Cost of living and debt 'sending people overseas'
Cost of living and debt 'sending people overseas'
Friday 25th July 2008
Director of Shelter Offshore, Rhiannon Davies, said that the cost of living in the UK has only become an issue recently.
"Prior to this, the fact that the cost of living in many overseas destinations is more affordable and that countries like Cyprus tax pensioners far less than the UK has, in my opinion, resulted in greater numbers of retirees seeking a haven abroad," she said.
Ms Davies attributes the shift to spiralling inflation and the rising costs of existing day to day, that is now affecting working people as well as pensioners.
The Quality of Life Report, which was carried out by NatWest International Personal Banking division in conjunction with the Centre for Future Studies, compiled the findings from surveying British expatriates across the world and found that 87 per cent of expats say their life abroad is better than expected.
The report revealed that 91 per cent are happier than they were in the UK and 90 per cent are financially better off.
Britain came 37th out of 191 countries in a survey about quality of life by International Living magazine. The survey considered factors such as cost of living, culture and leisure, freedom, health and climate.
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