British expat children have better quality of life, survey suggests

by Ray Clancy on October 6, 2011

The vast majority of British expats believe that their children have a better quality of life since they moved abroad, according to a recent survey.

Some 80% of UK expats believe their children’s life is better and 85% say they intend to stay living abroad for the foreseeable future, the latest research from currency specialists Moneycorp shows.

Better quality of life for children

This dim view of life back home that is shared by expats is further underlined as 25% of respondents said they would consider moving elsewhere overseas before contemplating returning to the UK.

The survey also reveals that Britons are eager for a change of lifestyle as over half, 53%, of respondents said this was the main motivation for the move abroad while, surprisingly, given the disappointing British summer, only 10% said it was due to the weather.

However, it’s not all easy living for UK expats as more than 50% report their cost of living has increased since moving overseas. One in four of the expats surveyed live in France where food and petrol prices have increased significantly over the last year or so.

Missing family is also a cause for concern, with nearly half, 44%), saying they are visited less frequently by their family since the financial downturn while 36% visit their family in Britain less than once a year.

‘UK expats face a dilemma. Although many are happy overseas and enjoying a better quality of life, they are suffering from a rise in the cost of living, which is forcing some to return home. This isn’t helped by fluctuating exchange rates as the pound has lost value against many major currencies of late, especially the Australian dollar, meaning those transferring money from the UK are seeing their funds diminish,’ said Moneycorp private client manager David Kerns.

‘Costs are clearly a concern for expats as over 60% of respondents want to know more about transfer fees when moving their money abroad suggesting they are wary of further constraints on their income. As the pound weakens, it’s especially important that expats speak to currency specialists to guard against these adverse fluctuations,’ he explained.

‘By locking into favourable exchange rates for up to two years expats can protect themselves against the pound losing further value, as well as avoiding potentially costly transfer fees. Over a series of payments, these savings can run into the thousands of pounds, particularly if they are regular occurrences such as mortgage or pension payments from the UK,’ he added.

{ 1 comment… read it below or add one }

Charles Joseph November 1, 2011 at 1:17 pm

Malaysia is a country the British should consider moving to…
Check out the MM2H Programme for foreigners wanting to Retire here..and also other websites on Malaysia..
Feel free to email me with your questions, and I'll do my best to answer… Property and MM2H relate and
anything else, one needs to know about MAlaysia…

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