Now is the time for businesses to exploit the rising number of ‘Brexpats’
Data from Movehub shows that expats from top EU countries have been flocking back to the UK since the referendum result last June...
With this week’s Queen’s Speech focused heavily around Brexit and “securing the best deal for Britain”, new research has circulated which shows Britain’s upcoming exit from the EU is having a seismic impact on the UK and its workforce.
Movehub’s Global Moving Trends report suggests British expatriates, dubbed ‘Brexpats’, have been returning to the UK from popular EU countries such as Germany and Spain in their droves before Brexit unfolds – avoiding the uncertainty that their future non-EU expat status brings.
The report – which analysed data from over 350,000 enquiries from April 1 2016 to April 2017 – highlighted news that, after the EU referendum in June 2016, the number of expats wanting to move to Britain from Spain and Germany jumped by a staggering 108% and 157% respectively.
While from June 2016 to July 2016 there was found to be a 169% increase in the overall number of people wanting to move back to the UK following the referendum result.
What’s more, the research found that European nationals are are also opting to come to Britain before the EU legislation changes post-Brexit. In fact, the report highlighted that the UK was the most popular destination of 30 countries, ranking more popular than France, the USA, Australia and Canada.
So what does this mean for start-ups and small businesses? To put it simply, greater access to talent.
With more Brits returning to the UK, this increases the available workforce for businesses and, while Brexit is putting a strain on international relations for businesses that trade with EU countries, the upside is that there will be more people looking for work in-country.
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For businesses in London, there’s more good news as the report indicated that the UK capital was found to be the most popular city for Movehub customers to relocate to. The report suggested: “In the face of Brexit, London remains a microcosm of the world, with people from all over the globe sharing a city whose multiculturalism is central to its much celebrated vibrancy and global appeal.”
Reflecting on the findings, Ben Tyrell, head of Movehub, commented:
“In a year that has delivered more international discord and uncertainty than ever before it is perhaps surprising that the appetite for international relocations has far from dwindled – in fact 2016 proved to be one of the most popular years for international moves.”
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