Language Services as a driver of competitiveness
Language services drive economic growth, facilitate the creation of new jobs and promote competitiveness for companies globally.
All sectors of the economy depend on language services for income, earnings growth, job creation, technology and knowledge transfer, and product innovation and research and development. There are no exceptions. All sectors globally produce content to sell and market their products or services and / or transfer knowledge to audiences whose native language is different from yours.
Businesses compete in the global economy for market share, customers, and resources. Corporations globally are investing to identify alternatives to overcome the language barrier. Whether it is a multinational company that sells software, a government agency that monitors conversations, or an NGO that helps spread information about water sanitation, in the end the user must understand the language of the message, service or product.
Operating on a global scale is one of the biggest challenges companies face. Competition from abroad is fierce, whether you are dealing with a small startup or a multi-million dollar corporation. English was long considered the global language for doing business, but it is losing that status. Less than 27% of Internet content is published in English and growth in other languages, especially Chinese, is much faster.
Social media and online communities are creating an explosion of content written in languages other than English. Together, they constitute a completely new category of information that barely existed fifteen years ago, called “user-generated content” (UGC). For example, every day:
• 60,000 new websites are added to the Web.
• More than 140 million tweets are created on Twitter.
• 1.5 billion pieces of Facebook content are created.
• 1.6 million blog posts are written.
• 2 million videos are added on YouTube.
In fact, given current globalization and its expansion of markets, migratory flows and global connectivity, we can say that the competitiveness of nations and their sectors is directly proportional to their ability to communicate multiculturally.
For example, the United Kingdom faces an opportunity cost of 3.5% of its Gross Domestic Product for its inability to communicate in languages other than English, especially now that its international trade is drastically reduced when leaving the European Union. In part, like the opposite case, Switzerland attributes 10% of its Gross Domestic Product to its ability to communicate and interact multiculturally on a global level.
Is your organization ready to interact multiculturally on a global level?
At LingoCall we help you communicate effectively and empathetically with your global audiences, in accordance with the culture and protocol of each region. Remote services Interpretation – Translation – Localization – Voiceover – Subtitling translated into more than 25 languages.
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