Before the 2008 financial crisis, a number of global banks were situated in Amsterdam's elegant canalside offices. Nowadays after the Brexit, city officials see a chance to lure back some of that business.
Rival cities such as Paris and Berlin have been “shouting out loudly” to host finance and technology businesses fleeing London, but Amsterdam, less than an hour's flight away, has adopted a lower-key approach.
“I don't think any company is going to decide based on this marketing campaign”, Amsterdam's deputy mayor Kajsa Ollongren told Reuters in an interview.
The city is focusing on more practical measures. It is expanding its provision of free public education in English, creating 1,500 new places over the next four years, believing that good schools will be a key factor for companies scouting locations.
There are currently 5,400 places in state schools in Amsterdam that need to follow an English-language curriculum.
As France promised tax breaks for expatriates after the June 23 vote, Amsterdam quietly added staff to its team targeting Britain and financial businesses. The Dutch foreign investment agency moved more staff to its London office.
Amsterdam is home to Europe's largest internet exchange, with some of the world's fastest data connections—crucial to the clearing, high-frequency trading and financial technology firms, such as Flow Traders, in which the city has existing strengths.
Amsterdam's financial center will not be restored to its pre-crisis scale, Ollongren said.
Banks that do decide to come back will have to compete for prime locations with tech start-ups and boutique software companies that have taken their places in the 17th century canal houses.
Source: www.cnbc.com