No recession for translation

The ideal situation for any industry is that it may experience a rapid and steady growth. This, unfortunately, is rarely the case and is more likely an industry aspiration rather than a reality, especially in the current economic climate. In the recent fortuitous years, however, the translation industry has benefited from this rare case of consistent expansion.

Text by Afaf Steiert Matthias Steiert Elanna Mariniello


One might wonder what the benefits are to exploring the growth of this industry. On the most basic level, the progression of the translation industry is a reflection of the societal step towards globalization. The demand for translation shows an increasing necessity to cross cultural barriers and to exchange information on a much broader level. Statistics show that translators are promptly changing the way we access information.

The translation industry is generally considered under the broader umbrella of language services. Thus, when analyzing industry data, translation is grouped with other language service providers (LSPs) and discussed as a single entity. Additional services provided by LSPs are interpretation, localization, internationalization and supporting technologies. Interpretation involves the spoken and immediate translation of one language into another. Localization ...