I guess that was not unexpected. This could level the playing fields a bit for other big capitals like Amsterdam, Paris, Frankfurt and maybe even Brussels.
a report by several City organizations said that Brexit was making it harder and more expensive to hire foreign staff. International workers, mostly from the European Union, make up about a fifth of the 1.1 million people in U.K. financial services.
Can’t help but see similarities with Singapore, where new visa requirements and strict rules meant countless expats could not renew their visas and were forced to leave Singapore. The atmosphere is generally more hostile than pre-Covid, and coming in is exponentially harder.
Companies are actively moving headcount, relocating entire teams. There’s a clear brain drain happening, and that may be hard to fix in the short term.
I can only be hopeful this is the golden age for Europe, as a lot of talent returns home. Hopefully, Europe can tap in all that talent, and use it wisely.