Survey suggests expats in UK worried about economic outlook

Published:  15 Nov at 6 PM
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Tagged: UK, Canada, Euro, England
Yet more results from the HSBC Expat Explorer Survey 2012 suggest that expats living and working in the UK have concerns over the state of the UK economy.

The results, mirrored in the rest of the Eurozone, show that confidence in and satisfaction with the UK’s economic progress is low, with 36 per cent of those surveyed believing it’s heading in the wrong direction. Amongst those already planning to leave, the rising cost of living is the main reason given by 48 per cent, with a further 44 per cent citing the UK’s negative economic outlook.

However, the survey revealed that 71 per cent of expats are looking to stay long-term, with only 7 per cent actively planning to leave. The results mirror the situation and sentiment of expats in other Eurozone states.

In the lifestyle section of the survey, the UK received better results with the country rated 18th out of 31, a strong improvement on last year’s dismal 29th position. Integration was the strong sector this year, with 49 per cent of respondents agreeing that making friends was easy and only 26 per cent spending their free time with other expats.

Integration scores were further boosted by 49 per cent of migrants saying they had found love as well as work, a step up from the global average of 33 per cent. It’s possible that the UK’s leap upwards in the table was helped by the number of cultural events over the period surveyed, including the Royal Wedding, the Queen’s Golden Jubilee and the Olympic Games.

The survey noted that 46 per cent of expats working in the UK were aged between 35 and 54, and it was no surprise to find that 19 per cent were employed in the country’s financial sector. Britain’s position as a centre for excellence in education and the academic world is also seen as a draw, with 19 per cent in the profession as against an international average of only 9 per cent.
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