Australia is the most popular country for British people looking to live overseas with 21% saying it would be their number one choice, followed by the US, Canada and Spain, according to new research.
It also found that a quarter of people have considered a move overseas and it is a better quality of life that is the biggest incentive to making a move abroad.
The Post Office research showed that overall more than a quarter, 27%, of people have considered a move overseas, with a further fifth, 20%, saying they remain open to the idea.
Australia is the most tempting destination with a fifth of people saying that they would most like to live or work there, followed by the United States of America at 18%, Canada at 14% and Spain at 10%.
Spain was the top country English isn’t the first language but people realise they will need to learn another language as the average amount of time people expect to stay is around seven years, giving them plenty of time to fully immerse themselves in the culture and enjoy a different way of living.
Perhaps unsurprisingly, the thought of missing family and friends is one of the biggest deterrents to making a move abroad with 58% of people saying they would miss their family too much, and over a quarter, 28%, saying they would miss their friends.
Those tempted by life overseas say this is because of the improved quality of living, warmer climate, new culture, adventure and work life balance.
Improved quality of live is the top incentive, followed by a warmer climate, experiencing a new culture, the adventure involved in living abroad and then an improved work/life balance. The High cost of living in the UK is the next most popular reason for moving aboard, followed by a higher salary, better career opportunities, a better place to bring up children and finally being able to combine travelling with getting paid.
‘Living and working overseas is a tempting thought, with many people considering a move abroad at some point. However, taking the plunge is a big emotional and financial upheaval, and it isn’t surprising that the worry of leaving family and friends is the main barrier,’ said Sarah Munro from Post Office International Payments.
‘To help negate the natural worry and stress of moving overseas people should get their finances organised in advance. For anyone who is looking to set up home in a new country, the Post Office International Payments service offers fee free international money transfers to help with house deposits and any other set up costs and doesn’t have to break the bank,’ she added.
The Post Office International Payments service can be used to send money between UK and overseas bank accounts for any purpose such as sending money to family and friends, paying bills, managing an overseas property, pension income, school fees or wedding costs. Customers can also use the service to make payments from abroad back to the UK in Sterling.
The minimum transfer amount is just £250 and those under £20,000 should be made online. Payments over £70,000 are handled by the telephone service where a specialist team member will offer clear guidance and quotes tailored to the customer’s specific needs.