Expats feeling the squeeze overseasBut nearly half say they're still not coming back
12 March 2009
Over half of expats have noticed a decrease in their disposable income since January 2008.
The research, done by Halifax International, also found 44% of Britons living abroad noticed a decrease of 10% or more in their disposable income.
Almost two-thirds (62%) have seen a decrease in their overall investment portfolios.
Still better off overseas
63% of expats also believe that the economic situation in their current country of residence is better than in the UK.
In addition, property abroad has suffered to a lesser extent than in the UK, with one third of expats (33%) stating that the value of their property overseas has remained the same since January 2008.
With regards to rental markets, over half (54%) reported no change in their rent payments overseas.
Other costs rise
But in terms of the other essentials such as food, almost nine out of ten (88%) said there had been an increase in the amount that they were paying.
Over half (52%) said they've noticed an increase in price of 10% or more.
The research also revealed that 41% of Britons living around the world have no plans ever to return to the UK.
The top reasons for leaving in the first place are:
- For a better quality of life (56%)
- Work (44%)
- To escape the weather (27%)
- To escape the youth culture and crime (20%)
Nevertheless, expats still miss elements of the UK, the most popular factor being family or people (44%), followed by the culture, with one third (30%) of expats confessing that they miss the traditional British way of life.
But one in four (27%) miss nothing at all.