Two thirds of under 40s considering leaving Britain

10 Aug

Just under two thirds of under 40s in Britain are contemplating leaving the UK, according to a survey we carried out recently.

As quoted in City AM and The Independent, amongst others, the deVere Group poll reveals that 65 per cent of those questioned are ‘seriously considering’, ‘are thinking about’, or ‘would be tempted to’ move overseas.

22 per cent claimed they would not consider leaving the UK and 13 per cent did not know.

The five most popular destinations favoured by the under 40s are New York, Sydney, Johannesburg, Dubai and Hong Kong.

To my mind the results of this latest survey perhaps challenge the traditional perceptions of who emigrates from Britain. It is regularly assumed that British expats are retirees looking for a relaxing lifestyle in the sun, in areas such as the Costa del Sol, Australia’s Gold Coast and Florida.

However, without doubt there are indeed a high number of British pensioners heading to such locations, but, as this survey indicates, we’ve discovered an increasing number of the working population are pondering a move abroad.

Those surveyed are all of working age and the majority divulged that the main driver for relocation would be to further their careers and to enjoy an enriched lifestyle made possible by a higher salary.

Therefore, taking this into account, it comes as little surprise that these five vibrant, English-speaking, robust global business hubs, renowned for their high earning potential, are the most popular for this category of expatriates.

So what are the main factors causing individuals to leave Britain?

High taxes, increasing living costs, crime levels and a poor climate are the main drivers amongst those deliberating quitting the UK.

In contrast, one common factor amongst expatriates, wherever they decide to relocate in the world, is that there is a general sense of wellbeing. Our expat clients report that having emigrated from their home countries, they generally feel more financially and personally fulfilled.

The primary reasons and so-called pull factors for this feeling of contentment are, to a certain extent, the novelty of living overseas, better weather, higher salaries, and the fact that expats are able to use their expat status to their financial advantage.

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