| Pages in topic: < [1 2 3] > | How has the economic crisis influenced the translation market? Thread poster: Pablo Bouvier
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Paul Daubreu (X)
Local time: 14:26
French to German
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| Not afraid to admit... | Sep 15, 2009 |
Eleftherios Kritikakis wrote:
It has affected almost all markets, and you' re not going to hear opinions from others who have experienced serious decline, because they' re afraid to post such views (the minute they do, the others are going to jump down their throats with advice, while boasting how well they do themselves).
that 2009 was by far not so good as 2008 (seen in terms of volume as well as in terms of income) for reasons I can only guess to some point and that ridiculous offers coming mainly coming from Eastern Europe, Latin America and the United States land with a monotonous regularity in my inbox.
| | | | Samuel Murray 
Netherlands
Local time: 14:26
Member (2006)
English to Afrikaans
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| A definite slump for me | Sep 15, 2009 |
Pablo Bouvier wrote:
...this post is rather addressed to get comparative criteria at European and international level.
Most of my clients are US clients who do business in my country. So... I've noticed a definite downturn of work over the past few months.
| | | | David Singer
United Kingdom
Local time: 13:26
Swedish to English
| Major agencies taking the pressure... | Sep 15, 2009 |
One major agency asked me to accept a 3% reduction recently and another has just announced that they are going to change payment terms from 30 days to 60 days in two stages after demands from end clients.
However, I have started taking on larger, more lucrative projects from my other, more regular agencies. Definitely fewer smaller projects and, yes, the usual suspects are still naively translating stuff internally and then asking an external translation to clear up the mess.
I woul... See more One major agency asked me to accept a 3% reduction recently and another has just announced that they are going to change payment terms from 30 days to 60 days in two stages after demands from end clients.
However, I have started taking on larger, more lucrative projects from my other, more regular agencies. Definitely fewer smaller projects and, yes, the usual suspects are still naively translating stuff internally and then asking an external translation to clear up the mess.
I would agree that efforts to attract direct clients are probably most likely to succeed right now more than ever. ▲ Collapse
| | | | Latin_Hellas (X)
United States
Local time: 14:26
Italian to English
+ ...
| Back to 2006 Levels | Sep 15, 2009 |
I have specialized in finance, 2007 and 2008 were record years, while so far 2009 has returned to 2006 levels, but that is relying on my longtime steady customers without making much effort at new marketing.
By the way, to this native English speaker at least, economic "crisis" would mean that there is a breakdown in the basics such as food delivery and utility services to businesses and households. We have experienced a (much deserved) breakdown in the financial system, so financi... See more I have specialized in finance, 2007 and 2008 were record years, while so far 2009 has returned to 2006 levels, but that is relying on my longtime steady customers without making much effort at new marketing.
By the way, to this native English speaker at least, economic "crisis" would mean that there is a breakdown in the basics such as food delivery and utility services to businesses and households. We have experienced a (much deserved) breakdown in the financial system, so financial crisis indeed, which has triggered an economic recession (recession in the real economy), or simply recession, but not an economic crisis: many posters have reported a steady if not increasing level of business, but how many have experienced food shortage or lack of water or electricity? On the other hand, many have experienced the credit crunch, but no one has starved to death because of it, people are just consuming fewer non-productive resources on borrowed money: the financial crisis and the recession have actually been a good thing, and let's hope the screws on easy credit remain tight so that the real economy can be recalibrated on a more sound footing.
[Edited at 2009-09-15 08:41 GMT]
[Edited at 2009-09-15 08:42 GMT]
[Edited at 2009-09-15 08:43 GMT] ▲ Collapse
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| @Eleftherios | Sep 15, 2009 |
Eleftherios, your comments more or less confirm what I've heard from agency owners and noticed from examining the numbers of translators and their language pairs in various organizations as well as statistics for translation volumes by language. Greek, Bulgarian and other "minor" languages are being neglected in many large multilingual projects in which they would have been included in the past. As for the cultural comparisons, I can't comment in a knowledgeable way, but I find it hard to believ... See more Eleftherios, your comments more or less confirm what I've heard from agency owners and noticed from examining the numbers of translators and their language pairs in various organizations as well as statistics for translation volumes by language. Greek, Bulgarian and other "minor" languages are being neglected in many large multilingual projects in which they would have been included in the past. As for the cultural comparisons, I can't comment in a knowledgeable way, but I find it hard to believe that the majority of Greek translators live off their parents. There are surely a good number who see themselves as professionals and focus accordingly, though perhaps this will happen only in very specialized areas. There are plenty of foolish amateurs in my pair too, more in fact on a strictly numerical basis at least.
But all this merely underscores the problem many of us have when discussing rates and "markets". There are huge differences in the language pairs, regional perceptions (a superb DE>EN translator I know has occasional trouble convincing clients simply because he lives in India), psychological factors (many are simply not assertive enough to get the rates that are available), technical issues (if you don't know how to approach the technical challenges of a project in a profitable manner your field of business is restricted), etc. What is a perfectly objective, somewhat resigned comment from me about a crushing volume of potential work and the desire for a long vacation might very well be (and often it seems is) understood by someone in another situation as bragging or an implication that they are somehow failing because they have not followed "my" formula. That reaction misses the point entirely: there is no universal formula. You, Eleftherios, make comments and suggestions based on your experience and observations and I on mine. There are often very far apart, but both are valid in their proper contexts. And a specialist for RO>FR dentistry translations will simply have to exercise her intelligence and decide whether anything either of us have to say is relevant to her and her market. Beyond simple issues like how to import a file in TagEditor or convert a word price to some other units I doubt there is much.
[Edited at 2009-09-15 10:06 GMT] ▲ Collapse
| | | | Edward Vreeburg
Netherlands
Local time: 14:26
Member (2008)
English to Dutch
+ ...
| June-July slow as always | Sep 15, 2009 |
But this year I've seen many requests from new clients, it seems like people cannot afford to deliver bad quality anymore... So they are looking for better translators, at reaonable prices.
I've had no new / additional work from ANY of the agencies that asked me to reduce my prices, and I have been charging higher prices for those clients that really needed the best quality with rediculous deadlines...
A lot of new clients in US/ UK, some new clients from Germany and France, ... See more But this year I've seen many requests from new clients, it seems like people cannot afford to deliver bad quality anymore... So they are looking for better translators, at reaonable prices.
I've had no new / additional work from ANY of the agencies that asked me to reduce my prices, and I have been charging higher prices for those clients that really needed the best quality with rediculous deadlines...
A lot of new clients in US/ UK, some new clients from Germany and France, less work from regular clients in France.
===
Ed ▲ Collapse
| | | | Rick Henry
United States
Local time: 08:26
Italian to English
+ ...
| This summer's been slow for me... | Sep 15, 2009 |
However, my normal slow period (Feb-Mar) was busier than normal.
R.
==
| | | | Özden Arıkan
Germany
Local time: 14:26
English to Turkish
+ ...
To tell the truth, 2009 has been my worst year in business. Being located in a third-language country, my chances for finding direct clients are not too bright. For some companies I had been working for through agencies, the last bits of translations I did were about how the recession was affecting their business and because of this how they were forced to cut costs, among other things, of marketing and translation. As I translated them, I felt like the hero of a folk tale who delivered the gove... See more To tell the truth, 2009 has been my worst year in business. Being located in a third-language country, my chances for finding direct clients are not too bright. For some companies I had been working for through agencies, the last bits of translations I did were about how the recession was affecting their business and because of this how they were forced to cut costs, among other things, of marketing and translation. As I translated them, I felt like the hero of a folk tale who delivered the governor a letter by the sultan ordering his own execution (but, unlike him, didn't end up marrying the governor's daughter... yet!)
The only sunny side is that I can now find the time for literary translations for publishers and I find myself safe and loved in the arms of my first lover, whom I realized I was missing a lot ▲ Collapse
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Eric Hahn (X)
France
Local time: 14:26
French to German
+ ...
| Harsh competition among agencies | Sep 15, 2009 |
I am monitoring the evolution of keyword bidding in Google Adwords :
Today, the estimated CPC (cost per click) for the keyword "englisch fachübersetzung" is 8 € ! Yesterday, it was no less than 10 € !
To my surprise, the "big players" who can afford these marketing costs are low cost agencies !
[Modifié le 2009-09-15 16:04 GMT]
| | | | Pablo Bouvier
Local time: 14:26
German to Spanish
+ ...
TOPIC STARTER | How has the economic crisis influenced the translation market? | Sep 15, 2009 |
Thank you all very much for your very interesting contributions.
Do you believe, in accordance with the previous comments, we can follow that the economic crisis (or recession) favors a bigger hiring of quality freelance-translators in the Anglo-Saxon countries? And harms in the same measure the other countries?
| | | | Giles Watson
Italy
Local time: 14:26
Italian to English
In memoriam | Perhaps not, Pablo | Sep 15, 2009 |
Pablo Bouvier wrote:
Do you believe, in accordance with the previous comments, we can follow that the economic crisis (or recession) favors a bigger hiring of quality freelance-translators in the Anglo-Saxon countries? And harms in the same measure the other countries?
It's a question of language, not geography, Pablo.
I've had more business over the past year or so but almost all of it has come from direct clients in Italy. The key factors seem to be that they are either selling premium products for which demand always outstrips the limited supply (wines) or are using new media to deliver products in an innovative manner (publishing).
English as a target language is crucial - the products are aimed at markets outside Italy - but not the physical location of the client.
Giles
| | | | Pablo Bouvier
Local time: 14:26
German to Spanish
+ ...
TOPIC STARTER | How has the economic crisis influenced the translation market? | Sep 16, 2009 |
Giles Watson wrote:
Pablo Bouvier wrote:
Do you believe, in accordance with the previous comments, we can follow that the economic crisis (or recession) favors a bigger hiring of quality freelance-translators in the Anglo-Saxon countries? And harms in the same measure the other countries?
It's a question of language, not geography, Pablo.
I've had more business over the past year or so but almost all of it has come from direct clients in Italy. The key factors seem to be that they are either selling premium products for which demand always outstrips the limited supply (wines) or are using new media to deliver products in an innovative manner (publishing).
English as a target language is crucial - the products are aimed at markets outside Italy - but not the physical location of the client.
Giles
Maybe you are right. But, I guess residence country has something to do with too.
Bear in mind, I live in the unique european country that will still stay in recession until 2010... and if industry tourns down, services (translations) go behind...
[Editado a las 2009-09-16 13:38 GMT]
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Paul Daubreu (X)
Local time: 14:26
French to German
+ ...
| I would not be so sure... | Sep 16, 2009 |
Pablo Bouvier wrote:
Bear in mind, I live in the unique european country that will still stay in recession until 2010... and if industry tourns down, services (translations) go behind...
[Editado a las 2009-09-16 13:38 GMT]
The only European country that will stay in recession until 2010? How about France?
| | | | Paul Daubreu (X)
Local time: 14:26
French to German
+ ...
| Surprise, surprise... | Sep 16, 2009 |
Eric Hahn wrote:
I am monitoring the evolution of keyword bidding in Google Adwords :
Today, the estimated CPC (cost per click) for the keyword "englisch fachübersetzung" is 8 € ! Yesterday, it was no less than 10 € !
To my surprise, the "big players" who can afford these marketing costs are low cost agencies !
[Modifié le 2009-09-15 16:04 GMT]
I understand this: the lower you sell your services, the more volume you need. Would these agencies not be wiser investing in the long term business?
| | | | Pablo Bouvier
Local time: 14:26
German to Spanish
+ ...
TOPIC STARTER | How has the economic crisis influenced the translation market? | Sep 16, 2009 |
Paul Daubreuil wrote:
Pablo Bouvier wrote:
Bear in mind, I live in the unique european country that will still stay in recession until 2010... and if industry tourns down, services (translations) go behind...
[Editado a las 2009-09-16 13:38 GMT]
The only European country that will stay in recession until 2010? How about France ?
I am relying on what the responsible for Economic and Monetary Affairs, Joaquín Almunia, said a the EC a few days ago... (but, of course I should not)
[Editado a las 2009-09-16 15:56 GMT]
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