Booming Indian economy fuels record demand for English translation
Booming Indian economy fuels record demand for English translation PeoplePerHour.com reports record demand for English translation, as Indian businesses look to increase international trade. The status of the English language as one of the UKs biggest exports was reinforced today by new findings that show rising demand for translation services from the fast growing BRIC economies, particularly India. Job postings for translation services on PeoplePerHour.com, Europes biggest online marketplace for businesses have been rising steadily this year. It is now the second most sought-after skill on the site, which has more than 90,000 registered users worldwide. Of the 162 translation jobs posted on PeoplePerHour.com in the month of September, 14 percent were from Indian businesses seeking native English translators. The overall demand for translation services is up 120 percent on the same month last year, and the proportion from India has doubled. This rise has been fuelled by growing demand for expertise in written English from emerging economic powerhouses. Indias economy, for example, is currently booming and its businesses are flourishing internationally. This week it was announced that a third Indian-owned company in a month just floated on Londons AIM. Indian businesses are using PeoplePerHour.com to access a rich talent pool of native English speakers who can quickly, efficiently and cost-effectively translate key marketing materials such as websites. This gives them an immediate opportunity to use online marketing tools to promote products and services to Western markets. According to PeoplePerHour.com founder and CEO Xenios Thrasyvoulou suggests the findings are indicative how work is increasingly flowing from West to East, despite the reverse being the predominant direction historically. When people think about outsourcing project work online, they typically imagine Western economies outsourcing technology services to inexpensive labour on the Subcontinent, he says. However, as these countries develop and their economies mature, were seeing growing demand for soft skills like translation, which are typically best-served by the individuals in the established Western economies. Its a subtle but significant shift in the business relationships between established and emerging economies.