quality of life

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Expats Top Concerns When Moving Abroad

November 16, 2010 in Integrating Abroad, Moving Abroad Tips by Paul Allen | 1 comment

What are your biggest worries about moving abroad?

Is it finding or settling in to a new job? Making your retirement savings stretch far enough to provide a decent quality of life? Having a healthcare system that is up to scratch? Getting your children into good schools?

According to Expat Experience[1], the latest report in HSBC’s Expat Explorer series, the top concerns keeping expats awake at night prior to relocating are:

  • Being able to re-establish a social life (41%)
  • Feeling lonely, and missing friends and family (34%)

 

The survey also found these worries affected female expats significantly more than men.

Meanwhile, missing family and friends is a particularly big concern for expats based in Australia (49%) and Canada (46%) – not surprising, since the majority were from the UK originally, and so the distances involved make regular face-to-face contact difficult.

Overcoming concerns

Such emotive issues have an obvious link – if you are worried about establishing a social life in your new destination then you are more likely to miss the existing network of family and friends you have back home.

On the flip side, if you can form strong friendships and develop a bustling (and satisfying) social life once you move abroad then you are less likely to be lonely and dwell on what you have left behind.

In short, once you land in your new location you have to make a concerted effort to get out, meet people, make friends and take advantage of whatever exciting lifestyle opportunities the country has to offer.

It’s not always easy to do. Sometimes you may have to force yourself to step out of your comfort zones. But the success of your expat venture depends on it.

[1] Expat Experience is the second of three reports from HSBC’s 2010 Expat Explorer research series, http://www.offshore.hsbc.com/1/2/international/expat/expat-survey/expat-experience-report-2010

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European Quality of Life Advantages Called Into Question

October 18, 2010 in Expat Advantages, Expat Locations, France, Living Abroad Pros and Cons by Paul Allen | No comments

So France has the best quality of life in Europe. Or at least that was the finding of a recent study by consumer comparison service uSwitch.com, as I highlighted in a recent posting[1].

I imagine the residents of France may be thinking something different as this week’s round of strikes and protests gets underway.

News reports say the strikes are set to widen to include a range of sectors, including road transport, energy, posts, telecommunications and public service. The industrial action has brought fears of fuel shortages as workers at oil refineries walk out, and rail chaos as train staff join in, threatening to bring the country to a standstill.

The protest has been spurred by moves to raise the minimum retirement age from 60 to 62, and the full retirement age from 65 to 67 years – a change that rather undercuts one of the advantages of French life highlighted by the uSwitch.com survey. The government claims it is needed to prevent the country’s pension deficit from spiralling out of control and threatening the system as a whole.

In total, Nicolas Sarkozy’s government has announced plans to cut spending by €45bn over the next three years in a bid to meet its budget deficit target.

 

Meanwhile Spain, which came second in the uSwitch.com quality of life rankings, has seen unemployment more than double (to about 20%) since 2007. In a bid to curb its budget deficit, the government is raising the top level of income tax and introducing a range of austerity measures for 2011 designed to cut spending by 8%.

Of course, the UK faces its own economic difficulties – as, for that matter, does the United States. But if you’re aiming to escape your home country’s problems and find a better quality of life by moving abroad, it’s important to remember the grass is not always greener on the other side.

[1] http://expatliving101.com/living-in-spain/what-quality-of-life-can-you-expect-abroad/

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What Quality of Life Can You Expect Abroad?

October 8, 2010 in Expat Advantages, Expat Locations, France, Living Abroad Pros and Cons, Living in Britain, Living in Spain by Paul Allen | 4 comments

We’ve long suspected it, and now it appears to be true – the French, those lucky blighters, have the best quality of life in Europe.

Or, at least, so says a new study by consumer comparison service uSwitch.com[1].

Its research examined 16 quality of life factors – such as net income, food and fuel costs, life expectancy and working conditions – across 10 European countries to see how they stacked up.

France emerged with the best overall score, followed by Spain. The UK came ninth, with Ireland propping up the bottom of the table.

The reason for the UK’s poor score, said uSwitch, included its high living costs, below average government spending on health and education, shortage of holiday entitlements, high retirement age and lack of sunshine.

France, by contrast, was found to have the lowest retirement age, the longest life expectancy and the highest healthcare spend.

Meanwhile, Spain benefited from low living costs (especially for alcohol and cigarettes!), the highest number of holidays (at 43 days per year) and most sunshine hours.

The firm went on to note that three in ten people in the UK believe now is a good time to emigrate[2]. Given the low quality of life it seems they can expect to enjoy, is it any wonder?

The Full Picture

Yet before everyone starts packing their bags for France and Spain, it is important to remember that while such surveys make for attention-grabbing headlines, they don’t show the full picture.

For instance, the uSwitch report gives no consideration to the countries’ current or expected economic growth rates. Or what about the 20% unemployment rate afflicting Spain?

It gives no weighting either to the burdensome red tape that is so often cited as a feature of life in France and Italy.

The percentage of GDP spent on health is a blunt tool too by which to measure and compare the efficacy of countries’ systems. The United States, for one, spends a considerably higher percentage of its GDP on health, yet millions of its citizens remain without adequate, or indeed any, health cover.

The uSwitch survey also takes it as given that the greater the hours of sunshine the better. Yet the impressive sunshine quota seen in southern Europe – as well as places such as California and parts of Australia – bring with it high summer temperatures that frequently provoke raging forest fires, water shortages, pest infestations and crop failures.

In addition, the summer heat may force residents, especially the elderly, to spend weeks of the year trapped indoors, and can even lead to spiking death rates (as seen in Europe during the 2003 heatwave).

In short, these types of reports and surveys – a plethora of which are produced around the world each year – can give some helpful indication of the life you can expect to find when moving abroad. But to get a real picture, don’t forget to consider all the elements, the pros and the cons, and what they mean specifically to you.

[1] UK and Ireland Trailing the Rest of Europe for Quality of Life, uSwitch.com, 22 September 2010, http://www.uswitch.com/press-room/press-releases/uk-and-ireland-trailing-the-rest-of-europe-for-quality-of-life-1769.pdf.

[2] uSwitch.com Consumer Opinion Panel, May 2010, amongst a sample of 3,640 adults.

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Swiss Watch

July 9, 2010 in Expat Locations by Paul Allen | No comments

Alan Howard, founder of leading hedge fund Brevan Howard Asset Management, has joined the expat ranks.

Recent reports say Howard, who is swapping London for Geneva, is among a number of financial luminaries to have left the UK. And there are fears many more will follow, driven by concerns about rising tax rates, a less attractive business environment, and quality of life issues.

Certainly Geneva has its attractions. Low tax is an obvious one, especially for those wealthy City types. For example, alternative investment managers (i.e. those at hedge and private equity funds) can obtain a special tax status that enables them to discount chunks of their taxable income. Indeed, Switzerland as a whole offers many tax advantages.

Then there are the lifestyle benefits – the proximity of world-class ski resorts, sailing on the country’s many lakes, the beautiful scenery, its excellent environmental record, high quality health and education systems, etc, etc.

And that is backed up by Mercer’s 2010 Quality of Living survey, which put Geneva third in its global rankings, one place behind Zurich[1].

The flipside is that Geneva also ranks as one of the most expensive cities in the world, coming in fifth in Mercer’s recently released Cost of Living survey[2].

With a reported fortune of £875 million that won’t faze Alan Howard. Still, it might give the rest of us pause for thought.

[1] Mercer 2010 Quality of Living survey, 26 May 2010 http://www.mercer.com/qualityofliving

[2] Mercer Worldwide Cost of Living survey 2010 – City rankings, 29 June 2010, http://www.mercer.com/costoflivingpr#City_rankings

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Looking for Quality of Life?

June 4, 2010 in Expat Locations by Paul Allen | No comments

Having just come back from a conference in Vienna I got a little reminder of what the Austrian capital has to offer.

As a leading centre of European culture for hundreds of years, it is a city steeped in history and beauty. In spite of the bombing endured in World War II, Vienna remains an architectural delight – so much so that in 2001 the city centre was designated a UNESCO World Heritage Site. There are also world-class museums, fine parks, a rich musical tradition, and a multitude of wonderful cafes and restaurants.

Quality of Life Survey

I wasn’t surprised, therefore, to learn that Vienna claimed the top spot in the Mercer 2010 Quality of Life Survey, released last week[1].

The survey evaluates 420 cities worldwide, assessing the living conditions across 10 categories, which include the political and social environment, the economic environment, health and sanitation, schools and education, and recreation.

Having also come first in Mercer’s 2009 survey, it seems Vienna is cementing its status as the city offering the world’s best quality of life.

Meanwhile, Europe as a whole had 16 cities amongst the top 25 in the world. It underlines just how much the continent has to offer for prospective expats.

Happy Living

So what does all this mean for expatriates? Well, it is a useful guide into the ease of life you can expect to find when moving abroad to a new city.

For instance, while in Vienna a couple of weeks ago I got talking to two guys – one from Spain, the other from Colombia – who have both moved to Geneva. Their comments about the life they lead there certainly chime with its 3rd-place ranking in the Mercer survey.

But when looking at reports like Mercer’s there are a couple of provisos to bear in mind:

1)      By their nature, such considerations as quality of life are subjective. Mercer goes to great pains to compile valid statistical comparisons across its 10 life assessment categories. But these won’t necessarily mirror your judgements or priorities. (Furthermore, you may not even want to move to a foreign city, but instead plan to be by the beach or in the rural hinterland, where the situation may be very different to the country’s urban centres.)

2)      Quality of life ? happiness – it may be a contributor, and an important one, but happiness comes from a broader range of factors.

But that’s a topic for another time.

[1] Mercer 2010 Quality of Living Survey, released 26 May 2010 , http://www.mercer.com/qualityoflivingpr#City_Ranking_Tables

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