Last updated at 08:55, Tuesday, 13 May 2008

British professionals could boost their salaries by more than 40 per cent by relocating abroad, research has revealed.

Money matters

The average professional could earn £67,000 by working overseas, compared with around £47,000 if they stayed in this country, according to NatWest International Personal Banking.

UK expats can earn the highest salaries in the United Arab Emirates, at an average of £79,000, followed by £76,000 in Italy and £73,000 in France.

But even in Portugal, which comes at the bottom of the salary table, professionals can still expect to earn more than in the UK, at around £58,000.

The research, which was carried out with the Centre of Future Studies, found that 68 per cent of people found the cost of living abroad was cheaper than in the UK, with this most likely to be the case in Spain, New Zealand and Norway, where more than 90 per cent of people thought living costs were cheaper.

But at the other end of the scale, no-one in the United Arab Emirates thought prices were cheaper there than at home, while just eight per cent of people thought this was the case in Singapore.

Eight out of 10 expats said they had a greater sense of wellbeing after relocating abroad, while 68 per cent felt healthier and 91 per cent said they were happier. Overall, 99 per cent said they had made a good decision to live abroad and 61 per cent said they had no reason to return to the UK. David Isley, head of NatWest International Personal Banking, said: “The wage packets of expats are very encouraging for people who are looking to move abroad. The expat wealth rankings show that people who are willing to move abroad not only benefit from bigger earnings in countries such as Spain and Italy, but also have the advantage of a lower cost of living.

“This means that people living in places like Spain and Italy are financially better off overall.”

First published at 13:41, Thursday, 03 April 2008
Published by http://www.cumberlandnews.co.uk