| | Must Visits | Need to Know | Capital City Amsterdam | | Tipping Not mandatory | | Electricity 220 V | | Weights and Measurements Metric system |
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Economy
Netherlands has a healthy and open economy that is largely dependent on foreign trade and recorded a GDP of $670 billion in 2008, and an annual growth rate in real currency of 1.8 %.
After the end of colonial trade in the 1940s, the Dutch established a diversified manufacturing base. As expected of the prosperous West European economy, service (trade and finance) takes up 70% of the Dutch GDP, followed by manufacturing at 27% and construction at 3%. The job growth reached a ten year high in 2007 but the economy suffered a sharp drop in 2008 as a result of the world financial crisis.
Some facts:
GDP: $670.2 billion (2008 est.)
GDP per head: $40,300 (2008 est.)
Annual growth rate: 1.8% (2008 est.)
Inflation: 1.5% (2008 est.)
Major industries: natural gas, petroleum, agricultural, fishing produce, tobacco and beverages, machinery and chemicals etc
Major trading partners: Germany, Belgium, USA, UK, France and Italy.
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Currency
On the 1st of January 2002, the Netherlands switched to the Euro. The Euro is divided into a 100 cents. Currency bills are available in denominations of 5, 10, 20, 50, 100, 200 and 500 and in coins of EUR 1, 2, and 5, 10, 20 and 50 cents.
The economy being prosperous, prices are generally typical of those in north and Western Europe. Amsterdam and The Hague are the costliest places to stay. Lodging in the city is about 15-20 % steeper in cost than staying in the countryside.
Banks are open Mondays through Fridays, 9am to 4pm. Some may also be open on Thursdays 6pm to 8pm. Money changing can be done at Amsterdam airport itself, or at post offices.
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Business Guide
The Dutch were never known to be fashion rebels, so dress conservatively at business meetings; men in jackets and women in tailored suits. Casual dressing is slowly making its way into the corporate workplace, but business suits are still the norm than the alternative.
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