Dublin wants to replace London in the corporate services market

Because of Brexit, many European companies close offices in London, which deprives thousands of workers of their jobs. This was decided to be taken as advantage by the government of Ireland and they offered Dublin as an excellent alternative to London. But the plans of the Irish leadership are limited by real problems. After Brexit, firms based in the UK will not have easy access to the resources of the European Union, its single market and the customs union. Of the 600 European firms in London questioned by the Swiss bank UBS, 10% said they would leave London at all, and 41% said they would "greatly reduce their presence in the UK."

Dublin is one of several cities that carefully entices these companies. Despite a number of advantages, the capital of Ireland is facing a housing shortage, which is likely to become more problematic if European companies choose this city as their new headquarters. There is one more problem - remoteness from the EU center. So, Paris is only 3 hours away from London by high-speed train. Berlin and Frankfurt are located in the center of Europe. Amsterdam and Madrid are also quite good options.

The most powerful trump card of Dublin is that it is very similar to the city it is trying to replace. "Dublin's main advantages are related to its similarity with London: it is close geographically and culturally, has good air connection. There is English-speaking environment with a similar legal system," - said Ronan Lyons, an economist at Trinity College. Ireland also has experience of working with large companies, especially in the field of technology. Facebook, Yahoo! and Google are headquartered in Dublin, and Apple's European headquarters is located in Cork, southern Ireland.

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