Applied Linguistics can contribute to the enhancement of economic growth and societal well-being by addressing today's social challenges and integrating employability, internationalization initiatives and knowledge transfer across higher education and elsewhere. This volume aims first to raise awareness of the significant contribution of Applied Linguistics in these key areas and then explore the challenges which scholars, researchers and students need to address when trying to build successful and sustainable collaboration between universities, industries and public sectors in national, transnational and international contexts. It also provides clear pointers for bringing university degrees in line with today's job market and social demands.