Brexit could be good for business in Madrid, say experts
Tuesday, December 19, 2017 @ 12:48 PM
BREXIT could bring major opportunities for investment to Madrid, according to a report in British daily broadsheet The Guardian – as businesses and agencies leave the UK, they may be attracted to the Spanish capital as an alternative location.
Spain's rapid growth – among the fastest in the European Union – and the fact that Madrid is responsible for 20% of the GDP, plus the greater quality of life in the city compared with other EU capitals, and the country's almost-exclusive links with Latin America due to its historical and cultural ties mean London's loss could be Madrid's gain, The Guardian believes.
To help convince firms considering leaving Britain – particularly those in the financial services sector and within the City of London – the regional government has set up the hashtag #ThinkMadrid in which it draws attention to the lower taxes and a new plan known as an 'administrative motorway' to fast-track the setting up of companies opting for Spain's largest metropolitan area.
Read more at thinkSPAIN.com