Economic news

Frankfurt might substitute London after UK leaves EU

Frankfurt might take over London’s role after Brexit and turn into a reduced model of London, as said by the city administration, following a research that showed huge amount of jobs would be generated, which would strengthen German banks.

This data is the first attempt to fully estimate probable job generation in Frankfurt, while London, the leading competitor, is getting ready to head out of the European Union.

According to the research, in 4 years Frankfurt will have 10,000 banking and finance workers, which in its turn would lead to over 40,000 other jobs, including taxi drivers and builders.

Frankfurt Economic Development’s CEO Oliver Schwebel says that Frankfurt is not London’s City but it has a chance of becoming a little London.

UK’s decision to break free from the EU has made London-based banks and investors seek for other places within the Union to retain connection, which would allow them to trade around Europe with no extra costs or trade barriers.

Among the most suitable cities Frankfurt and Dublin come first and the former city’s international schools are receiving a barrage of calls as massive shift is anticipated.

To leave a comment you must or Join us

More news

Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree