Almost everybody knows someone who dreams of retiring to a place in the sun. A little whitewashed villa in a sun-kissed Spanish town with a small pool and a vineyard out the back is a fitting reward
July 18, 2007 (Press Release) --
Almost everybody knows someone who dreams of retiring to a place in the sun. A little whitewashed villa in a sun-kissed Spanish town with a small pool and a vineyard out the back is a fitting reward for a lifetime's hard work after all. However, it isn't just those that are approaching retirement that are beginning to look abroad.
New research shows that there are a perhaps surprising number of adults from all age groups that are looking at leaving the UK for pastures new. A study by Bank of Scotland International found that more than three in ten workers under the age of 25 have considered moving abroad.
Tony Wilcox, managing director at Bank of Scotland International, said the findings debunk the popular misconception "that it is only the older generation that consider moving abroad or buying property abroad".
Nearly 50 per cent of those between the ages of 25 and 44 have given the idea some thought, rising to nearly 60 per cent of those between the ages of 45 and 54. This actually drops slightly for adults approaching or just past retirement age, with three in ten still thinking about leaving the UK and the rest presumably happy - or resigned - to stay.
The bank also undertook to find out what the most popular destinations were for those that were leaving Britain for pastures now. Australia was a very popular destination for the younger age groups, with its lure of sun, a better lifestyle and a culture not too different from the one they had grown up in.
However, in terms of European destinations, Spain and France were the clear winners. Every age group had one of those two countries at the top of their list of desired destinations. For those aged between 35 and 44 years old, it was actually a dead heat as to which country they would prefer.
Another popular country was Portugal, Spain's neighbour on the Iberian peninsula. It is becoming more attractive to movers and investors as a lot of money is being spent on upgrading facilities and infrastructure. Portugal was recently given a €21 billion grant by the EU to invest in development.
Rob Shaw, marketing manager for Spanish Algarve Properties , said: "In the face of some tough competition from emerging property markets, Portugal still maintains its high rank in the list of favourite destinations, with estimates that over 200,000 British already own a property there. This is a staggering figure and it actually accounts for 11% of all UK buyers abroad.
New research shows that there are a perhaps surprising number of adults from all age groups that are looking at leaving the UK for pastures new. A study by Bank of Scotland International found that more than three in ten workers under the age of 25 have considered moving abroad.
Tony Wilcox, managing director at Bank of Scotland International, said the findings debunk the popular misconception "that it is only the older generation that consider moving abroad or buying property abroad".
Nearly 50 per cent of those between the ages of 25 and 44 have given the idea some thought, rising to nearly 60 per cent of those between the ages of 45 and 54. This actually drops slightly for adults approaching or just past retirement age, with three in ten still thinking about leaving the UK and the rest presumably happy - or resigned - to stay.
The bank also undertook to find out what the most popular destinations were for those that were leaving Britain for pastures now. Australia was a very popular destination for the younger age groups, with its lure of sun, a better lifestyle and a culture not too different from the one they had grown up in.
However, in terms of European destinations, Spain and France were the clear winners. Every age group had one of those two countries at the top of their list of desired destinations. For those aged between 35 and 44 years old, it was actually a dead heat as to which country they would prefer.
Another popular country was Portugal, Spain's neighbour on the Iberian peninsula. It is becoming more attractive to movers and investors as a lot of money is being spent on upgrading facilities and infrastructure. Portugal was recently given a €21 billion grant by the EU to invest in development.
Rob Shaw, marketing manager for Spanish Algarve Properties , said: "In the face of some tough competition from emerging property markets, Portugal still maintains its high rank in the list of favourite destinations, with estimates that over 200,000 British already own a property there. This is a staggering figure and it actually accounts for 11% of all UK buyers abroad.
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