By Mali Sapsed Foster
Image by Mali Sapsed Foster
With the cost-of-living crisis sweeping across the nation, it is no surprise more Brits than ever are making the move overseas - where reasonable housing prices, lower entertainment expenses, and beautiful weather are an attainable luxury.
According to a 2022 study conducted by Total Jobs, 4.5 million British residents were seriously considering moving abroad in hopes of seeking a higher quality of life.
“The cost of living in the UK has been incrementally rising during the last few years,” said Xenios Thrasyvoulou – founder and CEO of PeoplePerHour (PPH), in conversation with The Independent, “and with inflation making real-term wages fall for the third year in a row, people are constantly looking for ways to make their money go further.”
Number of British Expats & Countries They Moved To
Graph created by Mali Sapsed Foster, using Movehub data
Olivia, 30, who works in talent acquisition as a sourcing specialist, escaped London life during the pandemic - living in Mexico, Columbia, Los Angeles, Thailand and Greece, and working remotely over the last few years.
"I had a better quality of life in every aspect of my life," she said "My health was better, my mental health was better, I was more active. I did a lot of outdoorsy stuff like hiking which you can't do when you're living in London."
Despite only returning to London last August from her last destination, Olivia is in the final stages of preparing to move abroad - and never return.
"Currently the issues in the UK are obviously the economic situation in London, as a single person not being able to afford a property of your own." Olivia said.
"To buy a property in London is kind of unheard of, and people who have bought properties recently who are on a good salary, married couples that have really good jobs are still very much struggling with the interest rates on the mortgage now, because the interest rates have soured so yeah I just think living in London is not for me and the UK in general."
Expatistan approximates the estimated monthly costs for a single person living in London to be an overwhelming £4,209, and £6,458 for a family of four.
Reports commissioned by the London Councils show that average rents were 15.8% higher than in 2021, with the average monthly rate of flats to rent in London as high as £1,500 - £1,600 in 2023.
Flora, 25, is in her third year of university, and seriously considering moving abroad if she finds a remote job after graduation.
"I've had some experience living out of the country through travelling, and living in Central America and Panama for some months." Flora said, "Living away from the country definitely made me want to live in another country, as I felt that there was a lot more excitement and different experiences and opportunities than in London or UK."
To people like Flora who are considering the move, Olivia - who is looking to buy her property abroad in the next few months, says:
"For me, if I were to give advice to somebody who is considering relocating from the UK it is go. Go as soon as you can, don't think about it, don't wait, just pick up your suitcases, pick up your bags and just leave!"
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