Edición Instituto Cervantes at FAS - Harvard University
Estudios del Observatorio/Observatorio Studies. 078-05/2022EN (Trans.)
Abstract: Bilingualism has undeniable benefits at the personal and cognitive level, but it also represents an important economic asset for individuals and society. This paper explores some of the key principles for better understanding and appreciating the economic opportunities created by the growth of Spanish-English bilingualism in the United States, as well as some of the challenges it may pose. We explore some of the direct benefits that individuals can expect (e.g., better job prospects), as well as the potential indirect benefits or externalities that accrue to U.S. society as a whole when barriers to trade, investment, the exchange of ideas, etc. are reduced.
Keywords: bilingualism, Spanish in the United States, economic value of Spanish, job market, international trade, wage premium, purchasing power.