Insurance News Archive
Brits moving abroad 'to escape rising cost of living'
The increasing cost of living is having a massive effect on the number of British people choosing to move abroad, it is claimed.
Overseas destinations have been popular anyway, before the credit crunch impacted in the UK, according to expatriate and lifestyle magazine Shelter Offshore.
Rhiannon Davies, director of the organisation, says it is only recently the cost of living in the UK has become a real issue for so many people.
She claims greater numbers have sought to retire abroad previously due to the fact countries like Cyprus are more affordable and tax pensioners less.
However, Ms Davies adds: "Now that inflation is spiralling and the very real cost of existing day to day has reached levels at which working people are finding things difficult to deal with, just imagine how tough things are for pensioners living on a fixed income."
A recent Quality of Life report, carried out by NatWest International Personal Banking division with the Centre for Future studies, has surveyed British expatriates across the world.
It reveals 91 per cent are happier than they were in the UK, with 92 per cent indicating they now have a better quality of life and nine in ten stating they are financially better off.
28 Jul 2008
