Friday, November 27, 2009

EU language industry's turnover estimated at Euro 8.4 bn

Many people around the world, especially in the US and most EU countries live in economies that are mostly Services. Services of various types or sectors or "industries".

The language industry is a case in point.

According to a study carried out for the European Commission, the EU language industry has been less affected by the economic crisis than other industries.

The study, which is the first to analyse the size of the language industry EU-wide, covers language related services such as translation, interpreting, localising and globalising, subtitling and dubbing, language technology tools, multilingual conference organisation and language teaching.

The study estimates the industry's EU-wide turnover at Euro 8.4 billion (for 2008) with an annual increase of at least 10% over the next few years: to between Euro 16.5-20 billion by 2015.

This is one of the highest growth rates among EU industries - sectors!

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