Value Of Translation In Travel, Legal, And Finance Industries

Translation services have become vital in this increasingly interconnected, globalized world. People all around the industries are coming to realize the need for translation services for sure, sooner or later.

In this blog, we’re going to highlight the importance of translation across three sectors, namely travel, finance, and the legal industry.

Why translation is important for the travel industry

With more than 7000 languages being spoken in the world, the need for tourism translation services is highly in demand today. It helps businesses connect with foreign multicultural travel enthusiasts, no matter what language they speak.

Since travelers around the world mostly use the internet to plan their business and leisure trips, it’s helpful to have a travel website translated into multiple languages. When users surf the web, search engines rank those websites on the first page that are relevant to search queries. Thus, when you have a website available in the native language of the searcher, Google and Bing will rank you for the users.

This is when a client was trying to find a travel company. What happens if they land on your website and find it in a language that they can’t understand? So, you will have to translate your marketing materials so that you can attract more tourists. Like tourists and travelers from different countries like Asia. 

But as travel agencies can easily reach international tourists, there is also a chance of offending your users. For instance, if a traveler visits your website but the website includes a cheap, patchy transition, they might leave you a bad review. Therefore, travel and tourism translation services can do more harm than benefit if not done right. 

In many instances, you will need to keep your marketing communication and brand messaging consistent across markets. Often you will have to consider professional transcreation services for this purpose. Well, you may ask why transcreation and not any other translation services. The answer lies in transcreation services being perfect for marketing campaigns, advertisements, slogans, etc. The simple word-for-word translation will not always keep your audience engaged.

Why translation is important for the finance industry

Economics, banking, and finance are some of the most dynamic sectors in the world. There are always new developments, products, terms, and concepts added to this area. Sometimes even the experts in the financial industry find it difficult to stay on top of all such changes. 

However, financial translators have no other option but to keep up with all these industry innovations. Hence, financial translations are quite complex since they require not only financial expertise but language proficiency as well.

The question is: why would someone need financial translation services?

While it’s true that English has established itself as the most dominant language in the business sphere. There’s also no denying that hundreds of international companies have their headquarters in various parts of the world. Since English is not used all over the globe, these global brands can’t always rely on English to communicate their brand messaging. 

Because companies also have investors, lenders, and shareholders across the planet, they need financial translations. In fact, these translations have become vital for various financial documents such as investment bonds, shareholder reports, balance sheets, and more. Many companies need these services for translating their tax reports, income statements, and regulatory documents.

But as with any language services, financial translations also present a lot of challenges. One challenge is to keep your financial information confidential. You can’t afford your critical data to leak, it can damage your reputation.

Accuracy is the other big challenge in financial translations. A simple literary work is not something you will require for your financial documents. You can’t rely on machine translation software such as Google Translate to translate your contracts and deals. Therefore, it’s good to always work with reputed linguistic services with years of experience.

Why translation is important for the legal industry

Legal translation involves translating anything and everything that has its use in the legal field. A lot of people need legal translation services on many occasions in their life and the same goes for law firms and private clients.

The most common examples of legal documents include birth certificates, marriage certificates, divorce certificates, court transcripts, legal texts, immigration paperwork, service agreements, contracts, and various other official documents.

Hence, contract and legal translation services are important because they serve as a foundation in pretty much everything we do in our lives. 

Since the world has become so interconnected, global businesses need these legal translations more than ever before. They have many international agreements, acts, legislations, and policies that must be translated into other languages. Sometimes, a business will need to issue its decision or update in multiple languages for best communication. 

Companies also require legal translations because they are required to get documents clarification for their international operations. A small delay or mistake can cost them a lot of money and resources. Hence, such translations also need to be very timely in some cases.

This makes the life of legal translators very tough. Since many countries have varied legal systems and legislations, they have to use the exact legal terminology that a target country speaks.

These translations also require the professionals to be very precise in their approach. Otherwise, the mistakes can lead to various business repercussions. On the other hand, they have to meet deadlines. Any delay in translating the legal documents can postpone the launch of products or services in a specific country. That in turn, can deprive the companies of a huge amount of revenue.