Average Per Word Rate for Translation in the United States Is Dropping

The average per word rate for translation in the United States is dropping, according to new research from The Common Sense Advisory (CSA). In its annual report on the global translation and localization services market, CSA found that the average per word rate for translation has fallen by 3.5% since last year. It marks the second consecutive year of declining rates, and analysts say the trend will likely continue in 2023. So what’s driving this downward shift? And what does it mean for businesses that rely on translation services? Keep reading to find out.

The average per-word rate for translation in the United States has been dropping steadily for the past few years. It is likely due to a combination of factors, including increased globalization and the rise of translation vendors who offer low-cost services.

As translation becomes more commonplace, the demand for translation services is increasing. However, the pool of qualified translators is not keeping pace with this demand. It has resulted in a decrease in the average per-word rate that translators charge.

Vendor managers have taken advantage of this situation by offering low-cost translation. It has further driven down the average per word rate for translation.

As the average per word rate for translation continues to drop, it is becoming more difficult for translators to make a living. It could eventually lead to a shortage of qualified translators, which would drive up the cost of translation services.

Translation is an essential part of the globalization process. As more businesses expand into new markets, they need translation services to communicate with their customers and partners.

However, the declining average per word rate for translation could make it difficult for businesses to afford translation services. It could limit the ability of companies to expand into new markets and ultimately have a negative impact on the globalization process.

Businesses need to be aware of the declining average per word rate for translation. They should budget accordingly and consider using translation vendors who offer competitive rates. Doing so can ensure they have the translation services they need to communicate effectively in a global marketplace.

In conclusion, translating your content can be a great way to reach new customers and increase sales. However, it’s essential to consider the average per-word rate for your target language. Contact us today if you want help with translations or finding the right translator for your business.

Amira Mansour #translation #translationservices #globalization #localization #digitaltransformation #metaversedevelopment