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- Daily brief -Tuesday 25 October 2016
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Half of expats 'will never return home'
Over half (52 per cent) of British expatriates who relocate abroad cannot imagine themselves moving home, research by Lloyds TSB International has revealed.
The study found the primary motivating factors for people to seek a new life abroad is to pursue a better career and salary options, with 29 per cent of employees aged 45-55 years citing this as their main reason for leaving.
Spain, France, South Africa and the US attract the longest-staying expats, while fewer tend to stay for more than ten years in the UAE or Hong Kong.
However, while many are not keen to move back to their home countries, three-quarters retain ties with their families and regularly visit the UK.
Managing director of the banking institution Jakob Pfaudler said he could understand the value of keeping in touch.
"Research shows that moving countries carries with it a huge emotional investment and it takes on average one to two years before an expat establishes a social network and starts to feel settled" he explained.
Meanwhile, the Moroccan government has earmarked a fund to provide its expatriate residents with access to legal, financial and social advice.
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