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Business Business Profile For a city that seems, on the surface at least, very reliant on tourism, the tragic events of September 11 were a blow to Amsterdam. Since September, tourist numbers are down, especially from the lucrative American market, although that only tells part of the story. There is in fact a lot more to Amsterdam’s economy than tourism and economic growth in the region is still the fastest in Holland, with a growth level of at least 2.8% per annum expected until 2003. Amsterdam is an important European business centre. As a result, foreign companies are keen to have a presence in the city. Germany is The Netherlands’ biggest trading partner, with 25% of import and export trade, while other major players include Belgium, Luxembourg, France and the UK. Foreign companies are attracted by Amsterdam’s prime position within Europe, with excellent international connections from Schiphol airport and Amsterdam port, a strong infrastructure, a multilingual workforce, a stable political and economic climate and business-friendly policies. It is fitting in a city that was home to the world’s first ever public stock exchange that finance is a major part of the business world, with the financial sector employing 8% of Amsterdam’s workforce. After finance, fashion and flowers are key sectors. Of all Amsterdam’s exports, tulips are probably the most famous. In terms of exports, fresh flowers are a large market and Heineken is the largest export brewery in the world, with sales to 150 countries, although, in 1988, it closed its city centre brewery to relocate to a more practical locale. Over the last 20 years, Amsterdam has also emerged as a strong base in advanced technological industries, computing, telecommunications, biotechnology. Other major companies located in Amsterdam include ABM Amro Bank, Phillips and Shell. Unemployment levels continue to fall in Amsterdam, with 52,896 people registered unemployed in 2001 compared to 59,233 in 2000. The rate stood at 5.4% in 2000, considerably lower than the national average of 6.6%. The facilities provided for businesses in Amsterdam are extensive. The Amsterdam RAI International Exhibition & Congress Center is one of the world’s leading convention centres, located at Europaplein 8 (tel: (020) 549 1212; fax: (020) 646 4469; e-mail: mail@rai.nl; website: www.rai.nl). Business activity in Amsterdam is focused around the city centre, although also important are the port area and the new business parks on the city fringes. Commercial information is available from the Amsterdam Chamber of Commerce and Industry (tel: (020) 531 4000; fax: (020) 531 4699; e-mail:post@amsterdam.kvk.nl; website: www.kvk.nl) and from Amsterdam Promotion Foundation (website: www.amsterdampromotion.nl). Business Etiquette Business hours are Monday to Friday 0900-1700. The Dutch pride themselves on their efficient use of time, so punctuality is important. Dutch business associates should be addressed by their full name and title, and not by their first name, unless they are much younger or they have indicated that it is all right to do so. Most Dutch executives speak English, so it is not essential to have business cards translated into Dutch. However, it is important to have promotional material and instruction manuals translated into Dutch. It is a good idea for businesspeople to put the date their company was founded (if it was a long time ago) and university degree details on their card, as the Dutch respect history and education. While the Dutch wear suits for business meetings, smart-casual wear is worn on social occasions. Business lunches and appointments in the evening are rare. If invited to the home of an associate, guests should bring flowers. If given a present, it is customary to unwrap it immediately. |
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