British Expatriates Favouring The US
So as the summer is well and truly gone for 2013 and as autumn gives us one last look, we head straight for winter. A fairly miserable time of the year for most, especially the older generation. But a study completed by Crystal Investment and Real Estate, has found that the vast majority of British expatriates are more focused on other foreign destinations instead of the regular retirement hot spots.
Places such as France, Spain and Portugal are no longer popular retirement destinations for British expatriates. Instead Canada, America and Australia are rising in popularity. The study revealed that more than a third of Brits who are over the age of 40, and have been saving for their retirement are planning on retiring abroad.
Better weather, lower inflation and better lifestyles have made the US a haven for British expatriates
Nations where English is the spoken language are becoming increasingly favoured. This is in part due to air travel becoming much more affordable as well as much more frequent. The other reason why these Brits have chosen to move abroad can be summed up in four simple points. Weather, less tax, better lifestyles and a lower cost of living.
In the past Spain was one of the popular retirement destinations for British expatriates. Not only was it still relatively close to the UK. But along with better weather and a big expatriate community, it was the perfect location. However, the recent financial crisis has hit Spain hard, and this has forced house prices to crash in some cases by 70%.
Expats are able to move to some states in America for up to six months, and then return home in time for the British summer. With the large amount of varied entertainment, and the better climate, it is pretty obvious why the US is rising in popularity. Put that alongside the fact the inflation is lower in the US compared to the UK, it makes complete sense why the US is growing as being one of the most popular retirement destinations for British expatriates.