British expats are being forced to return home due to the continuing weakness of the pound, reports indicate.
According to statistics produced by reallymoving.com, there has been a 37 per cent increase in the number of expats returning to Britain in the past year, with many of those living in the eurozone put under unmanageable strain by the strong euro.
Commenting on the figures, Emigrate.co.uk highlighted the problems that retirees have had in managing living costs.
"Expats who once saw a move as a prime opportunity to snap up cheap property overseas are now suffering from depleted equity, particularly given that pension funds are still paid out in pounds," the site claimed.
In a separate article, the expat portal also reported that expats in Asia are struggling to cope with the decline of the dollar, as the greenback has long been a mainstay of the region’s economy.
Older expats of all nationalities may do well to pay particular attention to securing adequate overseas medical insurance cover as this will help to avoid exposure to spiralling care costs should any sustained treatment be required.
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