Over half of British expats intend to remain abroad
Over 60% of Britons living abroad have said they will ‘never’ permanently return to the UK as many say they are saving more by living overseas.
The survey by deVere Group questioned over 750 British expats in countries including Australia, New Zealand, Hong Kong, Germany and Switzerland.
According to the Australian Bureau of Statistics, in 2019, almost one million people in Australia were born in the UK.
Some 81% of respondents said they were able to save more in their overseas location and 70% were sending money back to the UK.
Some 62% said that they would never relocate back to Britain, 11% said they would consider it, whilst 27% said ‘maybe.’
Reasons included better quality of life, better weather, lower cost of living and more lucrative career opportunities.
However, they needed to ensure they made the most of their expat status and explored the different options available. Additionally, they needed to be aware of their requirements if they did choose to return home.
Nigel Green, chief executive of deVere Group, said: “No-one knows for sure what the future holds. Perhaps they will be forced to go back to the UK due to a change of personal circumstances, for example.
“The concern is that those who assume that they will never return to the UK, or indeed relocate somewhere else, is that they will not have all the available and/or necessary financial options open to them should they need to go back to Britain, or indeed elsewhere, for whatever reason.”
AUTHOR
Laura Dew
Recommended for you
High-net-worth investors and family offices are sustaining the rising demand for private equity investments, Schroders has unpacked, offering less volatility and the potential for higher returns.
The $13 billion ethical investment manager has named its new head of equities, who previously spent 12 years at Perpetual.
Magellan Financial Group has reported a consecutive monthly AUM increase for only the second time in the FY24–25 financial year.
Reacting to ASIC’s public and private markets discussion paper, research houses BondAdviser and SQM Research have detailed how they believe investors can be better protected from the risks of these funds.
