Amsterdam, Netherlands Hotels and City Guide

Amsterdam - Business Tips

Business Travel Advice

Economy

Amsterdam is the financial and business capital of the Netherlands. Amsterdam is currently one of the best cities in Europe to locate an international business in. It is ranked fifth in this category and is only surpassed by London, Paris, Frankfurt and Barcelona. Many large Dutch corporations and banks have their headquarters in Amsterdam, including ABN AMRO, Akzo Nobel, Heineken International, ING Group, Ahold, TomTom, Delta Lloyd Group and Philips. KPMG International's global headquarters is located in nearby Amstelveen.

Though many small offices are still located on the old canals, companies are increasingly relocating outside the city centre. The Zuidas (English: South Axis) is the new financial and legal hub. The five largest law firms of the

Netherlands and Dutch subsidiaries of large consulting firms like Boston Consulting Group and Accenture have their offices here. The World Trade Center Amsterdam stands here.
There are also three other smaller financial districts in Amsterdam. The first one is the area surrounding Amsterdam Sloterdijk railway station. A lot of newspapers like De Telegraaf have their offices here. Also Gemeente Vervoersbedrijf and the Dutch tax offices are located there. The second other financial district is the area surrounding Amsterdam Arena. Last the area surrounding Amsterdam Amstel railway station. The highest building in Amsterdam (Rembrandttoren) is situated there and it is the location of the headquarters of Philips.
The Amsterdam Stock Exchange (AEX), nowadays part of Euronext, is the world's oldest stock exchange and is one of Europe's largest bourses. It is situated near Dam Square in the city's centre.
Major companies with a presence in Amsterdam include ABN Amro , Phillips and Shell, with IBM, Sony and Canon all having their European headquarters in the city. 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 approximately 8% of Amsterdam’s workforce and some 70 banks having a presence in the city. 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. Over the last 20 years, Amsterdam has also emerged as a strong base in advanced technological industries, computing, telecommunications and biotechnology.

Etiquette

Amsterdam Dress Code

Generally, smart casual is recommended for all forms of social engagement in Amsterdam as even the more expensive restaurants in the city tend to be without a formal dress code and will admit the casually attired without any fuss. For business, however, both men and women are expected to wear suits.

Greeting Someone in Amsterdam

As a general rule, the accepted form of greeting is the handshake. In business, the Dutch tend to expect you to address them by their titles and last names, unless they invite you to do otherwise. Outside business, people are less formal and usually address each other by their first names.

Amsterdam Business Hours and Banking

As with all major cities, Amsterdam's business hours vary from one industry and sector to another but in general, most office environments operate between 09:00 and 17:30, Monday to Friday. The majority of banks are open between 09:00 and 16:00, Monday to Friday. Some of the larger banks will probably also be open on Saturday mornings.

Amsterdam Smoking

The Dutch are proud of their country and its progressive ideas and legislation. For centuries, Amsterdam has provided refuge for persecuted minorities, and tolerance is a national characteristic. Therefore, unlike many other cities in Europe, smoking is prevalent in Amsterdam with very few non-smoking areas, even in cafes and restaurants.

Amsterdam these days is as bustling and economically productive as it was during its golden age when its ships sailed to all corners of the Dutch Empire. The Dutch capital likes to see itself as being at the heart of Europe, and its location does give it easy access to a number of major European markets. European Cities Monitor recognised the Dutch capital as one of the top five business locations in Europe in 2002 and things have remained upbeat with mayor Job Cohen steering an increasingly steady ship.

There is no underplaying how important tourism is to Amsterdam and both September 11 and the war in Iraq did have an effect on numbers, particularly the lucrative North American market, though the situation has recovered strongly of late. Unemployment levels have dropped slightly in Amsterdam recently, with city-wide unemployment running at a rate of 5.5% by the end of 2004, lower than the national average of 6.7%.
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. On average, approximately 70-100 foreign companies set up in the Netherlands every year. They are attracted by Amsterdam’s prime position within Europe, with excellent international connections from the ever-expanding Schiphol airport and Amsterdam port, a strong infrastructure, a multilingual workforce, a stable political and economic climate and business-friendly policies.
The facilities provided for businesses in Amsterdam are extensive. The Amsterdam RAI International Exhibition & Congress Center, Europaplein 8 (tel: (020) 549 1212; fax: (020) 646 4469), is one of the country’s largest and one of the world’s leading convention centres. Business activity in Amsterdam is largely 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 4568; fax: (020) 531 4699) and from Amsterdam Promotion Foundation. Internet cafes dot the city and increasingly many four and five star hotels are starting to offer wi-fi connections.

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 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 visiting businesspeople to put the date their company was founded (if it was a long time ago) and university degree details on their cards, 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.

Hotels in Amsterdam, Netherlands