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Importing and exporting transactions, translators, interpreters and transferring manuals, documents, agreements, and conversations from source language to the target language. If there is a breakdown in the communication level there would be a great loss, leading to billions of dollars lost and also lost of good opportunities. That shows why language translators and those interested in the GILT industry are so much important.
The Globalization, Internationalization, Localization, and Translation (GILT) industry that includes language translation and interpreting services is an ever-growing industry with infinite opportunities. The phrase ‘going global’ is no longer catchy, but it has become a way of life. Every day we interact and play our part in the global economy, for instance, we drink coffee every morning which is most probably from South America, the car we drive is from Germany and the gas in our vehicle is imported from Saudi Arabia, our laptops are from China and highly sophisticated flat screen TVs from Japan.
Significance of Translation
Translation can effectively help in solving one of the biggest tourist dilemmas, that of being short-changed or fleeced by unfamiliar people in foreign destinations. At the same time, translated tourism materials not only help tourists feel welcome in an unknown country, but also boosts the country's popularity as a tourist friendly destination, thereby leading to significant tourism-related revenues.
Music, literature, films, and various other art forms transcend global boundaries because of the way they are effectively translated to reflect local languages and sentiments. Translated and subtitled films today generate more revenue than ever for the global film industry, with blockbuster movies looking at China as the next big market, where the success of translated films have led production houses touch the $1bn mark more frequently than ever.
Significance of Translation
Growth of Multinational Companies
Translation is exceptionally important for companies and businesses which operate in multiple countries and often need to share and receive information from different global offices and branches across the world. In such cases, the shared information needs to be translated into a locally preferred language so that everyone involved is on the same page.
Quality language translation aims to bridge the communication gap by helping companies reach a multivariate global audience by talking in a language their clients can understand and relate to. Whether it is a traditional brick and mortar businesses or an emerging online venture, translation services coupled with the rising online population offers a lucrative market that wasn't possible 20-30 years back.
Today, the translation industry provides services such as
• Translating written material and paper-based documents
• Interpreting services and Sign-language services
• Digital documentation translation
• Software translation and website translation (localization)
