Thursday 31st January 2013

British expats moving abroad permanently

A new survey has indicated that eight in ten British expatriates who have moved overseas will not be returning to their home country.

The research, which was conducted online by Lloyds TSB International in collaboration with Freshminds, involved over one thousand British expatriates who are currently living in 13 popular expat destinations which included Australia, Canada, France, Germany, Gibraltar, Channel Islands, Isle of Man, New Zealand, South Africa, Switzerland, Spain, the UAE, the USA.

According to the outcome of the survey, over three quarters of respondents (79%) do not intend to return to the UK at all, with this figure representing a significant increase from 60% in January 2011. Their reluctance to return to Britain to economic affairs, a lower standard of living and the weather. Overall, 74% of the expats surveyed claim that they enjoyed a better quality of life since they moved to their new country of residence and only 7% who say that they experienced a better quality of life while they were living in Britain. It is British expatriates living in France that are the happiest with the quality of their lives abroad and those living in Australia that are the least likely to return home.

Describing the survey results, Richard Musty, private bank director at Lloyds TSB International, said: “Expats are increasingly turning temporary overseas work into a permanent move and it does seem that the UK is losing its allure for many people who have experienced different cultures and lifestyles. Availability of jobs and the cost of living certainly plays a role, but as our research shows, lifestyle factors can also be decisive in where people chose to live.”

Read the full article: http://www.lloydstsb-offshore.com/

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