New thinking from the Institute of Public Policy Research suggests that the 1,000 British people who leave the UK every single day are leaving in search of better opportunities abroad. This theory has been all but proven by data from NatWest International and the Centre of Future Studies which suggests that 90% of expats feel they are better off now that they are living abroad. So where are all the British emigrants heading for? Well, one of the most popular relocation destinations for those who want a better quality of more affordable life is Canada. In this article we explore how to be better off living in Canada.
According to the ‘wealth ranking survey’ by NatWest International and think-tank the Centre of Future Studies, Canada attracts British engineers, medical personnel, academics and teachers in abundance. Each year the nation welcomes around 250,000 professional immigrants, a large proportion of whom herald from the UK.
Data from the BBC suggests that there are at least 600,000 Brits living in Canada permanently at any one time, and British emigrants who do decide to relocate and take professional postings overseas can be upwards of 42.6% better off in real financial terms than their compatriots back home.
The average expat salary is GBP 67,000, the average UK salary is GBP 47,000 and what’s more, in nations such as Canada where the cost of living is lower and housing is more affordable, the expat salary even goes far further leading to 90% of expats surveyed by NatWest International stating that they are better off having emigrated.
The one aspect that will be of concern to any would be migrant no matter where in the world they are thinking of moving to is affording accommodation. In Canada where house prices have risen but not ridiculously in recent years, there is a robust property market built on the sound fundamentals of affordability and demand. What’s more Canadian lenders are used to the fact the nation welcomes large numbers of expats every year, the absolute majority of whom have no credit history in Canada.
As a result of this fact, it is possible for those living in Canada and heralding from another nation to get specific mortgage products based on their situation making it not only more affordable to live in Canada, but easier too!
If you’re thinking about moving abroad and want to learn more about relocating to Canada, start your search for information at the Citizenship and Immigration Canada website.