Apps and social media are helping expats keep in touch with their families and manage their finances more than ever.
As accessing the internet by mobile phone, tablet and computers becomes ever easier in even the remotest locations, the internet is becoming an important lifeline for expats.
So much so that three quarters of expats with internet access are monitoring their finances with apps and nearly one in four are managing their money with online banking.
A study by NatWest International reveals older expats still have trust issues with the internet and are not so willing to embrace exchanging financial information through online banking.
The research shows only 6% of older expats engage with online banking, even though older mobile users make up a quarter of the entire phone market.
Keen on gadgets
According to the report, British expats are keen on technology and gadgets:
- 90% own at least three technology gadgets
- Favourite gadgets are – computers (91%), smart phones (87%), laptops (83%), tablets (53%) and notebooks (48%)
- Gadget ownership varies between countries – expats in the US seem more technologically minded (97%) and own more gadgets than their counterparts in China (90%), Spain (84%) and South Africa (81%).
- Half of expats owning three or more devices (58%) are aged between 25 and 45, while only 10% of the over 55s have as many gadgets.
Most expats (78%) say technology keeps them in touch with families and friends wherever they are in the world. Two-thirds added going online helps them organise their lives better.
Around 80% of British expats belong to Facebook and Twitter, while two-thirds enjoy Google+.
Broadband is changing the world
Dave Isley, of NatWest International explained social networking online had changed the way expats keep in touch with their contacts and also gives them an opportunity to meet other expats who also live near them.
“Time and distance do not matter when you have social media. In most countries internet access means no limits on uploading and sending media or speaking on a web cam via sites like Skype” he said.
“People from different countries can all meet and see each other online even when on the move with smartphones.”
The study also found that many expats check out foreign exchange rates, book trips and generally manage their finances online.
Some even go further and have access to secure trading platforms to monitor and trade investments.
“The internet and fast broadband is making the world smaller and changing the way we interact with our families and businesses,” said Isley.
