Increasing number of UK Expats will not return to the UK to Retire #UKExpats #Working-Overseas #Retirement #IN
14 Monday Jan 2013
Lloyds TSB International said research conducted in December last year found more than three quarters of expats (79%) said they plan to live abroad “indefinitely”, a near 20% rise on the 60% who said they would not return to Britain when asked two years ago. In Australia this was true of almost all expatriates, with nine out of ten saying they do not plan to return to the UK.
When asked about their quality of life, 74% said it had improved since moving abroad, this compares with only 7% who disagreed. Expats in France reported being the most happy with their quality of life compared with their experience of the UK.
Lloyds TSB also drilled into why people decided to move away from the UK in the first place. Perhaps unsurprisingly, the UK’s economic malaise is being increasingly cited by expatriates, with the number of people giving it as a reason increasing to 26% from 17% 18 months ago.
Richard Musty, Private Bank Director at Lloyds TSB International, said: “Expats are increasingly turning temporary overseas work into a permanent move and it does seems 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.”
The research was conducted by Freshminds in December last year and surveyed 1,168 British expatriates living in 13 countries.
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