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Prospective expatriate insurance customers should consider the cost of living in their new country of choice before relocating, it has been claimed.
According to Peter Ellis, chief executive of Foreign Currency Direct, many people look at the climate and cost of property but fail to think about how expensive it will be to live abroad.
He noted that with the decline in value of sterling and the economic downturn in the UK, day-to-day expenses could be an important thing for overseas insurance policyholders to think about.
"When considering a move abroad, Britons should not only consider the quality of life and cost of property overseas, they should also be aware of significant variations in the cost of living."
Mr Ellis highlighted New Zealand and Australia as two of the best countries in the world in terms of value for money.
This comes after human resources consultancy ECA International conducted a survey that revealed Sydney to be one of the top destinations for Asian expatriates.
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