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1 February 2008

Qualify of life drives retirement Brits abroad

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by Gill Montia

Qualify of life drives retirement Brits abroad

The NatWest has been surveying retired expats who form part of what is described as the “at home abroad” (AHA) generation.

In its Quality of Life Report, the bank takes into account various lifestyle indicators such as property, public services, weather and natural environment.

Thirty seven per cent of expats questioned stated that they had moved overseas to find a better quality of life.

For 26%, the standard of living was the deciding factor and 20% opted to move because of the cost of living.

While 92% of respondents said they enjoy a better quality of life than in the UK, 63% actually feel more “at home” than abroad and have no plans to return to the UK.

For 87%, life overseas has exceeded expectations and 91% say they are happier having made the move than when they were when living in the UK.

In terms of destinations, Canada came top of the list for overall quality of life ratings, followed by New Zealand and Portugal.

Italy, France, Sweden, Spain, Norway, Singapore, and the UAE are also in the top ten.

Dave Isley, Head of NatWest international personal banking, comments: “British expatriates are healthier, wealthier and happier; wherever they move to. It is interesting that the study also reveals the motivation to leave is not just dissatisfaction with life in the UK. The prospect of a good lifestyle abroad appears to finally prompt the decision to make the final leap.”

NatWest is predicting that the AHA generation will grow as people enter longer periods of retirement.

The report estimates that 1.8 million people will opt to spend their retirement years abroad by 2025, rising to 3.3 million by 2050.

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