The business of translation
Over the last 2 years, the dollar has lost more than 18% of its value against the euro (sinking from $1.20 to 1.42 per euro). This foreign exchange (forex) reality means that the cost of translations into Western European languages paid by American companies has gone up by the same rate. Conversely, translations into English done by American translators for European LSPs have become cheaper.
We are in the midst of updating our research on translation pricing. Our surveys thus far have shown that LSPs have not yet transferred these increased forex costs to translation buyers, choosing instead to reduce margins or to renegotiate rates with suppliers so as not to lose business to their competitors. But LSPs tell us that they are feeling the squeeze. When the euro reaches $1.45 or $1.50, the market will adjust. U.S. translation buyers will see their invoices rise by $0.02 or $0.03 per word — that’s 10% or more of the average list price for translations.
Read more: Common Sense
Related posts:
- Business and Website Globalization: Predictions for 2008Business globalization and localization industry research and consulting firm, Common...
- Cutting Translation Costs is Bad for Business The current economic downturn has forced many companies to...
- Expat life getting harder With fluctuating exchange rates and companies less willing to...
- Continued Stability in US $12 Billion-plus Translation IndustryThe dollar is falling, but globalization presses on – with...
- Conference on Business, Languages and Intercultural Skills Language skills are crucial for growth and jobs. Each...
Entries (RSS)