Publication researched and written by Gabriel Karandysovsky.
It’s early 2020 and by now it’s not exactly news when you hear someone declaring China as a land of opportunity. Most macro- and micro-economic indicators put the country at the top (or close to the top) of any list of the most dynamic economies of the world. Furthermore, barring a catastrophic event that would alter its trajectory, China is projected to surpass the United States as the world’s number one economy sometime later this decade. Really, the fact of the matter is that China IS a land of opportunity, and businesses know it. This applies to any industry, and the language business is no different.
While researching the Chinese localization market, we noted that the fear of the unknown is still pervasive and looms large over any decision of doing business in China. In this article, we’ll be taking a top-down look at the Chinese language market to put to bed any lingering doubts whether it makes sense to do business there. We will also examine the currents at play influencing expansion strategies – whether those of domestic companies or international organizations looking to do business in the country.
Figures by the Translators Association of China (TAC), the main syndicated body of Chinese language service providers (LSPs), translators and buyers of localization, position China as arguably the largest single market for language services worldwide.
Source: TAC & Nimdzi Insights
With the ever-increasing pressure of an impending product launch date, it is quite frequent for clients and language partners to get caught up in day-to-day activities. The focus is on the deliverables, naturally. The important factors that help make a healthy client-vendor partnership get less attention.
In this webinar co-hosted by Nimdzi and Xillio, we look at technology around localization and connectivity.
Continuous growth and fragmentation have been the key characteristics of the language services market. Let's see what the data says.