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Expat Currency News
Latest 10 news items tagged Currency
18 Jun at 6 PM 2013
Expats lose billions due to weak pound and currency fluctuations
Expat pensioners living all over the world have lost billions of pounds sterling due to the weakness of sterling and fluctuations in currency exchanges. According to a leading currency exchange company, British pensioners living overseas have been hard hit since 2007 when the £ sterling was hit by the financial crisis. Currency fluctuations since the crisis hit have exacerbated the problem, as shown in a recent survey. The maximum amount calculated to have been lost is around a stunning £10.6 billion, based on analysis of...
12 Jun at 6 PM 2013
Ibiza real estate benefits from Balearics booming economy
Whilst potential expat property purchasers are growing nervous about the effect of Spain’s new license laws, investors are transferring their attention to booming Ibiza. The Balearics holiday island’s recovery began last year and is surging ahead of its mainland resort competitors since Ryanair’s bargain flights began again in March. According to leading real estate firms, there are already around 24,000 British expats living in Ibiza, Mallorca, Majorca and Formentera and there’s plenty of room for more. At present, even...
10 Jun at 6 PM 2013
Survey reveals worlds priciest cities for expat living
As currency variations threatening expat lives across the continents and crackdowns on immigration and work permits causing relocations, a new survey has identified the world’s 10 most expensive cities. The ECA International Survey found that Tokyo, considered the world’s most expensive city for three years, has been toppled from its unenviable number one position by Oslo, the capital of Norway. Reasons given were the high cost of labour and production in the Norwegian city, which drove prices to new heights in 2013. A beer in...
31 May at 6 PM 2013
Survey shows UK expats transferring savings to local currency
Research has shown that a majority of British expats are now transferring their nest eggs from sterling to the local currency of their host countries. The survey, carried out by Lloyds TSB International, noted that 73 per cent of UK expats have already moved their savings to local banks in the local currency. By September last year, just 26 per cent held savings accounts in £ sterling, and by the present day the number had fallen to 13 per cent. Local currencies are the most preferred in countries such as Australia, South Africa...
16 May at 6 PM 2013
UK Fraud Squad warns expats abroad over money laundering scam
Britain’s scam-buster agency is publicly warning expats living abroad to watch out for a money-transfer scam by organised crime gangs. Action Fraud, an arm of the National Fraud Authority and the National Fraud Intelligence Bureau, warns that many expats are being approached via phone calls, emails or letter to participate in an innocent-seeming, straightforward money-making scheme. Advertisements in expat newspapers and online are also being used to trap the unwary. The process is deceptively simple, with the expat receiving...
15 May at 6 PM 2013
UAE working expats remit billions of dollars to home countries
Expatriate workers living in the United Arab Emirates send home just under a quarter of all overseas remittances made in the six nations of the Gulf Cooperation Council (GCC). The amounts sent out of the country by its Asian and other overseas expat workers made the United Emirates a huge source of foreign currency for the labour-exporting countries. According to the Deputy Premier and minister of presidential affairs, Sheikh Mansour bin Zayed al Nahyan, the GCC with its one- third of the world’s oil wealth is home to over 15 million...
18 Apr at 6 PM 2013
Is Australia the new Switzerland for expat financial stability
Switzerland’s most famous product wasn’t the cuckoo clock or the sound of unmusical yodelling, it was its traditional reputation for secrecy and financial stability. A well-managed currency, sound banking system and its long tradition of secrecy and exquisite service to its wealthy international clients put the country at the top of the financial tree for those wishing to keep their finances private and remunerative. Nowadays, however, the advantages of a Swiss bank account have diminished to the point of no...
14 Mar at 6 PM 2013
Fluctuations in sterling affecting expat pensions and investment returns
As inflation rises in most countries favoured as expat destinations, sterling fluctuations are affecting the amount of local currency in expat pockets. Sterling is now weaker than at any time in the past year, with the threat of a triple-dip recession in the UK, economic uncertainty across the EU and the recent downgrading of the country’s credit rating all hitting hard on those transferring monthly pensions or investment income. Those transferring larger sums for medical expenses or their children’s private education could be...
12 Mar at 6 PM 2013
Export education sector in New Zealand feels the pinch
A combination of the high New Zealand dollar rate, the world-wide recession and the 2011 Christchurch earthquake have hit the country’s export education industry hard since 2009. Numbers of international students applying for New Zealand student visas have dropped by 25 per cent over the last three years with approvals in 2012, the worst year on record, declining by 10 per cent. Reasons given were the soaring currency, the recession and the devastating earthquakes in Christchurch, once a hub for the industry. Government measures...
26 Feb at 6 PM 2013
