System and method of localizing assets using text substitutions

A system and method for translating a phrase for video game development for games to be made available in a plurality of natural languages is disclosed. The method includes determining that code for a video game being developed has been created or modified. The method further includes inspecting the code to determine whether a phrase to be displayed or to be spoken during game play is present therein, wherein the phrase comprises a plurality of words. The method further includes comparing the entire phrase to a collection of phrases for which one or more translations to another natural language are already available, and if an exact match is determined, then reusing the one or more available translations for one or more corresponding languages.