The Russian MICE services industry: Expert's view
On factors determining the final prices of professional interpretation services
The final price of professional interpretation (oral translation) services depends on the quality and level of professionalism of the interpreter. The higher the level, the more expensive the final price.
On shortage of highly qualified personnel in the industry
Yes, such problems exist and are very acute. Unfortunately, at present, there is a stark deficit of highly qualified translators/interpreters. This trend, in my opinion, stems, first and foremost, from the lack of higher educational institutions that can prepare professional translators/interpreters. This is why this demand for this specialty will continue to rise, and consequently, driving the prices for these services higher and higher in the non-too-distant future.
On characteristics of a typical consumer of professional interpretation services
I wouldn’t talk about a typical consumer as such, because, here, the main issue, in my opinion, is do consumers really understand what a highly qualified translator/interpreter means, and consequently, the real value of his/her services.
On your company’s market position and future plans
With respect to our company’s position in this industry, I would say that we occupy a very stable, or even a leading position on the Russian translation/interpretation services market. Besides, our growth perspectives are very good, as they are founded on professionalism, highest-quality level of services and striving for continuous improvement. This is why we, despite the high level of competition in our industry, are confident that we can retain our market share in the future.
On your prognosis for the industry, given the current crisis
We believe that the current situation in the economy will soon improve. This is evident from the level of the ongoing discussions, negotiations and exchange of information/opinions/views regarding the different variant of exit strategies from the current economic downturn. It is clear that translation is always complementary to exchange of information. This is why it is correct to a certain degree to say that the translations services market is a barometer that indicates that things are changing for the better.
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