According to a survey by Lloyds TSB International, which was released yesterday, the vast majority of British expatriates have no plans to return back to Blighty because of the UK's continuing economic problems.
The Lloyds TSB International Expat Survey said 65% of those it had polled in January (The survey polled 867 British expats online), felt their financial/economic prospects were better in their current country of residence abroad - with 67% stating categorically that they have no plans to return to the UK. Only14% who thought their prospects would improve in Britain.
Lloyds TSB's International managing director Jakob Pfaudler, commented "Much has been made of 'austerity Britain' in the press and elsewhere, and it seems to be contributing to expats' decisions to settle elsewhere for good,"
As recently as 2010, media outlets were running stories that expat Britons affected by a weak pound were planning a return to British shores, however, now that ‘austerity Britain’ has become a reality, Brit abroad will do all they can to stay abroad!
According to a recent report in the Telegraph, Brits abroad know that despite facing potential economic hardship because of inflation and weakened economies globally, things are much better overseas.
One expat living in Moscow, Russia, said if fellow expatriates living locally had not been able to extend contracts in Russia, they were looking to move anywhere else but back to the UK. “If they haven’t been able to extend their contracts, they’ve tried to be moved towards Asia rather than back to Western Europe. The recent economic crisis has affected all countries but it’s very much perceived that the troubles back home are far worse than they are here, with lower job-security, salary freezes and increased taxes being the main things putting people off.”
So, if you were wondering whether the time was right for you to head overseas, it seems as though nowhere is as bad as Britain: and this may be enough of an incentive to push the increasing numbers of enquirers we’re witnessing daily to commit to their plans of relocation.
Bookmarks