Press Release: EU language industry set to ride out the crisis

The language industry has been less affected by the economic crisis than other sectors, according to a study carried out for the European Commission. The study, the first to analyse the size of the language industry EU-wide, covers translation, interpreting, localising and globalising, subtitling and dubbing, language technology tools, multilingual conference organisation and language teaching. It puts EU-wide turnover at €8.4 billion (2008). This is set to increase by at least 10 % annually, over the next few years, to between €16.5 billion and €20 billion by 2015. This is one of the highest growth rates in EU industry.