The translation service seesaw
As we are all experiencing the recession, some more than others, the language industry is showing that when there is little work in one area of specialization there is more in others. Take it from this point of view when businesses are growing into new markets they need localization, be it translation of documents, websites, brochures e.t.c. However, when there is a downturn in these types of translation services due to economic crisis, other specialized translation service are needed.
Now unfortunately businesses are closing, going into liquidation needing legal and most often official translations. In a recent survey by global watch tower a translator stated: “The translation market is pretty resilient. When things are good, you translate loan agreements. During downturns, you translate foreclosures.” Give your take!
I agree that the translation market is holding out pretty well. This year there has been an increase in many areas of legal and financial translation as companies are now seeking new sources of finance (or trying to renew the credit facilities they already had). Other translation clients are looking to expand and offer their services on new markets which are less sensitive to the current financial situation.
As a sworn translator there is always going to be a base market. For example people are always going to need to get their certificates translated to work abroad, birth certificates in order to obtain nationality in foreign countries and so on. However, I must say I have seen a slight downturn from smaller companies wanting to localise there brochures, products etc… Also the large multinationals seem to be translating only want has to be translated. In summary, everyone is tightening their belts! Ciao!
Yo creo que los servicios de traducción tienen tanta competecia o más que cualquier otro servicio profesional. El hecho de la crisis puede haber afectado pero también la creciente competencia.
I belive translation services have as much competence as any other professional service. The crisis could have affected this market but the growing competence can´t be forgotten
Tough times for everyone, I am afraid.
The most common translation pairs such as english to spanish or spanish to english will always have to deal with more competence in the online market so, my suggestion is to give extra services such as shorter deadlines
I entirely agree with you, Leona. That pair language combination demands more extra service for the same price
The translation seesaw, in my opinion, happens continuosly and I don´t think the situation has changed that much due to the so-called crisis. As you will probably imagine google has different ways to promote certains companies and nobody can understand who it really functions so if you think translation services are on the increase or, on the other hand, decreasing I think you should look around and realise that translation is always on demand, all you have to do is to change your prices a bit or your services if you are a translator and if you are a client just do some more research
As I see it, translation services are seasonal. My experience in this field shows that during the summer holidays and Christmas translation workload gets on stand by or decreases whereas the rest of the year it tends to increase.
Also, depending on easy it is to find your website on search engines you are more likely to receive more work
The situation nowadays is going back to what it was so it shouldn´t be a big issue for translation companies to worry about their situations any more. I agree with Rachel that the translation industry is seasonal and that also google techniques to promote businesses might also affect translation businesses but that is life!
Translation workflow is suffering the consequences of the recession as for translation of things that are no vital, however I think certified translations,as they are always needed, are still a good way of income for those who are sworn translators
Good post, useful blog, thank you for your work, keep on, guys!