ACS Process Improvement

Geneva, Switzerland

Geneva’s economy is mainly services oriented. The city has an important and old finance sector, which is specialized in private banking (managing assets of about 1 trillion USD) and financing of international trade. Geneva hosts the international headquarters of companies like JT International (JTI), Mediterranean Shipping Company, Vitol, Gunvor, Merck Serono, SITA, Société Générale de Surveillance, ST Microelectronics and Weatherford International. Many other multinational companies like Caterpillar, DuPont, and Cargill have their international headquarters in the city; Geneva LakeTake Two Interactive, Electronic Arts, INVISTA, Procter & Gamble and Oracle Corporation have their European headquarters in the city. Hewlett Packard has its Europe, Africa, and Middle East headquarters in Meyrin, near Geneva. PrivatAir has its headquarters in Meyrin, near Geneva.

There is a long tradition of watchmaking (Baume et Mercier, Charriol, Chopard, Franck Muller, Patek Philippe, Gallet, Jaeger-LeCoultre, Rolex, Universal Genève, Raymond Weil, Omega, Vacheron Constantin, Frédérique Constant, etc.). Two major international producers of flavours and fragrances, Firmenich and Givaudan, have their headquarters and main production facilities in Geneva. The private sector is organized in different Union of employers, including the Fédération des Entreprises Romandes Genève (FER Genève) and the Fédération des métiers du bâtiment (FMB). Geneva is ranked as the fourth most expensive city in the world. Geneva moved up four places from eighth place the previous year. Geneva is ranked behind Tokyo, Osaka, and Moscow at first, second, and third respectively. Geneva also beat Hong Kong, which came in at fifth place.

London, United Kingdom

London generates approximately 20 per cent of the UK’s GDP (or $446 billion); while the economy of the London metropolitan area – the largest in Europe – generates approximately 30 per cent of the UK’s GDP (or an estimated $669 billion). London is one of the pre-eminent financial centres of the world and vies with New York City as the most important location for international finance. London’s largest industry is finance, and its financial exports make it a large contributor to the UK’s balance of payments. Around 325,000 people are employed in financial services in London. London has over 480 overseas banks, more than any other city in the world. Over 85% (3.2 million) of the employed population of greater London works in the services industries. The City of London is home to the Bank of England, London Stock Exchange, and Lloyd’s of London insurance market. Over half of the UK’s top 100 listed companies (the FTSE 100) and over 100 of Europe’s 500 largest companies have their headquarters in central London. Over 70 per cent of the FTSE 100 are within London’s metropolitan area, and 75 per cent of Fortune 500 companies have offices in London.

Paris, France

The Paris Region is France’s premier centre of economic activity, and with a GDP of €607 billion (US$845 billion), it is not only the wealthiest area of France, but has one of the highest GDPs in the world, after Tokyo, New York, Los Angeles, Seoul and London making it an engine of the global economy. Were it a country, it would rank as the seventeenth-largest economy in the world, larger than the Turkish and Dutch economies and almost as large as Indonesia’s. While its population accounts for 18.8 percent of the total population of metropolitan France, its GDP accounts for 31.0 per cent of metropolitan France’s GDP. Wealth is heavily concentrated in the western suburbs of Paris, notably Neuilly-sur-Seine, one of the wealthiest areas of France. This mirrors a sharp political divide, with political conservatism being much more common towards the western edge, whilst the political spectrum lies more to the left in the east. The Parisian economy has been gradually shifting towards high-value-added service industries (finance, IT services, etc.) and high-tech manufacturing (electronics, optics, aerospace, etc.). However, in the European Green City Index, Paris was still listed as the second most”green” large city in Europe, after Berlin. While the Paris economy is largely dominated by services, it remains an important manufacturing powerhouse of Europe, especially in industrial sectors such as automobiles, aeronautics, and electronics. The Paris Region hosts the headquarters of 30 of the Fortune Global 500 companies.

Vancouver

With its location on the Pacific Rim and at the western terminus of Canada’s transcontinental highway and rail routes, Vancouver is one of the nation’s largest industrial centres. The Port of Vancouver, Canada’s largest and most diversified, does more than C$75 billion in trade with over 130 different economies annually. Port activities generate $10.5 billion in gross domestic product and $22 billion in economic output. Vancouver is also the headquarters of forest product and mining companies. In recent years, Vancouver has become an increasingly important centre for software development, biotechnology, aerospace, video game development, animation studios and a vibrant television production and film industry. Vancouver’s scenic location makes it a major tourist destination. Many visit to see the city’s gardens, Stanley Park, Queen Elizabeth Park, VanDusen Botanical Garden and the mountains, ocean, forest and parklands which surround the city. Each year over a million people pass through Vancouver on cruise ship vacations, often bound for Alaska.

Washington, DC

Washington has a growing, diversified economy with an increasing percentage of professional and business service jobs. The gross product of the Washington Metropolitan Area makes it the fourth-largest metropolitan economy in the United States. The federal government accounted for about 29% of the jobs in Washington, D.C. This is thought to immunize Washington to national economic downturns because the federal government continues operations even during recessions. Many organizations such as law firms, independent contractors (both defense and civilian), non-profit organizations, lobbying firms, trade unions, industry trade groups, and professional associations have their headquarters in or near D.C. to be close to the federal government. Tourism is Washington’s second largest industry. Approximately 18.9 million visitors contributes to the local economy every year. The District also hosts nearly 200 foreign embassies and international organizations such as the World Bank, the International Monetary Fund (IMF), the Organization of American States, the Inter-American Development Bank, and the Pan American Health Organization. The District has growing industries not directly related to government, especially in the areas of education, finance, public policy, and scientific research. Georgetown University, George Washington University, Washington Hospital Center, Children’s National Medical Center and Howard University are the top five non-government-related employers in the city. Four of the largest 500 companies in the country are also headquartered in the District.