Impact of dollar collapse on translation market
Thread poster: Clive Wilshin
Clive Wilshin  Identity Verified
Local time: 19:25
Russian to English
+ ...
May 24, 2005

I need to research this topic as part of the business plan I am writing before restarting my translation business.

I am interested in hearing from translators based in Europe on the impact that the dollar's decline has had on their business, if any.

Thanks for your responses in advance.


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Charlotte Blank  Identity Verified
Local time: 20:25
Czech to German
+ ...
One third less... May 24, 2005

Hi Clive,

my first translation job here in the Czech Republic was based on dollars (it was an American company), meaning that I knew how much it was in dollars but was payed in Czech crowns - never knowing before how much it would be exactly. This is a few years ago and meanwhile the dollar has gone down quite a lot so I was very lucky to have gotten rid of that job. If I were payed the same dollar-amount in crowns now it would be about one third less

Charlotte


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jmadsen  Identity Verified
Local time: 20:25
No jobs from US clients May 24, 2005

I chose to raise my rates as the dollar fell, but that means that I am getting virtually no jobs from my American or Canadian clients at the moment. US based translators needn't lower their rates, so I can't compete with them on price.

Jørgen


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Gillian Searl  Identity Verified
United Kingdom
Local time: 19:25
Member (2004)
German to English
I never did much work from the US anyway May 24, 2005

but I am sure that the dollar exchange rate is the reason why I haven't done any work at all for US companies in months.

On the other hand if I need to outsource some then I try to send it to the states because it's cheaper for me and I can change it back to British if I need to.

Has it reduced my workload because European-based people are sending work to the states instead of giving it to me? I don't think so but it's hard to tell.

Overall, I guess you have to go with the flow - one day the situation will reverse again ...

Gillian


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Clive Wilshin  Identity Verified
Local time: 19:25
Russian to English
+ ...
TOPIC STARTER
Thanks May 24, 2005

Thank you for these responses. One thing that I notice right away is that it is impossible to make a competitive bid for any of the jobs posted on proz.com now.

When I worked for the U.S. government in the 90s, the dollar exchange rate was always around 1:0.67 with little fluctuation. Today it is 1: 0.547. It would cost my old employer a lot more to employ me today.


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Impact of dollar collapse on translation market

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