The Brexit Winners: Dublin, Berlin, Frankfurt, Inbound Tourists and British Universities

A look at the winners following an UK exit from the European Union reveals the UK finance and tech sectors are at risk of bleeding talent to the likes of Dublin and Berlin, but it is not all doom-and-gloom for the UK with the tourism industry and educational sector standing to gain from a weaker Pound.

Research conducted by ABCD AGENCY, a performance PR agency with clients in the United Kingdom and a focus on the European market, has revealed the potential winners of a UK split from Europe.

Amid turmoil in the financial and housing markets, harshness from Brussels to London and the threat of a divided United Kingdom, the research team uncovered some interesting potential winners from the outcome of the vote.

Below are the seven sectors which could benefit the most from the British public’s decision to break ties with the European Union. Those who position themselves wisely in any of these sectors could emerge as winners.

Of course all these predictions are made before negotiations have even started; the landscape will likely be very different in two years time when the actual exit takes place.

1. European Financial Hubs: Dublin, Paris, Frankfurt

The UK leaving the single market will have numerous financial, legal and bureaucratic ramifications for the financial sector of London.

Many banks have already began preparing to relocate to other cities on the continent, with experts speculating that cities such as Frankfurt, Paris and Dublin will benefit the most from London’s exit from the EU.

Frankfurt Main Finance expects their home city to win big out of Brexit. The central German city, which is home to the headquarters of the European Central Bank, could become a magnet for companies in the financial service industry. Experts anticipate that within the next 5 years there may be over 10,000 finance employees migrating from London to Frankfurt.

“The economic and political stability in Germany, combined with access to a highly qualified talent pool make Frankfurt am Main a leading choice in location,” commented Dr. Wolfgang Dörner, Senior Partner and Director of Boston Consulting Group’s Frankfurt office. BCG’s survey taken in June 2016 prior to the results of the referendum, showed the Financial Centre to be leading the race to be the next home for the European Banking Authority.

HSBC has claimed that it would like to start moving 1,000 traders from London to Paris, however they have said they will wait until the final moment to implement such changes. Other reports are emerging suggesting Dublin as the European city of choice for the finance sector, particularly as it will become the only remaining English speaking capital city within the EU.

However, Mohamed El-Erian, the famed former boss at PIMCO and now Chief Economist at Allianz, said London, which major U.S. and British banks use as a platform to sell into Europe, would remain the second global financial centre after New York despite Brexit.

Despite stiffer competition from Frankfurt, Paris, Dublin and Amsterdam, "no one will reach critical mass to challenge London’s overall European dominance".