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Expats hit in the pocket

12 March 2009 Breaking News

Over half of expatriates have noticed a decrease in their disposable income since Janurary 2008, according to a survey from Halifax International.

The 'expat mood monitor', a survey of more than 1,000 people living all over the world, shows that almost two-thirds (62%) have seen a decrease in their overall investment portfolios.

Nevertheless, 63% of expats believe that the economic situation in their current country of residence is better than in the UK.

Property abroad has suffered to a lesser extent than in the UK, with one third of expats (33%) stating that the value of their property overseas has remained the same since January 2008. Over half (54%) of expats have reported no change in their rent payments overseas.

However, almost nine out of ten (88%) expats have seen an increase in the amount that they are paying for food and over half (52%) have noticed an increase in price of 10% or more.

James Gairdner, managing director of Halifax International, said: "These figures demonstrate that it is now more important than ever that expatriates are not only provided with more competitive, available and secure saving options, but also have access to the right financial advice when they are overseas. This will enable them to make the most of their investments."

The research also revealed that 41% of expats living around the world have no plans to ever return to the UK, citing a better quality of life and their work as the prime factors. One in four said they missed "nothing at all" about the UK.

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