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The phrase "a privilege for both" is correct and usable in written English.
It can be used to express that something is beneficial or advantageous to two parties involved in a situation.
Example: "The partnership between the two companies has proven to be a privilege for both, enhancing their market reach and innovation."
Alternatives: "a benefit for both" or "an advantage for both".
Exact(1)
A privilege, for both them and us.
Similar(59)
It has been both an honour and a privilege for me as a scientist to accept this challenge.
My mom just made it past 50, making the later decades both a mystery and a privilege for me.
Is play just a privilege for adults?
It's a privilege for me to encounter that".
It is a privilege for which a listed company may no longer qualify.
It's been a privilege for me to do this.
It's a privilege for me to coach.
It was more of an honor and a privilege for me.
"Transplants," he said at the time, "should not be a privilege for the rich".
"What a privilege for me to be able to train with him every day," Ervin said.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com