High cost of living pushes younger adults to emigrate

Younger adults consider moving abroad due to rising cost of living, while over 55s cite bad weather, it has been revealed.

Almost a third of the UK public (32 per cent) would consider relocating abroad due to the rising cost in living, a survey has found. The study, conducted by Bishop’s Move the UK’s largest privately owned removals company, also found that the when it comes to motives for moving abroad, a significant proportion of younger adults are feeling the pinch of increasing living costs and would leave the country for this reason. However, those 55 or over – the baby boomer generation – are more likely to cite the country’s bad weather for emigrating abroad.

As unemployment rates soar and financial problems mount due to rising inflation, the research, conducted amongst 1000 respondents, reveals that a significant percentage of the future UK workforce will consider leaving the country behind.

Thirty-six per cent of those aged between 25-34 and 32 per cent of those aged 25-44 will consider emigrating and starting a new life and career abroad due to escalating basic living costs.

However, when it came to the older generation, just 24 per cent of those surveyed aged 55 or over would blame rising costs as the reason they’d leave these shores, despite recent research from SAGA which revealed living costs had risen more sharply for those below retirement age than what is commonly believed.

Other results from the survey revealed 10 per cent of the UK public will consider leaving due a lack of trust in the current Government and nine per cent would leave due to anti-social behaviour issues.

Bishop’s Move comments on the findings: “A lot has been made about how the current high costs of living are affecting the baby boomer generation and impacting their retirement plans, however it seems it is younger adults who are actually willing to leave the UK behind for this reason. Let’s not forget many are just finishing their education, many more hope to start a career, and some are struggling to get onto the UK workforce.

“If the Government goes ahead with its five pence-a-litre fuel rise in April, that will be two price hikes in four months along with the VAT increase. It’s of little wonder that some people are feeling doubtful about their futures on these shores. If the Government isn’t careful, we could lose a generation seeking a more financially stable life abroad.”