Attracting business from London after Brexit - Can Paris, Dublin, Frankfurt or Amsterdam become Europe’s new financial center?
Attracting business from London after Brexit - Can Paris, Dublin, Frankfurt or Amsterdam become Europe’s new financial center? is an analytical report by GlobalData that assesses and compares the ability of four European cities (Paris, Dublin, Frankfurt and Amsterdam) to attract business, particularly financial services, out of London in the wake of the Brexit vote. The report offers detailed comparison of the cities' economies, business environments and infrastructure among other important aspects businesses would take into consideration when looking to relocate.
The effect of Brexit on London’s economy is currently ambiguous and uncertain, but European cities have publically and privately made strenuous effort to attract business from the city in the hope firms will choose to relocate once the UK leaves the EU. Each city competing to attract jobs and business from London offers its own unique advantages, however London remains ahead of other European cities in every aspect. Consequently, London is unlikely to lose its status as the financial capital of Europe, the scale of relocation will depend on the terms the government can negotiate and the overall effect on London’s economy.
Paris’ economy was 86% the size of London’s in 2016 and 40% of the French capitals Gross Value Added consists of financial intermediation and real estate, making Paris the only city which can compete with London in terms of economic output.
Paris is the only city which could feasibly accommodate an influx of firms and surge in demand for office space, with 10.8 million square feet of office space available for immediate use.
Meanwhile, Dublin offers the most favorable business environment, with lax regulatory and labor laws similar to the UK’s, a highly educated workforce and it being the only other English speaking city within the EU (the international business language).
Reasons to buy
This report will prove useful to understand the potential impact of Brexit on certain cities economies.
Brexit is an unprecedented political and economic upheaval soon to occur, with widespread implications for both the UK and EU economy.
As a widely discussed and debated topic this makes it difficult to plan business decisions in the face of high levels of uncertainty.
This report offers an analysis of the implications using facts and data to allow for a better understanding of the potential economic impact on London and other European cities.