BERLIN – One country is enjoying the perks of Brexit. German authorities have been told that two dozen British firms are looking to relocate to Germany. This move will create around 680 new jobs, which accounts for more than the last two years combined.
The upcoming departure of Britain from the European Union on January 31st is the primary reason for this increase.
Companies have moved to Germany in order to skirt tariffs which could be imposed on British goods and services once Britain exits the EU. Other companies were attracted to favourable conditions.
With a third of these companies being from the finance and business service sectors, under a third being from IT and 40% were a mix of engineering and consumer specialists.
Germany’s weakening economy does not falter the spirit of these businesses. The country’s export-oriented manufacturing sector is in recession.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.
