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Why is there so much variation in professional translation rates?

Elite AsiaRates and ConditionsWhy is there so much variation in professional translation rates?
17 June 2019 Posted by Elite Asia Rates and Conditions

Each translation company has its own strengths and weaknesses, and their sizes may vary. Other factors which may affect the pricing include the educational qualifications and work experience of the translators, the country of residence of the translators, whether the translator is aware of computer-aided tools which can improve the accuracy of their translations, whether technical knowledge is required for the translation, whether proofreading is included in the package, and the number of translators involved in your project. Verifying these things with your translation company would ensure that you would not be surprised by additional costs at the end of your project.