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From an economic perspective Spanish speakers constitute a huge and rapidly growing worldwide market, and are predicted to be one of the most important markets in the future. If you live in the U.S., this is especially true.
Spanish as a business asset becomes especially important - in fact almost a requirement - in U.S. cities like San Antonio, Texas, where Hispanics constitute around 60% of the population and exercise strong political and cultural influence over the city life.
But increasingly, Spanish is becoming an important tool in other parts of the world as well, due to the globalization of economic markets.
The fact that you've taken the time to study and learn a foreign language will look good on your academic transcript if you're planning on studying in medical school, law school or graduate school. Good grades are fine, but people who work in decision-making committees often look for small things that show a candidate's uniqueness.
Especially if you've taken on the challenge of studying Spanish in Spain or another Spanish-speaking country, you're sending out a message to others that you're an independent thinker, resourceful and ambitious.
Knowledge of Spanish will definitely make you more attractive to employers as well, and more valuable within the company once you do get a job. Companies also usually pay a premium for bilingual employees, so there's a good chance you'll be paid more from the outset.
Perhaps more interestingly, your knowledge of two widely spoken languages will act as a bridge between non-communicated economic markets, opening up a wide range of self-employment opportunities that often prove to be sustainable and even lucrative.
If you'll be a student for some time or need some extra cash, your knowledge of Spanish can also come in handy to give Spanish lessons. Since it's becoming more and more of a valuable commodity, there's no shortage of people who would like to learn Spanish, and giving individual classes can be an easy and stress-free way of making some extra cash.
From a cultural perspective, your understanding of the Spanish language allows you to travel and get around with more ease, opening you to a wealth of culture, literature and other arts that you previously didn't have access to.
Some of the world's best literature has been and continues to be written in Spanish. Great works are always translated, but any author will tell you that a lot is lost in translation and there's nothing like reading a novel in its original language.
If you're a movie fan, you know that films made in Spain and in Central and South America are rapidly gaining prestige throughout the world - you'll also appreciate being able to watch them in their original version.
Speaking Spanish will allow you to live and work in a wide range of countries, to have new experiences and learn new lessons in life. This will also help you when looking for a job back home, since companies like to see people that have the confidence to face a new situation and learn something valuable from it.