Growth of Language Industry
Because of digitalization, the world has become more connected than before. Do you know apart from digitalization what else is connecting the world and mitigating the language barriers? It is the language industry. Due to the significance of the language industry, the demand for proficient translators and interpretation is also at its peak. According to the report by ATA, the number of people working in the language industry has doubled in the last seven years. Moreover, companies working for language services have also increased up to 24%. It is expected that language service employment will increase up to 29% by the year 2024. Do you wonder why this is so? Let’s find out. Globalization demands businesses to operate in different countries. You can only tap into a foreign country if you try to communicate in their mother tongue. For example, entrepreneurs wish to target the booming market of China. For this, they must go for Chinese translation services. These services can be provided by professional language service providers.
Do you want to Start Your Business in China?
China is one of the flourishing economies of the world. In 1979, China opened the investment and trade doors which enhanced its gross domestic product to 9.5% making it one of the top economies of the world. To your surprise, Chinese people have the highest purchasing power parity. Therefore, to make Chinese people understand your products and services. Moreover, to compel them to buy your products and services. You must take the assistance of Mandarin translation services. Do you know that China is the world’s largest exporter, manufacturer, and merchandise trader, holding a large reserve of foreign exchange? All these things compelled entrepreneurs to tap into China’s market. To be a part of global trade, one cannot ignore China. So to adopt Chinese business ethics, the Chinese translation service will be of great help to you.
Do You Want to tap into the Malaysian market?
Malaysia is one of the important countries in Southeast Asia. It is imperative for entrepreneurs because it is providing the best business environment. Therefore, no businessman can resist Malaysia. To start your business in this country, you must prepare a business plan. A business plan will act as a road plan for your business. First, you must understand consumer behavior and their preferences about products and services. For this, you must do certain things.
- Analyze the market data, check your competitors, and then decide which cadre of the market you want to target.
- Research and try to understand consumer behavior and their tastes and preferences.
- Make a feasibility report on how much you must invest in the market.
- Do you want to open a brick-and-mortar store or go for an e-commerce website?
Languages play an important role in shaping consumer behavior. So to understand the Malaysian consumers and to draft a business plan, you must take the assistance of Malay translation services. It will make your business endeavor easy in Malaysia.
Do You Want to Do Business in MENA Countries?
If you aspire to expand your business in MENA countries, which include the Middle East and North Africa then you will reap amazing investment results. At present, North African and Middle East countries are working to diversify their oil-based reserves. This has created a great opportunity for foreign investors to tap into this region. Hence entrepreneurs must consider some facts before establishing a business there.
- Arabic is the dominant language in the region. Therefore to start a business in MENA countries, you must go for Arabic translation services. The important point to note is that an Arab speaker doesn’t need to be Arab. There are many North Africans who are called Amazing. If you call them Arabs or French, they easily get offended.
- Social norms in these countries are almost similar. The people of the MENA region are welcoming and generous. However, they are very concerned about their cultural image. They get easily offended if you advertise anything which is against their cultural norms. You can understand the cultural insights of MENA countries if you opt for Arabic translation services. Although some other languages are spoken in this region, Arabic holds great significance.
- Another thing to consider in the MENA region is the financial regulations of each country. If you are aiming to sell luxurious products then you can target Saudi Arabia. On the other hand, if you want to sell less expensive things then you must select Egypt which is a densely populated country. People of Egypt prefer affordable and practical things.
Wrapping Up
We cannot underestimate the growth of the language industry in every field and every country. Moreover, we cannot understand different consumer behaviors and expand our business in foreign countries if we don’t communicate in their native language. Many language service providers are working around the world. No matter how unknown or difficult your language is, they have a team of native translators that can provide you with seamless translation results in your target language. For instance, if you need a translation in the Malay language, professional LSPs will provide you with Malay translation services at a fast turnaround time and at affordable rates. Are you ready to take leverage of the language industry to expand your business?
