Saturday 21 April 2018

Brexit could reverse the tide of young people leaving Ireland

Bryan Durkan:
Bryan Durkan: "Talent is drawn to opportunity and millennials are more mobile than previous generations."
Sarah McCabe

Sarah McCabe

Britain's decision to leave the European Union will prompt hundreds of thousands of millennials working in Britain and the EU - including many young Irish who emigrated to the UK for work - to consider a move to Ireland, a leading recruiter has said.

Brexit has the potential to reverse Ireland's decades-long problem with youth emigration, said Bryan Durkan, of recruitment firm HRM Recruit.

"Talent is drawn to opportunity and millennials are more mobile than previous generations" he said.

"While it is not yet clear when exactly the British government will activate Article 50 of the Lisbon Treaty, or what impact that will have for the integrity of the UK itself, Ireland will soon become the only English-speaking country in the EU. It places us in a strong position to attract overseas firms and professional talent."

The IDA has stated that Brexit presents opportunities for Ireland to attract foreign direct investment.

"A number of global banks, investment firms and tech multinationals have already indicated plans to move headcount from London to Dublin and other European cities as a result of the Brexit vote" said Durkan. "We are already hearing of some large service organisations considering Ireland as a location to relocate to out of the UK.

"Once the initial shock stage has passed, Irish, British and other EU nationals working in the UK will be considering their options. Ireland has a number of draws which will prove impossible to ignore for talent currently based in the UK."

Some 73pc of under 24s in Britain voted to remain in the UK.

Sunday Indo Business

Business Newsletter

Read the leading stories from the world of Business.

Also in Business