Consider currency fluctuations when expatriating

 

Expats ought to think about currency fluctuations among other things to consider when relocating abroad.

A Place in the Sun Magazine editor Liz Rowlinson said these are "hugely" important.

For instance, many people have repatriated back from France, Spain or other eurozone countries as economic trends have discouraged them from purchasing real estate in these nations, the expert claimed.

She argued the Swiss Franc has shown "phenomenal" strength, which has also prevented individuals from buying property in Switzerland.

Men and women need to consider what their income from pension schemes or other financial savings is going to be worth, while allowing a margin of error to accommodate changes in financial markets, Ms Rowlinson asserted.

She recommended utilising a currency broker to buy money in foreign lands.

"Forward buy it at a certain favourable rate," the expert suggested, advising people to seek a professional opinion on how to do this.

"You can save yourself lots of money in terms of financial planning" if this is done, Ms Rowlinson added.

However, regardless of large-scale economic trends, France "still affords a timeless appeal", Terresens business development manager Charlie Williams explained.

Property investors consider the countries a "reliable bet" as tourists constantly stop by and visit, he continued.

Indeed, the FutureBrand Country Brand Index 2011 to 2012 put them among the top ten strongest in the world.

This measured the general public's familiarity, presence, advocacy, awareness, consideration and "active decisions to visit" particular regions.

It discovered people are most aware of and familiar with France, while its brand heritage and culture put it in second place.

Lloyds TSB International Wealth Survey found 21 per cent of individuals consider the country their favoured destination if they were relocating abroad, making it the most popular place to purchase a home in.

It also reached number one in the United Nations World Tourism Organisation's 2010 top ten destinations for visitors, with Spain retaining second place.

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