22 March 2017
Uncertainty over the United Kingdom’s decision to leave the European Union is making British businesses more open to overseas expansion, with Dubai ranking highly among the international locations being considered, according to a new survey.
Research released by the Dubai Multi Commodities Centre on Tuesday found 40 percent of British businesses surveyed said they would consider expanding to the Middle East, while 75 percent said they would consider Dubai.
The main reasons cited for expanding overseas were:
- 63 percent said emerging markets are becoming increasingly attractive.
- 47 percent said their business needed a global presence.
- 44 percent cited the availability and wealth of overseas talent
- 36 percent said there was too much uncertainty in the markets and the UK is no longer an attractive option.
British Prime Minister Theresa May will trigger Britain's withdrawal from the European Union under Article 50 of the EU treaty on March 29, her spokesman said on Monday, meaning the country will likely exit the trade bloc in two years.
However, last week the British government revealed it has not carried out an assessment of what effect leaving the European Union without a new trade deal would have on the economy.
Further reading:
Britain's Brexit bill is reassuringly expensive
British government says will not allow lawmakers to block Brexit
The next Eurozone crisis?
Middle East investors push ahead for London assets
© Express 2017
Uncertainty over the United Kingdom’s decision to leave the European Union is making British businesses more open to overseas expansion, with Dubai ranking highly among the international locations being considered, according to a new survey.
Research released by the Dubai Multi Commodities Centre on Tuesday found 40 percent of British businesses surveyed said they would consider expanding to the Middle East, while 75 percent said they would consider Dubai.
The main reasons cited for expanding overseas were:
- 63 percent said emerging markets are becoming increasingly attractive.
- 47 percent said their business needed a global presence.
- 44 percent cited the availability and wealth of overseas talent
- 36 percent said there was too much uncertainty in the markets and the UK is no longer an attractive option.
British Prime Minister Theresa May will trigger Britain's withdrawal from the European Union under Article 50 of the EU treaty on March 29, her spokesman said on Monday, meaning the country will likely exit the trade bloc in two years.
However, last week the British government revealed it has not carried out an assessment of what effect leaving the European Union without a new trade deal would have on the economy.
Further reading:
Britain's Brexit bill is reassuringly expensive
British government says will not allow lawmakers to block Brexit
The next Eurozone crisis?
Middle East investors push ahead for London assets
© Express 2017
