Au revoir New Zealand, oubliez Australia: when it comes to leaving the UK to settle somewhere else, Britons still prefer France, according to new data from Halifax International (HI).
Sixteen out of every 100 British expatriates are currently residing in France, while 10% can be found in Spain, according to Halifax International, which based its findings on its own database of expatriate customers who use its telephone and internet banking services.
Outside of Europe, the US was the most popular overseas destination, in addition to being the third most popular overall, with 8%.
Australia was the second most popular non-European destination with 4%, in addition to tying for fourth place overall with Switzerland and Germany, according to the bank, a major supplier of offshore savings products to the expat market.
The study found that a large percentage of the Halifax clients who are Britons living in France are either retired or approaching retirement: 67% are over the age of 55, and one-third, or 32%, are between 55 and 64 years of age, Halifax said.
Australia tops in ALI study
The Halifax study contrasts with a similar one unveiled last November by Alliance & Leicester International (ALI), another offshore savings specialist. It found Australia to be the “top country for UK expats”, with some 1.1m Britons living there, while "1.8m are spread across Europe, with Spain and France the most popular choices".
“A million live in North America, the majority in the USA,” ALI added.
Halifax International is the Jersey-based arm of Lloyds Banking Group.
Information on Halifax International offshore savings products may be found at www.halifax-international.com, or by calling +44(0)1534 846 555.
