The number of expats packing up and leaving the UK is equivalent to a Boeing 747 jumbo jet leaving Heathrow on a one-way trip every day.
An average of 400 British expats pack their bags for good to leave for other countries each day, according to figures from the Office of National Statistics (ONS).
The figure is up a fifth since the coalition government took power.
The reasons for quitting Britain are mixed. Many older expats leave for a better lifestyle and warmer climate, while younger expats are seeking better jobs paying more money in growing overseas economies.
Another set of figures from the Organisation of Economic Cooperation and Development reveals more British graduates live overseas than those from any other developed country. The study shows 1.3 million have left the UK to live abroad.
Concerns about brain drain
The research also disclosed 10% of students graduating from universities at Oxford, Cambridge, Exeter and Durham had jobs overseas – and the figure for those from St Andrew’s, Scotland, jumped to 12%.
Although some are concerned about the exodus of well-educated British graduates and executives, the exit figures are balanced by those coming to the country.
The ONS study showed 321,000 people left Britain in 2012, while the number of visas, not including tourist and transit visas, totalled just over 500,000.
Tory MP Nick de Bois has voiced concerns about Britain’s best students leaving for jobs overseas.
“The modern global jobs market lets talented professionals work anywhere in the world.” he said. “The government should tempt them to stay with lower taxes and better public services.
“The nation invests a lot of money to educate these graduates, and we should invest some time and money in convincing them to stay in Britain.”
Global shift
The MP is secretary of the right-wing 1922 Committee in Parliament.
Many would see the migration of professionals and executives to the Asia pacific as part of a global economic change that is underway.
The economies of countries in that region fared much better than those in Europe and North America during the recession and are still piling on GDP growth at a rate far exceeding that seen in the old world.
Economists expect to a shift in wealth and knowledge to the Asia Pacific as nations like China, Indonesia, Singapore and Malaysia expand, while the European Union remains languishing in the doldrums.
