More UK expats choosing to live abroad ‘indefinitely’

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New research carried out by Lloyds TSB International, has found that the number of UK expatriates who plan to live abroad indefinitely has increased over the last two years.

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Availability of jobs and the cost of living certainly plays a role, but as our research shows, lifestyle factors can also be decisive in where people chose to live.

•    Over three-quarters (79 per cent) of UK expatriates plan to live abroad ‘indefinitely’, many more than the 60 per cent who said the same in 2011

  •     74 per cent of respondents are enjoying a better quality of life living abroad, with only 7 per cent admitting that quality of life in Britain was better
  •     People now living in France are the happiest with their new standards of living
  •     Dissatisfaction with the UK economy is now one of the key reasons for expats to leave the UK in the first place
  •     UK expats moving to Australia are the least likely to come back to Britain

New research, carried out by Lloyds TSB International, has found that the number of UK expatriates who plan to live abroad indefinitely has increased over the last two years. As the stability of the UK economy remains uncertain, many more expats are choosing to extend their time abroad, enjoying a better quality of life and putting a return to the UK on hold.

Lloyds TSB International’s research reveals that more than three-quarters (79 per cent) of British expats do not plan to return to the UK at all in the future. Compared to the 60 per cent who said in January 2011 that they would live abroad indefinitely, this is a significant increase. UK residents who have decided to move to Australia were found to be the happiest with their new lives, as nine out of ten said they would continue to stay in the country rather than return to Britain.

A key influence in the decision to stay living abroad or return home is quality of life. The research showed that 74 per cent of UK expats rate their quality of life more highly now that they live in a new country, whilst only seven per cent think that their quality of life was better when they were living in the UK. Those who made the move to France seem to be the most positive about their quality of life now, especially when compared to their quality of life when they still lived in the UK.

So, why did people move away from Britain in the first place? Many expats blame dissatisfaction with the UK economy, with 26 per cent of respondents citing this as their reason for heading abroad. Just 18 months ago, only 17 per cent gave this as their reason for leaving the UK, so it is a considerable rise.

Richard Musty, the Director of Private Bank Director at Lloyds TSB International, gave his view on the findings of the research, saying: “Expats are increasingly turning temporary overseas work into a permanent move and it does seems that the UK is losing its allure for many people who have experienced different cultures and lifestyles. Availability of jobs and the cost of living certainly plays a role, but as our research shows, lifestyle factors can also be decisive in where people chose to live.”

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Lloyds TSB International