Sterling is the X-pat factor, as cash-strapped Britons abandon the Eldorado dream
by Helen Burggraf
UK expats are increasingly throwing in the beach towel on their expatriate dreams, as the weak pound has sent the cost of living in the eurozone soaring, according to recent data from reallymoving.com.
Reallymoving, a UK... website that provides online quotes for home-movers, said the number of people requesting quotes to ship their household belongings to the UK has increased by 37% over the past year, while there has been an 18% decline in the number of people moving from the UK to the continent during the same period.
The company said this “uplift in demand for removal quotes from expats in Europe wanting to relocate back to the UK” represented a “turnaround” from the exodus of Brits to the region that predated the slide in the value of Britain’s currency.
One pound is currently worth €1.11, down more than 25% from three years ago, when it was at €1.49, and 20% from two years ago, when Britons got €1.39 for their pounds.
UK retirees who receive their pensions and investment income in sterling have been hardest hit by this decline. Those who work in the eurozone but who are paid in pounds have also seen their incomes contract significantly.
Recieve your pension in currencies other than Sterling - contact 0044 1664 4446256 for details.
http://www.international-adviser.com/lwm/article/1004
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