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| Home > City Guide - Washington, DC - Business | ||
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Business Business Profile Federal government departments, such as the Department of State, the Treasury, the IRS, the Department of Justice and the US Supreme Court, make the federal government Washington, DC’s premier industry. Although Pennsylvania, New Hampshire, Massachusetts and New York avenues border the main business district, other areas of the city are beginning to attract corporate business. The city’s next most important industry is tourism. Within the DC area is the fourth largest concentration of hotel rooms in the USA. Approximately 20 million visitors arrive each year, to explore the wealth of free museums and attractions in the city. Because it is the nation’s capital, it is a centre for embassies and visiting diplomats, as well as a hub of operations for political groupings such as the Organisation of American States (OAS), trade, law, higher education (there are six major universities in Washington), publishing, medical research and government-related research. The city has also attracted the headquarters of organisations such as Marriott, Amtrak, Mobil Oil, MCI Telecommunications, Gannett News, US Airways, the World Bank and International Monetary Fund (IMF). The late 1990s saw an increase in the number of private sector jobs in the city, whereas federal and local government employment decreased. Now, ‘Uncle Sam’ accounts for less than 20% of the region’s total workforce. The success of the MCI Center (a 20,000-seater sports and entertainment arena) and an economic resurgence with a Downtown revival, including new restaurants, shops and offices, has helped to revitalise the city. The completion of the Washington Convention Center, at Mount Vernon Square in 2003, is expected to have the same impact on the immediate area, with new hotels and restaurants already attracting a steady stream of visitors. Mayor Williams also has instituted an action plan to guide DC from economic uncertainty to financial stability through tourism, business and assistance for the unemployed. As of September 2002, the unemployment rate stood at 3.5%, which is low compared to the national average of 5.4%. Business Etiquette Generally, American businesspeople are more informal in their work attire than Europeans are, although in Washington, DC, men always wear suits and women stylish and conservative business attire. National and international organisations tend to be more formal, although smaller companies now operate a smart-casual clothes policy (no jeans). Although working hours are often much longer, business hours are generally Monday to Friday 0900-1730. Appointments for meetings should be made and punctuality is expected. It is quite common for meetings to be held over lunch, although the prohibitive cost of eating out in the city at traditional business venues means that some companies bring in outside caterers to the office for important, large-scale lunch meetings. Business dinners tend to take place in restaurants rather than at home. Cocktails after work are commonplace. There are a large number of bars, particularly around Dupont Circle, which have happy hours until 1900. The use of business cards is routine. |
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