The New Year 2020 has revealed a slow increase in the world economy not exceeding 4.00% at best. This figure was suggested by the World Bank and approved by major economic expectations. What this figure showed at the onsite of the new year is a bit better economic situation for business investors and living conditions, though limited in scope and importance due to the new pandemic outbreak. What this implies for the world of professional translation services is that there is a sharply evolving decrease in the sector turnover. Business performance in general influences the sub-sector of business services, and this has been noticed after major economic crises in specific. The liquidation of big names in the field of professional technical translation and the decreased income for freelancers was clearly noticed after the mortgage crisis in 2008. The fact that being one of the business services and working dependently on businesses does offer enough clarifications for this relationship between translation business performance and the economic situation in general.
Professional translation services niche has been waiting for major economic improvement and the restructuring of an important growth to reach underdevelopment countries so that more opportunities are created and the movement of capital and efficiency of launched projects encourages international cooperation. The creation of communication channels around the world is what matters more for providers of professional online French translation facilities. After all, translation is all about the provision of mutual understanding and the assurance that communication takes place between two or more parties in business, politics, science and culture. Hence, the establishment of translation channels in itself can more important than the economic growth alone.
It is also true that business lies behind the financing and encouragement of texts to be translated. It provides the profit motive for translation projects to take place, which has been noticed after the Corona virus repercussions. However, global organisations can reach a number of goals by enhancing global peace and stability through the encouragement of technical translators. People in charge of these major bodies have not unfortunately given enough importance to the promotion of translation as a profession. For them, translation has been a major and last recourse when there is a need to convey a message to another audience.
In view of the limited number of important projects open to companies and individual freelance translators, the profession has encouraged intruders and low profile charlatans to postulate for translation jobs, reduce the cost by employing unprofessional people and win the market at the expense of those for quality still matters. The situation has also worsened by the war on rates during the first quarter of 2020. Rates are now going down to a very low level because of the fierce competition. We should always remember that there are professional translators, either companies or individuals, whose expertise is not questioned. But, because of this situation, they find themselves unable to compete.
What has also worsened the situation is that a number of unemployed individuals have found refuge in the provision of professional translation services. Desperate job seekers often content themselves with a limited income from permanent translation tasks until they find a permanent job. Therefore, being dependent on business and the performance of global and local economies is not the best solution. We should suggest helping the profession by advocating the need to promote translating for cultural and educational aims.