LONDON- The Brexit move has meant that some breadwinners are packing their stuff to move for better opportunities, naturally their families are moving with them.
This has been shown in the latest figures, which show that international enrollment into UK top schools has dropped after the 2016 referendum, while across the UK, schools catering to expats is seeing a surge in applications.
Nicholas Tonkes, a consultant at Oliver Wyman who’s studied the topic said, “Social infrastructure has been treated as a secondary consideration in Brexit, and for most people it’s actually the first,”
“That shoe is beginning to drop.”
There is a growing uncertainty in many industries, as Brexit deadline looms ever nearer, Mary Langford,, director of admissions at London’s Dwight School said, “Brexit has definitely affected enrollment,”
“There is a lot of uncertainty for many industries, and I don’t think families are coming to London in the same waves.”
The exodus from Britain’s schools has led to an increase in demand in Frankfurt, Paris and Amsterdam.
Big economic banks such as Goldman Sachs Group Inc and Morgan Stanley have lined up school places in Frankfurt before moving employees to the German financial capital, according to two people with knowledge of the situation who asked not to be identified because the plans are private.
A source close to the issue, Bloomberg reported that other banks, including JPMorgan Chase & Co, are looking at doing the same.
Spokesperson for the New York-based lenders declined to comment.
Photo Credit- Bloomberg
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