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27% of Young Brits Set for Expat Life Due to Brexit

UK-based foreign exchange and payments company Moneycorp surveyed 2,000 Brits in regards to their post Brexit-plans. The company commissioned the survey to discover what was influencing individual’s decisions to move abroad since the result of the EU referendum was announced.

The research revealed that Brits of all ages are considering a move abroad the closer we get to leaving the EU, with 15% stating this is a likely plan. Just over a quarter of young Brits aged 16-24 have emigration in the forefront of their minds due to Brexit. Two in twenty in this age bracket have already put in place solid plans for their expatriation.

Considering that 75% of the 16-24 age group voted to remain within the EU it is not surprising that the appeal of studying or working overseas has been a popular option now that Brexit is well underway.

In general, Brits blamed inflation, the weakening of sterling and increased living costs as major factors for their choice to head overseas. 40% of those asked felt they would receive a better quality of life overseas due to receiving a higher salary and benefitting from cheaper living costs.

When focusing on the 16-24 age group, 58.8% cited career benefits as the major pull of a move abroad. They believe that working overseas presents promotion opportunities not found at home and boosts your CV should you wish to return. Nearly half of young people surveyed suggested that UK employers should encourage Brits to work abroad and 21% of the age bracket are considering emigrating purely for work purposes or have concrete plans to do so before the UK finally withdraw next year.

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