• Privacy policy
  • T&C’s
  • FAQ
  • Meet the Team
  • About The London Economic
  • Advertise
TLE ONLINE SHOP!
NEWSLETTER
SUPPORT THE LONDON ECONOMIC
  • TLE
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • Entertainment
  • Film
  • Food
  • Lifestyle
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
  • TLE
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • Entertainment
  • Film
  • Food
  • Lifestyle
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
No Result
View All Result
Home Business and Economics Business

Translation – A Recession-Proof Industry

If the great financial crisis taught us anything it is that there are very few industries that can be considered ‘recession proof’. But in a global market, one that weathered the storms better than others is translation services. Reports show that the industry of translation and interpretation services has grown on average by 12 per […]

Joe Mellor by Joe Mellor
August 20, 2014
in Business

If the great financial crisis taught us anything it is that there are very few industries that can be considered ‘recession proof’. But in a global market, one that weathered the storms better than others is translation services.

Reports show that the industry of translation and interpretation services has grown on average by 12 per cent each year since 2008 and with the increase of cross-border trade and business, a recent study projected a large growth between 2010 and 2020, much larger than average business growth.

The number of jobs for translators and interpreters has also doubled in the past ten years while their wages steadily grew before, during and after the recession, despite many predicting that growing technology in machine translation would cut jobs in the industry.

Free web-based translation programs such as Google Translate have not dented the market for translation services. “Machine translation can quickly summarise large paragraphs of text and it’s free, but humans will always be needed to proofread the results, at least for the foreseeable future. Even Google doesn’t use Google Translate for their business documents”, explains Kathryn Birch, founder and managing director of award winning language service, Translive Global.

Translators and interpreters should welcome new technology, says Kathryn: “Web content is booming and due to the expansion of globalisation, the industry may actually face a shortage of qualified human translators soon. Technology is part of the solution – that’s why I created Translive Global.” Technology-savvy translation companies are growing at much faster rates than those companies that are cautious when it comes to embracing technology, her research shows.

Translive Global is a highly automated website that puts expert translators around the globe in touch with those needing translation services. The website produces algorithm-based quotes to give users an upfront idea commitment to cost which means both parties know what they’re agreeing to. They also provide interpretation and transcription services. All interpreters are available via video link through the website, making it faster and easier than ever before.

Adopting technology won’t really help in the absence of fluency and experience. Individuals must not only speak and think in two languages fluently to be translators and interpreters, they must also translate meaning from one language and culture to another without inflicting harm in the process. The most successful translators and interpreters are those who are highly educated. Many hold advanced degrees have excellent training and a solid background in translation, or a specialty field they intend to concentrate on in their work.

RelatedPosts

KPMG UK chairman quits after telling staff unconscious bias is ‘complete crap’

Why Amazon is set to earn billions from Brexit

Why BP’s green future depends on Rosneft

Brexit: Reactions as Mastercard to increase fees for UK purchases from EU

Translive Global not only provides the customer with a speedy yet simple online service, the client can also pick the translator or interpreter of their choice by viewing their profile as well as what each one charges before submitting the work.

The estimated value of the language-service industry worldwide this year will be about £22.4 billion, according to Common Sense Advisory, a market research firm in Boston.

The Internet economy is raising the need for expertly translated and localised information that speaks to all demographics and cultures clearly and conveniently. So it’s only logical that Translive Global provides this for clients by using a mix of technology and human expertise that allows for the best of both worlds to re-vitalise an age-old industry.

If you require language services or would like to know more about what Translive Global has to offer, please visit www.transliveglobal.com, email support@transliveglobal.com or call us on 02036035510.

Support fearless, free, investigative journalism Support fearless, free, investigative journalism Support fearless, free, investigative journalism

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending fromTLE

  • All
  • trending

What If We Got Rid Of Prisons?

Stress, fear and homelessness: The threat looming over families confronted with eviction

File photo dated 07/11/03 of a prison cell.

The Other Prison Pandemic

Latest from TLE

Image by AdobeStock

Weather forecast, alerts and UVB index for London, Sunday 28 February 2021

Lucky Numbers and Horoscopes for today, 28 February 2021

Boris Johnson reckons we will return to office life and working from home won’t last

Credit;PA

‘Donald J Trump ain’t going anywhere’ – Trump remains the dominant force at US conservative conference

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

Contact

Editorial enquiries, please contact: jack@thelondoneconomic.com

Commercial enquiries, please contact: advertise@thelondoneconomic.com

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • Entertainment
  • Film
  • Lifestyle
  • Food
  • Property
  • Travel
  • Tech & Auto
  • About The London Economic
  • Meet the Team
  • Privacy policy

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.