If you’re heading into a new market, with either a different language or culture, you will need things translated. The list of documents to translate is almost endless. It could be marketing material, contracts, legal documents, or your e-commerce site.
Some industries, however, tend to need translation services more than others.
Is your business in one of these industries? If so, it would be worth putting a plan together for translation and localization somewhere on your radar. Because even if you don’t need it yet, there’ll come a time when you will.
At LinguaLinx, as a Language Services Provider (LSP), our clients operate in a wide range of different industries.
In this article, we’ll take a look at the top six industries we come across.
6 Industries that Have the Most Translation Needs
- Banking and Finance
- Healthcare and Medical
- Education and Training
- Retail and Ecommerce
- Legal
- Travel & Tourism
1. Banking and Finance
We’re all affected by the decisions made by the banking and financial services industry. Today, more than ever, people operate globally, and having a smooth international financial system is critical to world economies.
Underpinning this is the ability for everyone to understand their financial situation in their own language. This gives people the best chance to make the right decisions for themselves and their families.
Bank statements, investment reports, tax reports, and shareholder information are just a few examples of financial documents that need accurate translation to ensure the stability of the global economy.
Learn more:
- Top Documents Financial Institutes Need to Translate
- Top Requirements for Finance and Banking Translations
2. Healthcare and Medical
From health insurance to medical documents to assisting people speaking with health professionals in foreign countries, translation needs of the healthcare and medical industry bring with them their own kind of pressure.
At one end of the spectrum, it may be dealing with life and death, while at the other end, it’s preventative and ensuring everything is in place in case something does happen. Either way, it’s vital that all patients and customers know exactly how they’re being treated or how they’re being covered.
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3. Education and Training
Every child should have the right to an education regardless of their native language. The U.S. Department of Education not only regulates the classroom but says, “schools must communicate information to Limited English Proficient (LEP) parents in a language they can understand.”
After all, the support network outside of the classroom is integral to the education of the student. In the same way schools, colleges, and universities are shaping the workforce of tomorrow, training programs are sharpening the work force of today.
Strong translation in both education and training includes everything from report cards to training and educational materials to school guidelines and processes.
Learn More:
4. Retail and E-commerce
Regardless of how many channels you operate in as a retailer, if you’re heading into a new market, you need to know the people, the language, and the culture.
Speaking directly to them shows you care about their business and their lives. Translation is one thing, but you need to go a step further and localize.
Localization is total immersion into the new market.
Starting operations in Sweden? Which of the seven dialects would make the most sense for your retail business? A good LSP will have the team and connections in place to help your retail business make the right decision for any market.
5. Legal
This is documentation that drives economies and protects our human rights. It doesn’t get much more important than this.
Having contracts, wills, identity records, court documentation, and all other legal documents correctly translated is critical to the running of people’s personal lives as well as businesses and governments.
Learn More:
- Top Legal Documents Your Practice Needs to Translate
- Top Requirements for Legal Document Translations
6. Travel and Tourism
The effect of Covid-19 on the travel and tourism industry has been significant. It’s now, however, showing signs of bouncing back with a vengeance.
And for countries that rely heavily on this industry, their marketing efforts need to be translated into multiple languages to entice people from other countries to visit them.
And when the tourists arrive, they need to understand how to spend their money with as few barriers as possible – language being top of the list.
Are You on the List?
Maybe your industry is, maybe it isn’t. Honorable mention would go to both engineering and the entertainment and media industries.
PWC reports that the latter has global revenue in excess of $2.3 trillion. And everything you see streamed on Netflix, Amazon Prime, Disney+, HBO Max and the rest of them, has been dubbed, translated, or both. And up to ten times as much as the production budget is spent on localizing the marketing material.
Regardless of your industry, if you’re branching out into new territory, then translation and localization should be on your agenda. Thinking about it early, and partnering with the right LSP, can save you a lot of hassle and money in the long run.
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