Oftentimes, Oceania is not considered a continent because it doesn’t fulfill the definition of a continent. For a region to qualify as a continent, it needs to be a great land mass separated by water. Unfortunately, Oceania is totally the opposite of this definition as there is water in large amounts and the land is surrounded by water. Still, it is often called the continent by the majority of the people. This geographical region has very lucrative markets which make it one of the most competitive financial markets. With the help of translation, many American and Asian businesses invest in these markets. For instance, if a shipping business wants to enter Oceania, it would have to invest in Marshallese translation services. It is because, in Oceania, the Marshall Islands is famous for shipping businesses.
In this read, we are going to talk about the important role of translation in opening business opportunities in Oceania for foreign business. We will also talk about the fame Oceania has as one of the most developed markets. So let’s dig in.
Oceania – Home to Global Financial Markets
As mentioned earlier, Oceania doesn’t have the status of a continent but some critics do count it as a continent. When it comes to global markets, often the American, European, and Asian markets come to mind. Well, they surely count as global markets based on their financial and geographical status. We often neglect Oceania as we count it as a region where oceans are in great numbers. That is surely true but little do you know that this region is one of the most developed financial and lucrative markets. It is definitely a financial powerhouse, where New Zealand and Australia play big roles.
Australia is famous for natural resources such as ore, coal, and natural gas. Other than that, the land Oceania occupies is majorly in Australia and is a very fertile land. So Australia is not a major supplier of natural reserves but also an agricultural country. These reserves are listed on the second number and are easily accessible to great powers such as Japan and the United States. Other than that, the fifth largest reserves of coal are present here.
New Zealand is also famous for its agricultural exports. Just like Australia, New Zealand also occupies extremely fertile land which makes this country an agricultural one. Other than agriculture, the New Zealand Stock Exchange (NZX) offers trading options to foreign markets where they can invest and earn revenue as well as own shares.
Translation and Oceania’s Business Opportunities
New Zealand and Australia are just two countries in Oceania that offer great economic opportunities. There are several others including the Marshall Islands but one important thing we need to add here is how foreign businesses can invest in these markets. When businesses are operating outside their jurisdictions, several differences arise, for instance language and culture. And believe us these two are huge barriers your business can face in a foreign market. So to remove these two barriers, help from a professional translation company is taken. With the help of professional native translators by your side, your business gets a smooth entry into the foreign marketplace.
For instance, imagine you own a mining commodities business and want to enter Australia. Now of course English is spoken there but the dialect varies in Australian English. This is where you will need a native English translator aware of this dialect so that your business becomes native to Australian audiences.
Booming Industries in Oceania
So by far, we have established that Oceania is a highly developed and lucrative marketplace. Now let’s talk about its booming industries. In the Marshall Islands, we have the Bank of the Marshall Islands (BMI). This bank is quite famous in Oceania based on its consumer-centric policies. After the financial institutions, comes the tourism industry. After the COVID-19 pandemic, Oceania has seen a sufficient increase in tourism as it is truly one of the most beautiful regions present on the surface of the earth. There are numerous job opportunities in Australia that attract Asian audiences.
The non-renewable energy industry such as coal and natural gas offers more business opportunities to other nations. In such circumstances where big nations are trying to enter this lucrative marketplace, translation plays a helping hand in making sure not only your business gets to enter while following rules and regulations but also that target audiences find your business interesting. In order to cater to New Zealanders, you should consider Maori translation, which explains how language is important for your brand.
Final Words!
To sum up, surely Oceania is a geographical region often misunderstood as a continent. It majorly consists of water bodies where land mass is very less. It is home to one of the strongest and most developed financial markets which makes it a desirable market for foreign businesses. With the help of translation, these businesses enter countries like Australia and New Zealand.
