Why it Doesn’t Pay to Be An Expat in the UK
Published on Friday, November 06th, 2009
Not only do Britons want to escape the sinking ship that is the UK, it seems that almost half of all expatriates living in the UK want to leave as well! This country really is not doing too well at the moment is it – some might even suggest it’s doomed and that the rate at which people are planning to leave is akin to those rats scurrying off that sinking ship and abandoning it to its fate!
Of course, comparing expats and would-be expats to rats is not favourable – but comparing great Britain to a sinking ship is about right! We now have statistical and factual proof about why it doesn’t even pay to be an expat in the UK – and we’re the publication that goes on about expats always having an advantage. Well, it seems that if you’re relocated to work in the UK your advantage is significantly less than that which most other expatriates enjoy!
Not only do expatriates resident in the UK earn less than many other expats around the world, they are taxed more, they earn in a weak currency, they are able to save far less money than their expat peers and 44% of them want to get out or go home! It seems that the UK can’t even attract foreigners to remain onshore!
There’s no doubt about it, the global financial crisis has taken its toll on us all. Expatriates around the world are reportedly attempting to spend less, save more towards a rainy day fund and are cutting back on luxuries and essentials in a bid to afford a rising cost of living, and to cope in the event that things get even tougher, financially speaking.
In the current turbulent economic climate it is imperative that overseas retirees and expatriates sending funds regularly from the UK get the most out of their money transfers. With the value of the pound having plummeted, every expat now knows that there is a benefit to be potentially gained from shopping around and comparing currency exchange rates.
‘Britain is still in recession’ screamed last week’s incredulous headlines: and yet everyone actually living in the UK is increasingly well aware that the media hype and frenzy behind the British economy is all rubbish anyway. Of course the nation is still in recession, and it’s likely to remain so for a considerably long time.
An expatriate parent’s first concerns when moving abroad are the welfare and education of their child. Depending on the age at which the child moves overseas, integration, language learning, social skills and educational ability can all be affected if the move is not managed correctly.
In the first part of our ‘how to find the perfect place to retire abroad’ article we examined the first five critical considerations that you need to have in mind if you’re thinking about moving away from ‘home’ in retirement. We discussed elements such as accessibility and even your ability to cope with red tape.
There is quite possibly nothing more annoying than a ranting, moaning, whinging expat slagging off anything and everything about their new nation of choice. Whilst nowhere in the world is perfect, and I can accept that and I can accept that there are legitimate issues in nations all over the world that one might want to complain about, what I cannot stomach is the fact that someone who moves abroad and fails to make a smooth go of their new life will blame the country they’re living in.
Oh how I laughed when I read a report in the Telegraph about how horrified politicians are that only 13,000, out of an estimated eligible 2.5 million British expats living abroad, are registered to vote in British elections. The tone of the report was one of disbelief and concern - along the lines of, ‘do these people not know that they can vote, oh how awful?’
