The benefits of reading cannot be overstated. Reading to your children helps them develop a love for the activity from a young age. Studies have shown that babies who have been read to eventually develop a 40% increase in their receptive vocabulary (compared to the 17% increase for babies who were not read to).
Reading with your child is also a great bonding activity that promotes a sense of well-being and calmness in them. And of course, reading also encourages healthy communication between you and your child.