Globalisation means that it has become easier to maintain social and business relationships with individuals and companies in other countries. Technology has been key to this – first in the form of low-cost flights and later as a result of the internet. However, the mere existence of globalisation does not mean that every company or country has benefitted from it.
The impact of globalisation can at best be seen as patchy. A study commissioned by the Bertelsmann Foundation and published this month, for example, found that Switzerland has reaped greater economic benefits from globalization than any other country. Its GDP per capita from globalization grew by €1,190 per year on average between 1990 and 2016. Japan, Finland, Ireland and Israel also did extremely well over the period.
At the other end of the spectrum was India, which saw GDP per capita increase by just €20 per year on average between 1990 and 2016. China and Mexico fared little better, with respective increases of €80 and €120 per year.
The Bertelsmann Foundation study certainly makes for interesting reading. However, before your company starts looking out for German translation services, in an effort to connect with Swiss companies, it’s worth bearing in mind that these are average figures at a national level, whereas the true picture shows that some industries and even individual products have benefited far more from globalisation than others.
In order to benefit from globalisation, you first need to assess your business and/or products from an international perspective. Market research is essential here if you are serious about succeeding overseas. Just be sure to undertake your market research translation carefully to ensure that you benefit fully from the process!
If you do find that your company is likely to be well received overseas, then professional translation and localization are essential. Those companies that seek to use globalisation to their maximum advantage do so with a clear strategy and high standards.
Professional localization services can ensure that your business is presented effectively and in the right way. They can also head off any embarrassing faux pas before they are ever made! At the same time, translation services can open up many doors will remain closed to those who stubbornly attempt to do business solely in their mother tongue.
Tomedes is able to help your business take the right approach, by providing comprehensive translation and localization services in a vast range of languages. Contact us today for further details.