The prospect of living through a recession is driving more than 400,000 over 50s Brits to consider packing their bags and leaving the UK for good to improve their financial position, according to new research from RIAS, specialist insurer for the over 50s.
The RIAS survey also reveals that given the UK's prospects - which are expected to include more falling house prices, falling living standards, an economy set to contract and a 25% rise in unemployment - more than 1 in 10 of the over 50s, in addition to the 400,000 already planning to leave, are at present seriously considering emigrating in response to the economic downturn at home.
RIAS’s Janet Connor says, "The obvious draws of expat life are clear for all to see. More often than not there is cheaper property, a better climate, and a lower cost of living as well as the considerable health benefits of a Mediterranean diet and pace of life. There is also the fact that the EC expects the economies of other mature EU countries like France and Spain and Italy to begin a gradual recovery as early as the second half of next year, so emigration becomes an even more attractive solution."
International health insurance: News update: November 2008