Competitiveness in the Language Service Industry in Colombia and Spain

Abstract

Enterprises in the Colombian language service industry require, as in all trades, increasing competitiveness to stay in the market and grow. In a rapid changing business environment, companies must increase their competitive advantages and/or implement them if they want to stay active and be sustainable. This chapter analyzes the current situation of the Colombian language service industry and benchmarks it against the same business in Spain, a country with a modest yet more robust sector within the Spanish-speaking world. It further discusses some strategies that Colombian language service providers at large could adopt to increase productivity. Since the language service industry is rapidly growing across the world, Colombia needs also to stay ahead in aspects that make it grow. Market trends, the use of updated technology, proper training of professionals, and some other related aspects are likewise scrutinized. A proposal for an in-depth quantitative research is also outlined.