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MULTI-LINGUA Kft. H-1011 Budapest, Bem rkp. 26., Phone: +36 (1) 202-0202, +36 (1) 224-0920, +36 (1) 787-8050
Translation Specialist Translation Interpretation Online Orders For Translators About Us
According to Guardian Weekly, language related services in Europe amount to one of the biggest earning sectors in the region, and it continues to experience strong growth. The report, commissioned by the EU’S translation service, stated that the expansion of the industry is expected to maintain its growth rate of 10 %. Certain sources claim that the diversity that characterizes the industry, as it includes translation, interpreting, software development, machine translation, film subtitling, etc., often causes it to be overlooked.
The report also highlights a growth in machine translation tools. This is in response to an alleged shortage of human translators and improved accuracy of computer-assisted translation. The translation and interpreting sector dominates the language industry, with an estimated value of $8bn, while language teaching was the next biggest sector, estimated to be worth $2.3bn.