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'Better quality of life' for expat children - 22 September 2011

The latest research from currency specialists Moneycorp has revealed that 80% of UK expats believe their children have a better quality of life since they moved abroad.

It seems ‘la dolce vita’ is coming true for many Brits living overseas as 85% of those surveyed say they intend to stay living abroad for the foreseeable future. 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.

Moneycorp manager David Kerns warns, “As the pound weakens, it’s especially important that expats speak to currency specialists to guard against these adverse fluctuations. 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.”

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