Language services is a largely unsung industry – many people have never heard of it. Yet it’s a $34.8 billion industry, according to Common Sense Advisory, and growing. In a recent special feature, “Success in any Language,” Fortune Magazine provides an in-depth look at language service providers and their critical translation and interpretation services working in the background of today’s global economy.
Fortune starts out by highlighting the need for engaging consumers in their own language. Considering that nine percent of consumers in the U.S. don’t speak English and that consumers outside the U.S. overwhelmingly prefer their local language, there’s strong motivation for businesses to utilize translation and localization services. Beyond boosting credibility, relevance, and brand integrity, communicating to consumers can increase revenue; Fortune 500 companies with foreign-language websites were 50% more likely to report increased revenue when they increased their translation budgets.
But the benefits of multilingual communication go beyond the bottom line. As the article continues, Fortune illustrates how language translation providers can even help prevent tragedy, ensuring efficient communication during a trip to the emergency room or a natural disaster. One such example is charity work through the non-profit Translators Without Borders, which provides volunteer translators in life-threatening situations. The main takeaway for all – volunteers saving lives, governments providing services or businesses expanding into markets: language is at the heart of human interaction.