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Europe’s Service and Manufacturing Industries Boost Translation Demand in 2009
(BOSTON, MA) – December 11, 2009 – How does Europe communicate with the rest of the world? Multilingually.  More than 200 languages are spoken in Europe, and 23 are official languages of the European Union.  A recently-released report from market research firm Common Sense Advisory examines where the demand for these language services is generated. “The European Translation Market” pinpoints 37 of the industries that spend the most on translation and interpreting services, estimates their expenditure, and reveals the geographic concentration of European buyer organizations and language service providers operating within Europe.

The report finds that small- and medium-sized businesses are the primary beneficiaries of the booming demand for language services in Europe. “From 2007 to 2008, translation companies with annual revenue of one to €1.9 million grew at an average rate of 2.4 percent, and those that earned €2 to €4.9 million grew at an average rate of 4.2 percent,” said Rocío Txabarriaga, senior analyst at Common Sense Advisory, and the lead researcher for the study.  “The report also shows that most companies providing language services showed strong rates of growth throughout the global recession,” Txabarriaga points out.

The 51-page report includes:
•    An estimation of the total value of the language services market in Europe, including an overview of the industry obtained through a survey of 432 language services providers (LSPs)
•    A ranking of 37 industries propelling the demand for language services, including the estimated expenditure by sector, and geographic concentration of companies
•    An analysis of the macroeconomic, social and political factors behind the demand
•    The languages that European businesses most commonly request
•    Recommendations for using the information in the report in business planning.

The report also provides a detailed analysis of the market drivers, which include international trade, exports, gross domestic product, migration, and language policy. “To stay competitive in a global market, European businesses must communicate multilingually. Likewise, governments are more effective when they can receive and transmit information to their linguistically diverse populations.” comments Txabarriaga. “These two important trends are not going away anytime soon– and the language services market continues to benefit as a direct result.”
"The European Translation Market" is the first comprehensive report on the language services industry in Europe produced by Common Sense Advisory, and is available as part of a subscription to clients. For more information about this report and others, visit www.commonsenseadvisory.com.
Submitted On: 1/10/2011

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