or contract.

[Questions]

Re: Which language will be most economically valuable?

To be very honest, I'm seriously interested in both Japanese and Mandarin culture and country.
I have good friends from both countries, I partially grew up with both countries' popular cultures. I even know some bits of both languages, yet not at a learner's level.

However, that was not my point...

Since I'm still young, I'd like to start with something that... in addition to enriching me culturally, will also help me have more employment opportunities.

Personally I consider any language an asset... Whatever language I start with, I plan to learn the other language later in my life (when I am independent, have a stable job and have more freetime )

Since this forum deals with economics I thought you could help me find out which language is more of an economic assets in the next future world market.

If for instance I spent my next 4 years introducing myself to Esperanto, who would employ me after I graduate from university?
I personally like constructed languages like Esperanto, but I prefer spending my current time on developing economically valuable skills...
(and, so that you know, just because it's economically more valuable doesn't mean that I have to force myself to learn it)

If I came to know that in 5 years Esperanto speakers will be paid high salaries, I'd seriously learn it... and that wouldn't mean that I study it only for the better salary.

[jk]

Re: Which language will be most economically valuable?

i truly believe you should just study the one that most interests you for non-financial reasons. e.g if you're interested in tagalog, you will find a very small pool of western-origin competitors for jobs with multinationals with operations in the phillipines. the real issue will be whether you retain the energy and interest to keep up in the language. unless you are working full-time to pay your way through school, you are deluding yourself to think you will ever have more free time than you do now as a university undergraduate. the idea that you think you'll have more time later makes me [literally] shake my head and laugh, unless you're talking about post-retirement. i would wager you'd have the same response from any other university graduate.

[Questions]

Re: Which language will be most economically valuable?

Maybe you're right about my too high expectations of free time in the future
But my reasoning was: the better the job/position, the more time for "upgrading", more incentives from the employers to go study for a while.

Well... if I didn't have to think about financial reasons I'd study both Mandarin and Japanese.

Mandarin, because I like many things from chinese literature and generally, I like the culture. It's numerous philosophies and alternative medicine scripts.
Japanese, because I still like their modern culture which was also part of my youth: j-pop/rock, anime, japanese entertainment and high technology. I have some friends who studied japanese when they were still at school just to play the original releases of the PlayStation games.

(that's why I need an extra reason/motivation to focus on one... it won't be easy to study two entirely new languages simultaneously)

[jk]

Re: Which language will be most economically valuable?

Maybe you're right about my too high expectations of free time in the future
But my reasoning was: the better the job/position, the more time for "upgrading", more incentives from the employers to go study for a while.

the better the position, the greater your responsibilities and the more demands on your time. if you also plan to have any kind of family or personal life, there won't be much time or energy left over.

Well... if I didn't have to think about financial reasons I'd study both Mandarin and Japanese.

Mandarin, because I like many things from chinese literature and generally, I like the culture. It's numerous philosophies and alternative medicine scripts.
Japanese, because I still like their modern culture which was also part of my youth: j-pop/rock, anime, japanese entertainment and high technology. I have some friends who studied japanese when they were still at school just to play the original releases of the PlayStation games.

(that's why I need an extra reason/motivation to focus on one... it won't be easy to study two entirely new languages simultaneously)

pick the one you'll have the most opportunity to practice in a fun way - with friends, at restaurants, music, even video games if you still play them.

[spunky]

Re: Which language will be most economically valuable?

I agree. I am fluent in 3 languages myself

English, Gold and Silver

[Questions]

Re: Which language will be most economically valuable?

Fun... well, both are actually fun in my opinion :P
See the chinese reality shows and the japanese anime.

To be brief: in terms of human and cultural relationship, I'm equal towards both; I need a practical reason...

Another factor is: if I will have so little time in future as you say, when will I have the time to play 200 hour long videogames in the language I'm starting to study? Versus a language that I'll be able to practise everyday at my working place?

Plus, I want to chose a job that I will enjoy, in which I can communicate with lots of people... and not just sit around with a false smile on my face in order to get a higher pay. I do want the higher pay, but with an honest smile

To be honest you made me seriously worry about my future time management. I guess I'm gonna somehow learn both languages as long as I have the energy to do so.

thanks anyway :p

[jk]

Re: Which language will be most economically valuable?

Fun... well, both are actually fun in my opinion :P
See the chinese reality shows and the japanese anime.

To be brief: in terms of human and cultural relationship, I'm equal towards both; I need a practical reason...

Another factor is: if I will have so little time in future as you say, when will I have the time to play 200 hour long videogames in the language I'm starting to study? Versus a language that I'll be able to practise everyday at my working place?

Plus, I want to chose a job that I will enjoy, in which I can communicate with lots of people... and not just sit around with a false smile on my face in order to get a higher pay. I do want the higher pay, but with an honest smile

To be honest you made me seriously worry about my future time management. I guess I'm gonna somehow learn both languages as long as I have the energy to do so.

thanks anyway :p

there's no need to worry about how you're going to maintain a language 10 years from now. the issue is how you're going to learn it in the next few years. so the relevant question is- which are you more likely to practice, enjoy and really learn in the next few years.