Surge in young professionals looking to emigrate

Published:  18 Aug at 6 PM
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Relocation companies are seeing a surge in the numbers of younger professionals looking to leave their countries of birth.

For several decades, demographics related to expats have shown older professionals and retirees as the two main groups looking to emigrate, but a recent survey seems to have overturned the balance. The study, undertaken by a leading relocation company, indicates it’s those between the ages of 18 and 35 years who are desperate to try a new life overseas. Inquiries by young creatives and other professionals have soared by 60 per cent during the past 12 months.

The theory behind the increases is that younger first-world professionals have fewer familial and local ties holding them back from making the decision to emigrate. In addition, this generation have far fewer chances to increase their spending power as inflation rises and even less chance of ever owning their own homes. Given present conditions as well as the looming economic perils of Brexit and its effect on the EU as well as the UK, it’s no surprise that leaving the home country of and finding a better, more affordable lifestyle seems the only option.

The majority of responders to the survey said they were attracted by the financial benefits and more attractive jobs on offer in other developed countries, although the formerly most popular destinations of America and Australia all saw a fall in the number of enquiries. For those emigrating from other countries, the UK is no longer a good deal, with international moves dropping by 22 per cent. One reason for the decline in interest across the board is these three countries’ high costs of living.

Portugal, Ireland, Spain, Canada, France, Germany and New Zealand are attracting a greater number of young professionals than in previous years, and social media is playing a large part in popularising formerly unheard of expat destinations such as Iceland, Denmark and the Republic of Ireland. Interestingly, the younger generation of would-be expats doesn’t seem to fancy traditional hubs for making money and living the high life such as the Gulf States, Hong Kong and Singapore.
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