The wine industry is undergoing a profound transformation. Globalization, technological advances and environmental concerns are all exerting a profound influence on how wine is produced and consumed. The international appetite for wine has grown, spurred in large part by increased consumption in emerging markets such as China. Meanwhile, tastes in Western countries are also evolving, with consumers increasingly searching for more complex, more daring, wines. Traditional wine-producers such as France and Italy must now compete with wineries in South Africa, Australia and the Americas. These are but a few of the factors that are transforming the wine industry today. Welcome to the changing world of wine.
My name is Luke Deraiche and I am in the process of obtaining a Master of Translation Studies at Concordia University. The creation of this blog is part of the course FTRA 611 “Terminologie et mondialisation” under the supervision of Dr. Philippe Caignon. The overarching theme of our class is “La nouvelle économie” or “The new economy”. I currently work at a wine bar called “Vino Volo” at the Montréal airport and so I decided to combine my interest in wine and the wine industry with the creation of definitions and terms that is the main focus of the class. Wine is both a staple and a luxury good and so it can provide some interesting insights into the changes taking place in the world economy.
“The new economy” is a reference to the dizzying transformations taking place in economic life around the globe as a result of advances and changes in technology, communications, and transportation. Globalization, migration and and increased mechanization are all changing the world economy beyond recognition. Creativity and knowledge are now more valued than ever in this new economic environment. As both a staple and a luxury good, wine can provide some interesting insights into the changes taking place in the world economy.