Why it Doesn’t Pay to Be An Expat in the UK
Living Abroad Guides » Expatriate Living Guide
Fri, November 06, 2009 - 9:29 am EET
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!
Did you know that there are over 5,000 international schools in the world? They are in virtually every single nation you can think of – what’s more, as education is a business just like any other, the number of international schools grows each and every year. If you have a teaching qualification, this fact means that there is a huge opportunity out there for you to go and live abroad, work and discover a whole new life for yourself.
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.
Anyone who lives abroad or who plans to go overseas to live and work has a very unique set of reasons for so doing. Reasons might include wanting to get out of your own home country and escape its failings, see more of the world, live somewhere where there’s better weather, better prospects and a better quality of life. However, for expatriates of working age, one of the strongest driving forces sending more people overseas is career advancement.
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.
