The ability of U.S. companies to compete in the global marketplace relies on their having access to a workforce equipped with international skills and expertise.

The Centers for International Business, Education and Research (CIBERs)1 at business schools across the country have supported two previous surveys on U.S. business needs for international expertise and the role played by universities in training a globally competent workforce (Kedia and Daniel, 2003 and Daniel, Xie and Kedia, 2014). In 2024 the CIBERs conducted a third survey, repeating the 2003 and 2014 questions and adding questions on whether new technologies have altered the skills required.

The 2024 survey had 1217 responses from businesses of varying sizes and in varying industries. All of these firms do international business to some degree. In virtually every dimension, international business has increased in importance for firms since the previous surveys and there has been a corresponding increase in the perceived need for employees with global competence and skills.

The primary findings from the 2024 survey are as follows:

• International sales are a significant and growing portion of company sales in our sample, and the firms’ need for workers with international expertise is also significant. (Figures 1 and 2)
• At the time the survey was conducted, the international activities of companies were growing more rapidly than their domestic activity. Moreover, as in the previous surveys, they had an expectation of robust future growth in international activities compared to domestic ones. These findings become more pronounced as firm size increases. (Figures 3 and 4)
• No region of the world is considered unimportant – the sum of the percentages of the Some and Great importance columns exceeds 60% in all cases. Europe and Asia are currently the most important regions. For each of the regions, future importance exceeds current importance.
• Respondents identified twenty-seven languages of importance to their businesses. The most frequently mentioned were Spanish (48%) and Chinese (27%).

Over time, there has been an increase in the percentage of respondents who felt that their firm had failed to exploit international business activities due to having insufficient internationally- competent personnel (Figure 5). In 2024, they cited missed marketing/business opportunities (53%) and failure to anticipate the needs of international customers (49%). These were also the two top reasons cited in 2014, although the levels in the current survey are around twice as high.

• There has been a continuing increase over time in the percentage of firms who say that the threat of international conflict or terrorism has caused them to reconsider the importance of international awareness and competence in their staff.
• AI is reducing the value of some international competencies, such as multilingual skills. But the overall picture is more nuanced. Despite all of AI’s capabilities, human-centric skills continue to have great value. Clearly international business professionals are called upon to integrate global acumen with technological sophistication.
• A total of 96% of respondents felt that their overall business would increase either “some” or “a great deal” if they had more international expertise on their staff (Figure 6). This result becomes more dramatic as firm size increases.
• 84% of respondents said that over the next ten years, their company will place greater emphasis on international competence among their management and employees (Figure 7). This response was more likely the larger the firm.
• The three most important skills for employees were: understanding of local markets and business practices, understanding of country legal and government requirements, and ability to work with cross-cultural differences. While international work experience and foreign language skills were of lesser value, the importance of foreign language skills grew from the earlier two surveys.
• Approximately a third of firms reported that it is difficult to find U.S. nationals with the needed international knowledge and/or skills. There was little difference between the responses of small and large firms.
• About two-thirds of firms have used training programs to improve international competence, a higher percentage than in the earlier surveys. In-house programs and consulting firms dominate, but universities also play an important role in providing training. Larger firms are nearly twice as likely to use university programs as smaller firms.
• When asked for suggested improvements to international business education at the graduate and undergraduate levels, half of all respondents felt that stronger international emphasis in business school curricula, more emphasis on learning about other world areas/countries and their cultures, and creation of data banks/clearing houses on international resources were of “great” importance. There also continues to be a high degree of support for mandatory foreign language training.Overall, this study affirms that global competence remains a cornerstone of business success. As international business continues to grow and the international business environment continues to evolve – shaped by technology, geopolitical developments, and new regulatory landscapes – companies must adapt by investing in the skills and knowledge that will allow them to thrive. It is equally imperative for educational institutions to keep pace with these changes, ensuring that the next generation of leaders is prepared to meet the complex demands of global commerce.