Reuters reports that Frankfurt’s international schools see a bonus from Brexit after a deluge of calls from bankers who are set to be posted to Germany’s financial center along with their children now that Britain has decided to leave the European Union.
The city is the most popular place for banks to set up their new EU headquarters, prompting a surge of interest in its 12 international schools which teach in English and follow baccalaureate programs.
Studies show as many as 10,000 jobs could move from London to Frankfurt over the next four years, according to Frankfurt Main Finance, a lobbying group that promotes the city as a financial hub, possibly bringing with them thousands of students.
Even though Brexit only becomes official in March 2019, schools are proving to be an early indicator of future moves given the importance that parents put on a child’s education, which is often paid for by the employer.
Paris and Dublin in their pitches to attract bankers leaving London also committed to providing new schools for bankers’ children.
Schools have said they will need financial guarantees to fund any significant expansion. One executive of a U.S. bank said it was in discussion with schools in Frankfurt to secure places and was asked to pay money in advance.
Tuition fees at Frankfurt International School for a 12th-grade student are about 22,100 euros. In comparison, a place for a 12th-grader in the British School of Brussels is around 34,000 euros.
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