Despite economists predicting a “doom and gloom” outlook following Brexit, many international companies say it could have a positive effect on the economy and their businesses.
One of those embracing this change is Heathrow airport’s largest shareholder, Rafael del Pino, president and chief of Ferrovial, the company that owns a 25% stake in the airport. He said Brexit may have “positive side effects” and stimulate growth through low-interest rates and the prospect of asset price inflation, according to The Telegraph newspaper.
According to Ferrovial’s website, del Pino told shareholders the UK’s exit from the European Union had been beneficial for his business because it had encouraged the British government to be “most favorable” toward an expansion of Heathrow airport.
However, despite the short-term benefits of Brexit, the businessman warned that his firm would not be investing more in the UK because he “sees no opportunities” in the long-term.
Brexit is Positive for Healthrow, Bad for the UK?
“We do not invest more in the UK, but we do not divest either,” he said, according to The Telegraph.
“We watch the process prudently, not only because of the effect it has on the country but also throughout Europe.”
“There’s great uncertainty also because nobody, not even the UK, knows how the process and consequences will be carried out,” said Del Pino.
Del Pino also pointed out that once the referendum outcome became apparent the UK economy showed signs of a “considerable GDP easing with a possible short-term slowdown”, these estimates had “been tweaked toward a more optimistic outlook” in more recent times, he added.
According to The Metro, Brexit is a positive step for many industries in the UK including British fisheries, the tourism industry and trade relations with Russia.
Last year, the Russian-British Chamber of Commerce announced that “Brexit would open up new prospects and new opportunities” for the UK and Russia to build a healthy bilateral partnership.
It remains to be seen what affect Brexit will have on the British economy, but one thing is certain it will take bold ideas and bold actions by those in power to ensure the global economy thrives and we all prosper during this change.