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• 3.3 million people to retire abroad by 2050

• Global report of British expats reveals sense of Britishness decreases over time

The NatWest International Personal Banking (NatWest IPB)Quality of Life Report* undertaken in conjunction with think tank, Centre for Future Studies, surveyed British expatriates from across the world. It revealed that the desire for a better way of life was a strong reason to leave the UK, with over a third (37%) of expats surveyed putting quality of life as their top factor for living abroad, closely followed by standard of living (26%) and cost of living (20%).

Consequently, over nine in ten (92%) expats surveyed feel they have a better quality of life abroad, and six out of ten (63%) do not plan to return to UK shores, feeling more At Home Abroad (AHA).

The findings show:

• 87% say their life abroad is better than expected

• 91% are happier than they were in the UK

• 90% are financially better off

• 68% consider themselves healthier

• 81% have a greater sense of wellbeing

The study also rated their life abroad; and based on expat assessments of numerous lifestyle indicators, including housing, public services, weather and the natural environment, the NatWest IPB Quality of Life Index was prepared.

NatWest IPB Quality of Life Index

Of the countries surveyed Canada was rated top of the table by expatriates surveyed for its quality of life experience, rating above all others and scoring top marks. At the lower end of the scale came Singapore and the United Arab Emirates (UAE):

1. Canada

2. New Zealand

3. Portugal

4. Italy

5. France

6. Sweden

7. Spain

8. Norway

9. Singapore

10. UAE

Source: CFS

Canada scored first place with a mean score of 63.95 (a perfect score would be 80, the worst score would be 16) with high rankings for housing, the natural environment and the availability of consumer goods. New Zealand was a close second, with high rankings for schools and healthcare provision. Towards the other end of the Quality of Life Index, Singapore and UAE both fell short in regard to public transport and public services in particular.

Dave Isley, Head of NatWest International Personal Banking comments: “The chance to work or retire abroad to a place in the sun has long been a desire for many Brits, and it is interesting to note for those considering the move to wider shores that the grass can indeed be greener on the other side. The NatWest IPB Quality of Life Index reveals that British expatriates are healthier, wealthier and happier; wherever they move to. It is interesting that the study also reveals the motivation to leave is not just dissatisfaction with life in the UK. The prospect of a good lifestyle abroad appears to finally prompt the decision to make the final leap.”

‘Push’ and ‘pull’ factors

Even though the majority of expats surveyed (55%) were unhappy with many aspects of their life in the UK (the push factors), this dissatisfaction, on its own, was not the overriding reason for them leaving the UK. Rather, it was the prospect of a better quality of life abroad (the pull factors) that prompted them to leave. Significantly, 45 per cent of respondents said their decision to emigrate was not influenced by the way things were in the UK – challenging the view that Brits are fleeing the country solely to escape a poor quality of life. In fact, the weather was the top reason to leave for just 7 per cent of Brits, showing that it isn’t all that bad!

The study also reveals that the AHA generation is likely to grow in the future. As the UK population continues to age, a rise in Britons retiring abroad is naturally expected. By 2025, 1.8 million Brits (13.2 per cent of the population)* could spend their later years abroad, and this may increase to 3.3 million by 2050.

Sense of Britishness Decreases

Almost all (99%) respondents said they have no regrets about emigrating, and they made a good decision to move. However, this doesn’t mean they don’t still miss life back home, as over three quarters (76%) said they feel homesick some or all of the time. The worst thing for expats is missing family and friends (73%). They also interestingly missed the traditions and culture (35%), the British sense of humour (27%) and even the pub (9%).

However, the feeling of wanting to be back home gradually decreases over time as one in five (20%) expats surveyed said their sense of being British has diminished, suggesting that expats begin to feel less British and more At Home Abroad (AHA) the longer they have been living out of the UK.

Dave Isley continues: “There are a number of different reasons why people relocate abroad, to be nearer to family and friends, to start a new job, or as the study demonstrates, to increase their quality of life. This is only likely to increase in the future, with many more taking the decision to spend their twilight years sipping sangria in Spain, Chianti in Italy, or eating maple syrup and pancakes in Canada.”

For further information on NatWest International Personal Banking visit: http://www.natwestinternational.com

by: Editor

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