The "G" in "GDPR" is the same as the one in "AGI": "General".
As I understand it (not a lawyer), every country in the EU unified their data protection regulations to match it, and the penalties for non-compliance are the same in all cases.
So, even maximal enforcement shouldn't cause any company to relocate. So long as the companies accept this as reality.
Actually, the GDPR only defines a minimal baseline for all the EU countries to meet. And countries didn't need to update their own laws to match it: since it is a Regulation rather than a Directive, the GDPR is enforcable in the entire EU even without a local law supporting it. Countries are still free to enact stricter policies if they want to, but those obviously wouldn't apply outside their own national borders.
That's in theory; in practice countries often look the other way or delay actions when they see fit. I guess Ireland is running out of money they planned to get and are now trigger happy on Meta.
As I understand it (not a lawyer), every country in the EU unified their data protection regulations to match it, and the penalties for non-compliance are the same in all cases.
So, even maximal enforcement shouldn't cause any company to relocate. So long as the companies accept this as reality.