What a Bullish Construction Sector In the Middle East Means For Translation Workers

dubai-construction-skylineThe construction sector in the Middle East in 2012 has shown an obvious upward trend and the outlook for 2013-14 is more positive.  Increased investments in the field of IT, private and public sector construction projects and the rising demand for sustainable construction seem to be the key drivers of this growth. The rise of optimism in the number of executives surveyed in the worldwide construction industry has led to speculation that construction prospects in 2014 would be a lot better than what they were in 2012. In the global construction industry, more than half the people are positive about the revenue growth expectations over the next whole year compared to what they were a year back.

Executives in the global construction industry expect to see enhanced levels of consolidation and anticipate an increase in the number of mergers and acquisition tasks. With a slack recovery in the economy and a weak market scenario, there is a rising need for large construction houses to expand their global presence. One of the key drivers for various kinds of acquisitions and mergers is the the growing costs exerting an increased amount of pressure on small and medium construction companies.

As the promising emerging markets for 2014 are located in Saudi Arabia, UAE and India, China and Brazil, economists foresee a growing demand for Arabic, Hindi, French, Chinese and Portuguese translation workers. The translation workers would be engaged in translating and interpreting contracts and documents between the provider and the client. This will simplify transactions and lead to a flourishing real estate industry in the Middle East. Development in housing, roads, ports, aviation, power generation and infrastructure has been touted as some of the best pockets for prosperity. Translation workers can appropriately translate online data, analysis as well as extend advisory services for the financial and industrial sectors.

International FlagsThe fast pace of today’s business environment makes room for its rapid growth beyond national borders. This is why translation services are becoming more popular than ever before. This is a sort of specialty translation that is being used in a variety of situations such as international financial transactions, intra-office communications, compliance with local rules and regulations and record keeping purposes. Different types of documents might require the attention of trained financial and legal translators and these include shareholder information, annual reports, accounting information, marketing materials advertising financial services and financial market announcements. For this very reason, the demand for translators is on the rise.

As modern technology continues to develop, the quality of technical translations too, keeps on improving, which has led to a growing demand for translation workers and interpreters. Providing the highest quality of services, the documents they produce – or re-produce – are very important to the persons in question. This is because they comprise a permanent record of the business and give the people the data they need for carrying out sales, paying taxes and to succeed in their endeavors. When it is important to translate the financial documents into other languages, the translators make sure that all the information is transmitted carefully and precisely. This is why it is very important to entrust the task to responsible services in a bullish construction market.

What a Bullish Construction Sector in Asia Means for Translation Workers

shanghai-world-financial-centerOn the basis of a discussion by the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), the region is regarded as a potential destination for investors in the construction industry, with the Asia-Pacific region becoming a major base for global economic recovery. Saudi Arabia is the largest construction market in the Middle East, while Qatar is the fastest growing construction market because preparations are under way in Qatar for the FIFA World Cup in 2022. Experts think the construction sector in the Middle East is likely to be enhanced by various infrastructure investments which, in turn, is likely to open up lucrative opportunities for translators.

For Tagalog, Japanese, Korean, Vietnamese and Chinese translation workers, a bullish construction sector in Asia, particularly in the energy sector, means growth. Among member-countries, strategic collaborations should be encouraged to stay in touch with the rapidly growing construction market worldwide. Major expansions in global construction are expected in the Asia Pacific, where various investment opportunities exist, especially in the Philippines, a major center of business and leisure in Southeast Asia.

With such a market comes a demand for various kinds of translation services. Financial and economic translations cover a wide range, from stock exchange analysis to business communication, to compulsory research, to economic surveys, to checking for compatibility. Translators in these markets are in high demand for supporting critical interactions.  However, they must know and understand economic and stock exchange mechanisms. This dual aspect of linguistic and technical competence is primarily achieved by acquiring knowledge and awareness of these markets. Accountants and analysts have gone into translations even when some documents are technically highly advanced.

Construction-in-ChinaTranslation is a specialization tool par excellence which makes systematic documentary research possible through the progressive compilation of glossaries. A bullish construction market requires specialization of the technical aspects of the market, semantic issues and terminology involved in the dealings between the provider and the client. Translation is an important step when it comes to financial communication. Other than the legal obligations, the objectives of financial communication are numerous. Translators are required to analyze the financial documents and contracts, improve assessing of the title, convince and retain institutional and individual investors, and increase the presence and reputation of the company.

The translator in such markets must present financial information through analysis, reports and press releases. The financial translations should support the aims of the principal stakeholders and convey the purpose and meaning of the interaction in a language everyone involved can understand. The unique workflow, including quality control and accountability, followed by translators ensures consistent efficiencies and successes.