Expats Getting Younger and Retirees Returning Home

6/22/2016|Updated: 6/22/2016

Last year, about 41 per cent of the 297,000 people emigrating from the UK were British citizens, according to the Office of National Statistics (ONS).

Almost half of these people left for work-related reasons, and about 6 per cent to study abroad. This is reflected in the latest data from NatWest International Personal Banking, whose annual Quality of Life Index showed that expatriates are becoming younger, with 27 per cent of the 2,400 expats surveyed aged 25–35.

“Previously, moving abroad was a huge life commitment which would entail a complete upheaval for all involved. With the advances in remote working and new means available to keep in touch with family, people are more prepared than ever to pack their bags in search of both adventure and a way to improve their career prospects,” said Dave Isley, head of NatWest IPB, in the report.

2014 data from the ONS states the ever-popular Australia as the top country for British emigrants, followed by France, the USA, UAE, and Canada.

But the Natwest 2015 data shows a different picture, with Singapore topping its list as the most popular country to emigrate to, owing to the rise in younger British people working abroad. China and Hong Kong also came high on their list.

They suggest that the traditional permanent expat – either retiring or looking for a new start in a new country – is being replaced by the temporary expat wanting to gain work experience abroad.

“The shift in temporary expats’ destination is largely due to the growing demand for British professional skills in a number of prominent Asian and Arabic countries, following rapid economic growth and a greatly improved standard of living,” states the report.

“This in stark contrast to European countries included in the index, which indicated that around a quarter of all expats now felt nervous or anxious about their economic situation (Portugal 22 per cent, Spain 26 per cent, France, 28 per cent).”