Whilst the majority of this upsurge tend to be what society class as ‘young professionals’, many claim that the reason for their interest in emigration is simply because they have nothing holding them back in their home country. For example, millennials have significantly less spending power than their parents, of whom many had bought a property at a young age. Today, the chances of the younger generation purchasing a home without significant financial help looks bleak for many. Therefore, many young professionals are leaving their birth countries in hope of securing a home abroad or at least being able to rent comfortably and benefit from a better standard of living.
Part of MoveHub’s Global Moving Trends Report is the Attitudes Towards Moving Survey. 20,000 millennials responded to the survey, giving the want for better job opportunities and increased salary as the primary motive as to their desire to start a new life overseas.
Rather than simply considering a move for better weather, 18 to 35-year-olds are much more concerned about their environment, lifestyle and career path.
Once considered the ‘big three’ expat havens for millennials, expat figures for the UK, US and Australia have decreased. The UK has seen a 22% drop in expats, with the US following behind at a 10% decrease, and Australia at 6%. Many of those who responded claimed that cities in these three countries were too expensive to live in.
Whilst the report discovered that New York, London and Sydney were undoubtedly the most popular cities with expats, many unexpected countries shot to popularity in early 2017 with expats. The islands of Reunion and Guadeloupe have seen a 153% rise in expats. However, the majority of these moves tend to be French retirees seeking sun and a slower pace of life.
In terms of popular cities with millennial expats, trendy European destinations such as Amsterdam, Berlin and Paris are up there on the list.