According to the latest bi-annual expat survey from Lloyds TSB International, 67% of expats say they have no plans to return home, an increase of over 11% in six months.
The survey also revealed the majority of expats (65%) feel their financial prospects are better in their country of residence, while only 14% believe their financial outlook would improve in Britain.
Jakob Pfaudler managing director of Lloyds TSB International said: “We knew that most people who move abroad are glad they did so, but we were surprised at the growing pessimism about financial prospects in the UK.
“Much has been made of “austerity Britain” in the press and elsewhere, and it seems to be contributing to expats’ decisions to settle elsewhere for good.”
Pfaudler added that generally lifestyle, rather than financial considerations, is the decisive factor in expats’ desire to stay abroad. According to the research, of the 4% of expats who plan to return to the UK within the next year, only 12% are returning because they miss the UK lifestyle, while 21% are moving back for their career.
“It seems the key to contentment as an expat is emigrating to improve your lifestyle or to benefit your family,” added Pfaudler.
“The research shows that career and financial considerations are important, but that many expats consider them the icing on the cake rather than the cake itself.”
