Globalization and an increasingly diverse U.S. population are driving growth at language schools.
"Overall, we've learned that our nation's population has become more racially and ethnically diverse over the past 10 years," Nicholas A. Jones, chief of the U.S. Census Bureau's racial statistics branch, told interviewers when analyzing the new Census numbers.
The increasingly diverse U.S. population, coupled with globalization of industries, means the number of people seeking instruction on foreign language, English as a second language, and sign language, is constantly ballooning in recent years. Language instruction is a $1 billion industry, with a 13 percent year-over-year growth rate, according to AnythingResearch.com, which ranks the industry as the fifth fastest-growing area to start a business in 2011.
By the Numbers:
Year-over-year growth rate for language schools as an industry, according to AnythingResearch.com
Year-over-year growth rate for translation and interpretation services, according to AnythingResearch
Average company size for a translation and interpretation services company, according to AnythingResearch