Only one in 10 British expats enjoying a new life overseas would move back to the UK, a new poll has revealed.
A massive seven out of 10 would not return to Britain, while the rest – around one in five – are undecided.
The UK government estimates that 5 million Britons live overseas, which means only 500,000 have any firm intention of ever returning.
The survey by world leading expat financial firm deVere Group also found one in four left Britain for work.
The expats taking part in the research live in the US, Australia, United Arab Emirates, Hong Kong, Spain, France, Germany and South Africa.
DeVere Group CEO Nigel Green said: “The number of Britons living outside the UK has soared in recent years. Officially 5 million Brits live overseas, although the real figure is universally acknowledged as considerably higher. Many expats do not register in their new countries of residence with the relevant authorities.
“Extrapolated to the total number of [only officially] identified British expats, that amounts to 3.5 million Brits abroad vowing never to return to the UK.
“The survey underscores that for most people living abroad is a rewarding and fulfilling experience. This outcome is likely down to several key factors including better or more lucrative career opportunities, lower cost of living, higher quality of life, high quality childcare and education, lower crime levels, and good weather. As an expat of many years I recognise this positive scenario well.”
The expats were also quizzed about their finances.
Three-quarters disclosed they regularly send money to Britain and 87% felt they could save more from abroad.
“If they are using traditional banking services to transfer money, they are likely to be being caught out by unnecessarily high fees. This highlights why expats should consider their finances holistically and over the longer-term,” said Green.
“While living an international life is a hugely positive experience for most people, it is imperative not to rule-out the possibility of returning back to the UK or moving on somewhere else in the future.
“If expats fail to plan for such eventualities by not considering all cross- border financial options now, they could be compromising their long term financial security.”