In the last decade there has been a substantial increase of Brits deciding to pack up their belongings, sell their homes in the UK to fly abroad in search for a better lifestyle. An estimated 5.5m British people live permanently aboard, which is a surprising 1 in 10 of the U.K. residents. In 2011, it was reported that 1000 people are leaving the UK every day in pursuit of warmer climates and an improved standard of living. The most popular destinations for British expats are Australia, the USA, Canada, Spain and New Zealand.
More Brits live abroad than any other nation. The foreign embassy has reported an average of 4000 visa applications per week for people wishing to move abroad, compared with just 300 per week ten years ago. So, what is it about Great Britain that is making so many of us crave a change? There are many factors swaying expats decisions to move aboard and start a new life.
One of the core factors which encourages Brits to take the plunge and move aboard is the gloomy weather that blights the UK. Although, the UK has beautiful countryside and magnificent beaches, the weather regulates how often we get to enjoy these pleasures. Even in the summer season there is no promise that we can plan a trip to the beach, as more often than not the bad weather will mean that we more often than not have to throw our plans out of the window.
European countries such as, Greece, Spain, France and Italy have spectacular hot summer days and mild nights where you can enjoy evening strolls along the harbour and feasting al-fresco at home or outdoor restaurants. When we see British people drinking tea, shivering on their outdoor patios, it is not difficult to see why a move is so appealing for many.
Often the cost of living in many foreign countries is an influential aspect for many when considering a move aboard. Many of the more well-off population are now wanting to move aboard due to high taxes and increased crime. 19% of British citizens with savings of over a quart of a million have said they would consider moving aboard. Experienced professionals find that they can earn more than they do in the UK with superior employment conditions, such as, reduced working hours, less tax and private health care schemes.
Many expats have noted an enhancement in their leisure time with a better balance between their working life and social life. 41% of the affluent Britons believe life is more stressful in the UK than other European countries that have a calmer pace to life. The bulk of Mediterranean countries such as Spain and Italy have relaxed working hours and often enjoy siestas during the hottest part of the day. Eating out and day to day living often does not tend to break the bank in many of these countries compared to Britain.
The blend of fewer working hours and extra leisure time has radically enriched the quality of life for many expats living aboard. According to a report by the Daily Mail, nine out of ten Brits living aboard said their quality of life has improved since leaving the UK. Many expats comment that their life is now much less stressful than it had been in the UK. But what are the potential issues around emigrating?
Statistically, 25-34 year olds are the age group most likely to consider selling up in the UK and purchasing a property abroad outright in order to become mortgage free. On average, a UK family emigrates aboard with assets of £250,000 from the sales of a house, car and some savings. However, while they carefully plan their new lives in minute detail, what many overlook is the potential cost of leaving their currency exchange in the wrong hands. By transferring their worldly possessions to their new chosen location via a high street bank, the average family risks losing up to a staggering £10,000 of their assets. According to research from HiFX, banks typically charge 4% more than currency specialists in unfavourable exchange rates.
It’s true to say the number of considerations someone who is looking to move abroad must take into account are many, however one where you can rest assured is in your removals – with Fox Moving & Storage holding considerable expertise in moving abroad (around 13% of our enquiries this year have involved a move from the UK to other shores) and we’d be delighted to assist your move. Get in touch with a free quote and let’s take that first step today.