Germany Top Relocation Destination After Brexit

Global investors with operations in the U.K. looking to relocate have identified Germany as the top destination following Britain’s decision to leave the European Union, according to the latest EY study.

Brexit has caused global investors to reassess their assets in the U.K., with 14 percent of foreign investors with a presence in the U.K. saying they now plan to change or relocate some of their European operations in the next three years should the U.K. leave the single market.

Germany was identified as the preferred destination for those investors moving out of the U.K. (54 percent), followed by the Netherlands (33 percent) and France (8 percent).

Already, seven in ten foreign investors say they have been impacted by Brexit, particularly with regards to operating margins, purchase costs and sales.

The financial services industry has been one of the hardest hit by the vote and remains the least optimistic about the outlook ahead. Just 12 percent say they anticipate strong growth while 6 percent are expecting to “slightly reduce” their existing presence in the region.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza