Brits heading abroad in search of their fortune
The NatWest International Personal Banking Wealth Ranking Survey has found that professionals looking to move to sunnier pastures can expect to be financially better off.
Of those surveyed, British ex-pats could see a 43% increase on their current salary if they relocated abroad. The average wage for ex-pats working abroad is currently £67,000 compared to the UK average of £47,000, according to the ex-pat wealth ranking.
Of the countries surveyed the United Arab Emirates tops the ex-pat wealth ranking with professionals earning a whopping average of £79,000 a year. Even Portugal, at the lower end comes in with a respectable average wage of £58,000.
However, whilst making the most money, the ex-pats surveyed in the UAE do not view the cost of living to be any different to the UK. Taking into account the perceived cost of living, those in the UAE are in fact, the least financially better off of all the countries surveyed. The survey found that ex-pats living in Spain and Italy fare the best as they not only earn a good wage but experience a lower cost of living, meaning their money works hardest for them.
David Isley, head of NatWest International Personal Banking, said: “The wage packets of ex-pats are encouraging for people who are looking to move abroad. The expat wealth rankings show that people who are willing to move abroad not only benefit from bigger earnings in countries such as Spain and Italy, but also have the advantage of a lower cost of living. This means that people living in places like Spain and Italy are financially better off overall.”