Increasing numbers of UK workers are spending time working abroad, tempted by further career opportunities and potential higher earnings, according to a quality of life report published by NatWest International Personal Banking (NatWest IPB) and the Centre for Future Studies.
In 2006, over 200,000 British citizens left the UK to live abroad. Two thirds of them went to work abroad. Of those surveyed, four in ten (42%) were professionals or managers, and a further quarter (25%) were in other jobs. Results of the survey suggest that the typical expat abroad is no longer necessarily a retiree in the sun, but has a professional career, is aged 43 and earns an average salary of £67,000.
It seems one of the biggest motivatiors for moving out of the UK is in fact the lure of a better job from abroad rather than dissatisfaction with the job market in the UK, as only four percent of expats surveyed thought the UK provided lack of career opportunities.
According to Dave Isley, head of NatWest IPB,
“This trend will increase as countries continue to seek out the talents of British workers and entice them to foreign climes with career opportunities and the chance to experience life abroad. Whether it is a permanent move abroad, or for a short period of time, it seems working abroad is an opportunity increasingly open to more employees.”
The report identified several reasons for the trend, including:
o A strong pound and soaring house prices mean that people moving abroad will get more for their money
o Increasing opportunities for highly skilled Britons. ‘Points based’ immigration systems are ideal for skilled, English speaking people
o Increased off-shoring and outsourcing will increase the need for managers and trainers to work and live overseas to set up operations
Figures show that over the last 25 years, 1.38 million highly skilled Britons travelled abroad to work. Although these were replaced by 1.42 million immigrants over the same time period, the trend of Brits taking their talent to sunnier climes could continue.
Over four in ten (43%) of the expats surveyed made the move at the instigation of their employer. When they get there, it is easy to see why they stay, as nine in ten (90%) expats surveyed say they are financially better off abroad.
Of those that do return, it is the emigrants who are well educated and accomplished that are the most likely to return to their native shores and bring back the skills they have learnt abroad. The report demonstrates that over half of expats who would be classed as ‘highly skilled’ return to the UK for professional or educational reasons.
