Staggering 75% of Brits consider move abroad to get away from weak economy, survey shows

by Ray Clancy on May 11, 2010

Almost three quarters of Britons have considered becoming expats this year because of the poor state of the country’s economy and a lack of job prospects, a new survey shows. Australia as the most popular destination, according to the research from foreign exchange broker Currency UK, followed by Canada, the US, New Zealand, Spain, France and Thailand.

Some 31% said the economy was their main reason for wanting to leave, while 23% blamed the lack of job prospects and 19% said they are worried about political uncertainty which they expect to lead to huge tax rises, cuts in public services and higher inflation.

The numbers considering moving abroad have increased since Currency UK’s last survey in 2005, when 25% of respondents said they had considered leaving Britain.

A change in the pace of life is also an attractive option with about one in 10 citing this as a reason for seeking a new life abroad. ‘Britain is now in a very different place compared to five years ago so I’m not wholeheartedly surprised by the results. However we weren’t expecting three quarters of Brits to admit to having a desire to leave. I think this highlights the current uncertainly and unease that is mounting across the UK,’ said senior account manager Adrian Jacob.

Meanwhile another survey shows that almost a quarter of self employed people in the UK are considering moving abroad in the next five years. The research from Foreign Currency Direct also found that Australia is the most favoured destination followed by New Zealand, the US and Asia.

The main reasons given for leaving the UK were a better work life balance overseas, the prospect of further UK tax rises and other countries offering a greater chance of building a more profitable business.

Foreign Currency Direct director, Stephen Hughes said that given the state of the economy, it is hardly surprising that so many self employed people are considering moving their businesses abroad. ‘We’ve seen a significant jump in self-employed people transferring money abroad to set up their businesses as well as paying for big ticket items such as rental deposits and cars,’ he said.

The most eager amongst smaller businesses to consider a move are those in the banking and finance, hospitality and leisure, and professional services sectors.

{ 1 comment… read it below or add one }

Kerstin June 20, 2010 at 11:32 am

We moved to Sweden over 5 years ago to Lapland just above the Arctic Circle. Its Canada's smaller cousin and no VISA required from the EU! Sweden's not expensive anymore and taxed are only high if you employ someone. Road fund tax, petrol, food, beer and wine (exception being spirit) are all about the same. Insurance, property and council tax is all MUCH cheaper than the UK.

Free info here –


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