Benefits to Hull & Humber

Locating the World Trade Centre at Humber Quays will act as a catalyst to develop other high quality business facilities such as quality hotel space, conference facilities and business clubs. 83% of local businesses surveyed concurred that a World Trade Centre would release demand for international conference, hotel and other new facilities.

Research from the World Trade Centre Association highlights that 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.  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, which is a key area where a World Trade Centre facility can help.

Based on its case study analyses, Johnson Consulting on behalf of WTCA has identified five basic advantages which a World Trade Centre licence provides for investors and their community marketplaces.

Brand naming rights

World Trade Centres, like convention centres or arenas, become recognisable public assembly points. The name itself tends to increase the volume of visitors involved in global business services.

Concentration of International Services

Governments as well as private sector firms frequently endorse World Trade Centre projects, and use the facility to concentrate and consolidate agencies and services. This enhances the value of the facilities by making it easier for both tenants and their clients to conduct ‘one-stop-shopping’ global businesses at World Trade Centres.

Real Estate Premiums

In cases where facilities have been developed, the World Trade Centre name usually enhances both rental rates and occupancy levels. In many cases the facilities outperform the market as a whole, and in all instances, World Trade Centres are among the highest identity projects in the local marketplace. This includes office, retail and hotel space.

Redevelopment Impact

Because of scale or government sponsorship, or both, World Trade Centres in most cases dramatically increase the value of adjacent real estate – especially in areas where the World Trade Centres have acted as urban pioneers.

Economic Impact

Many World Trade Centre projects include hotels, conference and exhibition facilities, which attract out-of-town business clientele. These visitors introduce new spending, which results in a positive fiscal impact on the host community.

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