The ECONOMIC IMPACT of World Trade Centers
The statistics below and the summaries on the adjacent pages describing the experiences of the WTCs in Miami, Taipei, St. Louis, Montreal, and Sao Paulo were extracted from a comprehensive 2003 study by RA Leach & Associates, Inc, in conjunction with A. Ilan Consulting.
International trade has been growing rapidly in recent decades. From 1980 to 2000, global exports rose at an average rate of more than 6 percent annually, nearly twice the growth rate of world production. Today, world trade is valued at more than US$6 trillion dollars. While trade barriers and transportation costs are falling, however, entry into global trade for any individual firm remains a complex matter requiring a wide range of services, leads and skills. This is especially true for small and mid-sized companies.
The World Trade Centers Association (WTCA) is a worldwide organization, with headquarters in New York, formed for the purpose of enhancing this trade. It has the exclusive worldwide right to license the use of the name World Trade Center for, typically, one entity per economic region. The WTCA achieves its mission by offering a great variety of services that help companies engage in international trade and investment. There are currently approximately 300 licensed World Trade Centers in 92 countries around the globe.
When a WTC is developed, the services it provides generate economic growth through increased trade activities, new jobs, a larger tax base, and via the attraction and retention of businesses. Such services include trade information and market research, trade shows and exhibit space, group trade missions, trade education services and business services.
SERVICES for Clients / Members / Communities
Each WTC offers its members services that are reciprocal and can be accessed at all operating WTCs around the world. WTCs offer state-of-the-art business support services, ranging from temporary office space to online data access and video conferencing. The value-added services which generate the most economic growth include:
Trade Strategies and Market Positioning
WTCs provide community leadership and trade strategies for the promotion of trade in their cities and regions. WTC Miami has created a strategy that has helped position Miami-Dad County as the recognized Trade and Logistics Capital of the Americas, producing $4 billion in sales and sustaining 5,000 jobs over the last five years.
WTCs help organize and take part in outbound missions to explore new markets and receive incoming business groups. WTC Taipei generated $1.69 billion in 2002 sales as a result of such missions.
Trade Information & Market Research
WTCs provide current information on products and services in their respective regions; perform customized trade research; and offer contacts, leads and referrals. WTC St. Louis has provided international market research to more than 2,000 companies since 1993.
Trade Education Services
WTCs offer practical international trade courses about key local and global business issues, with seminars, workshops, counseling, training and speaker programs. WTC Montreal has trained more than 3,000 individuals in trade-related programs.
Trade Shows and Exhibitions
WTCs take a leading role in hosting trade-oriented events, and have year-round display space for local products and services. WTC Sao Paulo hosts an average of 750 events annually, attracting more than 100,000 visitors.
Learn More About How WTDGI Can Assist You