Expats enjoy a better life, says NatWest Int'l

Nine out of ten British expatriates say they enjoy a better quality of life abroad, according to the third annual NatWest International Personal Banking quality of life report.

According to the study, which was undertaken in conjunction with think tank, Centre for Future Studies, expats ascribe much of their happiness to maintaining a good work/life balance with 87% of respondents rating theirs as either excellent or good.

The survey asked expats to rate 16 key ‘life experience’ factors in their order of importance and how satisfied they are with them. Interestingly the natural environment, climate, culture and leisure, healthcare and education were all rated ahead of financial security and financial wellbeing which are rated sixth and eighth respectively.

Fewer return to UKNatWest International also found, despite the global economic downturn and the subsequent pressures put on people’s wealth, the number of expats who said they would return to the UK has fallen to 19% from 26% in 2008.

Dave Isley, head of Natwest international Personal Banking, said: “It seems the grass really is greener for Brits living abroad as our study shows.

“The fact fewer expats say they will return to the UK in the future, compared to three years ago, proves that the pace of life, work life balance and earning potential abroad means life as an expat is sunnier in more ways than one – and that they are weathering the financial storm.”

Higher WagesFurthermore, professional expats on average earn over £20,000 more than their counterparts back in the UK, according to the survey, with 92% reporting a salary increase over the past three years. The highest reported salary increase was in Hong Kong at 19% followed by the UAE at 17% and Spain at 14%.

In addition, while moving abroad often comes with fears of financial insecurity, the survey found the majority (63%) said they were comfortable with their financial position, while 27% said they were either very well off (10%) or quite well off (17%). Meanwhile, 59% said they were confident they will be better off financially in five years time.

“The dream shared by many Brits of living a happy life abroad is alive and kicking, despite the global economic factors which have to some extent affected British expats,” added Isley.

“Believe it or not, there seems to be more to having and leading a fulfilled life than just money. British expats have built their lives abroad on solid foundations - with the climate, culture and leisure, healthcare and education all deemed more important than financial security or financial well being for them.”

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