Already, seven in ten foreign investors say they have been impacted by Brexit, particularly with regards to operating margins, purchase costs and sales.
The financial services industry has been one of the hardest hit by the vote and remains the least optimistic about the outlook ahead. Just 12 percent say they anticipate strong growth while 6 percent are expecting to "slightly reduce" their existing presence in the region.
Earlier this month, UBS and HSBC warned that they could each move about 1,000 jobs out of the U.K. as they prepare for trading disruption.
According to EY's study, Brexit and European Union stability were cited as more fundamental concerns for financial services firms than for manufacturing firms.
The study also found global investors plan to grow their presence in Europe over the coming years despite recent geopolitical uncertainty that has dominated the region.
The findings in fact note an uptick in investor sentiment over the past year, and in particular since the U.K.'s shock Brexit vote, going some way in dispelling wider concerns about the impact of political upheaval on underlying investment behaviour.
EY's study of 254 global investors found that more than half – 56 percent – say they plan to grow their exposure to Europe over the next three years. This is up from May 2016, one month prior to Brexit, when just 36 percent of Europeans said they were optimistic about the future of Europe.