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City Guide - Washington, DC - Business | ||
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Business Business Profile: Washington, DC's premier industry is federal government, with all the major departments located in the city, such as the Department of State, the Treasury, the IRS, the Department of Justice and the US Supreme Court - all located at the heart of the city. The main business district is an area bordered by Pennsylvania, New Hampshire, Massachusetts and New York Avenues but other areas of the city are beginning to attract corporate business. The city's next most important industry is tourism and around 20 million visitors arrive each year to explore the wealth of free museums and attractions. Many countries of the world have their embassies in the city so it is also the centre for visiting diplomats and has the fourth largest concentration of hotel rooms in the country. Many other associations have their base here, such as 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, World Bank and the International Monetary Fund (IMF). It is also home to political groupings, such as the Organisation of American States (OAS). The last few years of the 1990s saw an increase in the number of private sector jobs in the city whereas federal and local government employment was decreasing. Now, 'Uncle Sam' accounts for less than 20% of the region's total workforce. The opening of the MCI Center (a 20,000-seater sports and entertainment arena) at the end of 1997 has helped to transform the city and there has been an economic resurgence with a downtown revival, including new restaurants, shops and offices. 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 attracting a steady stream of visitors. However, unemployment is still high, although the rate is slowly coming down - in 1999, the unemployment rate for the whole of the District of Columbia was 6.3%, compared to the national average of 4.2%, and in 2000, it was 5.8% compared to 4.0%. Business Etiquette: Generally, American businesspeople are more informal in their work attire than Europeans but 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 allow employees to wear smart-casual clothes to work (no jeans). 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 large luncheon meetings. Business dinners tend to take place in restaurants rather than at home. After work drinking takes place regularly because of the large number of bars, particularly around Dupont Circle, which have happy hours until 1900. The use of business cards is commonplace. Business hours are generally Monday to Friday 0900-1730 but in reality working hours are often much longer. |