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Today's Multicultural Economy

The Multicultural Economy Is Here

Hispanic, Asian, and EMEA (Europe, Middle East, Africa) populations are outpacing the historical influx of immigrants experienced by the United States and Canada in the first half of the 20th century.

The Hispanic population alone represents more than 41 million people today. By 2009, nearly one person out of every six in the U.S. will be of Hispanic origin. On the heels of Hispanic population forecasts, the Asian population is projected to exceed 14 million as the end of the decade approaches, nearly doubling its 1990 base. (Source: Selig Center for Economic Growth)

And it’s not just Asian and Hispanic population growth that we’re witnessing. Many other ethnic populations are growing at a rapid pace including Russian, Armenian, and Middle Eastern populations.

Purchasing Power of Multicultural Markets

Along with the explosive demographic trends has come a surge in purchasing power across ethnic segments. The multicultural economy is here. Corporations that recognize the financial implications of this explosive growth and launch into these markets have the greatest opportunity to capture highly profitable marketshare.

As companies develop their business strategies for the multicultural economy, it is essential that they recognize the distinctive attributes of this new economy. Multicultural market segments continue to speak in their native languages and actively practice their cultural traditions. They respond with great brand affinity to those companies that communicate in-language.

Promoting Brand Loyalty with TeleInterpreters’ Language Services

TeleInterpreters, the experts in language solutions, realizes that the application of language services at strategic and tactical levels will deliver the results necessary to be a leader in today’s multicultural economy.

Tailoring messaging to these multilingual markets is a key component of an effective customer acquisition strategy. Tailoring service options to these multilingual markets is a key tactical component to developing the potential lifetime value of these customer segments. To propel organizations forward into the multicultural economy requires the integration of TeleInterpreters’ Over The Phone Interpretation Services, Translation and Localization Solutions, and Onsite Interpretation support.
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