The figures, compiled as part of NatWest IPB’s Quality of Life Index, show that 32% of all expat retirees intend to return to the UK, with a quarter finding that their dream life abroad has not met their expectations.
Money worries
Furthermore, 97% of those who are dissatisfied with their experience overseas cited an increasing cost of living, while 99% gave financial worries as their main causes for concern.
The global economic downturn has particularly affected retired expats living in European countries, due to falling property prices on the continent affecting the value of expat homes.
Home is where the heart is
Almost all of the retired expats surveyed said they miss their family and friends who are still based in the UK, despite advances in technology which have improved communication. Three out of four retired expats also miss British culture, admitting that they do not feel like they belong in their new home.
“It is important that people do not expect an extended holiday when they plan their new life away from the UK.”
Dave Isley, head of NatWest IPB, said: “It is inevitably disappointing for expats who do not feel their expectations are fulfilled by their new life overseas.
“It is important for anyone planning a move abroad that they make an informed decision which factors in both the financial realities of living abroad and considers the impact of living in a new environment.
“It is important that people do not expect an extended holiday when they plan their new life away from the UK.”
Rise in younger expats
Despite the grim conclusions, the Quality of Life Index found that younger expats, aged 25-35, are increasing and now make up 27% of all British people living overseas.
