Brexit has a stronger impact on the UK financial sector than previously thought

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Research conducted by New Financial showed a stronger than expected negative impact of Brexit on the UK financial sector. According to his estimates, London has already been affected the most in this regard, which will only get worse in the future. Experts expect a decline in revenues from the financial sector and a reduction in the export of financial services to the European Union. The assets of 275 financial companies leaving the UK amount to 1 trillion 200 billion dollars. Their relocation costs range from approximately 3 billion to 4 billion dollars. In the near future, about 5,000 workers will be transferred to work in cities outside of Britain. Their number will increase further. According to the calculations, about 100 financial sector companies will leave for Dublin. Cities like Luxembourg, Paris, Frankfurt am Main and Amsterdam are also attractive for relocation.

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