A new study has shown that one in five Britons who have more than 250,000 pounds in savings are thinking of living abroad.
Factors including: poor weather in Britain, crime rates, high cost of living, and the poor economy has led to more UK nationals thinking about moving abroad for a better lifestyle.
The study completed by Lloyds Banking Group found that 19 percent of wealthy nationals in the UK would like to move to countries including Turkey, France, and Spain. Lloyds TSB International Wealth Director Nicholas Boys Smith said: “It is clear that a significant and growing minority see opportunity and a better quality of life overseas. Our research suggests the number of wealthy people leaving the UK is set to increase in the next two years.”
Smith went on: “Clearly there’s a growing minority that is worried about the outlook; infrastructure, crime, anti-social behaviour, tax, red tape, and do believe that there are better options abroad. What’s interesting is one of the highest proportions of people looking to leave are wealthy people living in London, and the highest proportion of wealthy people looking to leave are aged 25-34.”
The study suggests that the wealthy people looking to leave Britain are not people who want to retire and live out their days in the sun, it is the people who are looking for investment opportunities and chances for business overseas and money making opportunities in foreign countries. Turkey is currently ranked as one of the best nations to invest in, a good economy and plenty of businesses – Turkey is growing and growing fast. There is an increase of people moving to Turkey to invest in business in Turkey or villas for good rental yields and gain on investment.
The study also showed that there is currently around half a million people in the UK who have savings amounting to more than 250,000 pounds in total. It seems as though the economic crisis aswell as the poor investment opportunities, increased taxes, and red tape could see many rich Britons flocking to overseas countries for foreign ventures into business and lifestyle choices overseas.