People living abroad could benefit from a 43% increase in their wages with the average salary for expats £67,000 compared to the UK average of £47,000.
A survey by NatWest International Personal Banking found that higher salaries and a lower cost of living abroad meant many expats are financially better off living overseas than they would be staying put in the UK.
Of the countries surveyed, the United Arab Emirates comes out top with expats earning an average salary of £79,000 a year. Expats working in Italy and France can also expect to earn more than they would in the UK, with the average salaries £76,000 and £73,000 respectively.
In many countries a reduced cost of living means expats are financially better off. Among expats living in Spain, 95% of those surveyed estimate the cost of living is cheaper.
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 shows 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.”
Moving abroad is a big lifestyle change. You not only have to uproot yourself, your family and your worldly possessions, but also your finances.
If you are thinking about starting a new life abroad but are concerned about how the move will impact your pension, tax obligations or savings then join our live webchat next Monday 31 March at 1pm with emigration experts from HiFX and Prism Xpat.
Post a question to the experts in advance
|Country||Average income of survey respondents||Country||Respondents who report lower cost of living |
| Source: NatWest International Personal Banking |