Hamburg, 7 September 2017
tolingo GmbH, with its headquarters in Hamburg and a branch office in Stuttgart, has been listed as one of the 100 largest translation service providers in the world for the second year in a row. The American market research institute Common Sense Advisory (CSA) has confirmed this in its current study “Language Services Market: 2017”. In the overall results, tolingo was listed at number 80, 8 places higher than last year. In the rankings for Western Europe, tolingo came in at number 19 after climbing 4 places.
“We are very pleased to have moved up 8 places within one year according to this year’s CSA study,” says Managing Director, Jens Völkel. “We are very proud to be ranked at number 19 in Western Europe, meaning we are among the top 20 translation agencies,” adds Managing Director, John Waack. “The result confirms that we have the correct approach: continuous growth thanks to high quality standards and extensive client consultation.”
The translation sector is continuing to grow: In 2017, the translation and interpreting services sector is expected to generate a total revenue of around 43 billion US dollars. This corresponds to growth of almost 7 % in comparison with the previous year. According to the CSA study, this amount of revenue is expected to increase even further in years to come.
The rankings were calculated on the basis of the number of employees and business locations, but mainly by comparing the annual revenue and rates of growth of the respective companies.