Is Amsterdam Going to Be the New London?
Is Amsterdam going to be the new London? I hope so. Amsterdam has a very diverse population with people’s impressive grasp of the English language, good international schools, and the it is a beautiful picturesque city. Amsterdam already is a center of international commerce, has one of the best European airports, and has a very good rail network. A strong strategy would be to focus on Amsterdam strengths: fintech, its reputable clearing houses and high-frequency trading. Companies in London won’t massively migrate to Amsterdam but there is a big chance for the Dutch to grab a significant slice of the pie.
Nevertheless, Brexit will impact the Dutch economy, since UK trade is the 3rd largest market after Germany and Belgium. The Netherlands Bureau for Economic Policy Analysis has calculated the impact of Brexit on the Dutch economy: The loss could total 1.2% of GDP by 2030. This is equal to 10 billion euros. Less trade may also mean less innovation in various sectors of the economy. On the other side, there are also opportunities. Because of Brexit, the European Medicines Agency (EMA) will relocate in May 2019 from London to Amsterdam. This means more people will visit and spend money in the Netherlands. #brexit #amsterdam #competiveness #fintech