I had seen that "CNN Money" had begun the conversation as to which cities within Europe are most ready to fill the "big Brexit-shaped hole emerging in London" back on June 28 when they posted the article "7 cities that could steal business from London."
Britain's vote to leave the European Union rocked the global financial markets and tanked the pound. One of the main concerns is the future of London as the financial and tech capital of Europe.
Many global companies said they might have to move some of their operations away from the British capital to protect their EU status. Some even said that they could move between 10-40% of their London-based workforce.
And cities are already lining up to welcome them. This article from our partner, Relocation Services Holland, suggests that Amsterdam is the leading candidate, while others like Frankfurt, Luxembourg, Paris and Dublin are also front-runners.
Some reasons why Amsterdam leads the pack:
* 90% of the Dutch speak English
* schools are ranked the best in Europe
* offers a great lifestyle (picturesque, excellent restaurants, music, theatre, night life)
* and has a tolerant attitude cultivated over centuries as a major global trading center
I spoke this week to several high-ranking executives at major financial institutions that collectively employ tens of thousands in London. While none of them have any immediate plans to move their European headquarters from Britain’s capital, all agreed they would eventually shift a significant number of highly paid employees to cities that remain in the European Union. One executive in charge of relocation (who like the others, spoke only on condition of anonymity because of the political sensitivity of the issue) said the percentage of employees in his firm who might be required to move ranged from 10 percent to 40 percent. “Multiply that throughout the industry and it’s tens of thousands of people and their families,” he said. “And bear in mind that most of these people are millionaires.”