While expats in the UK and Europe are labouring under worries about economic volatility these concerns are not bothering them enough to prompt a move, according to the 2012 Expat Explorer survey by HSBC Expat.

Worries are certainly running high among expats in the UK, as 36 per cent believe that the UK is “heading off on the wrong track” – a figure which is nearly double the global survey average of 19 per cent. Similarly, 68 per cent of expats living in the UK feel unhappy with the current state of the economy, versus 37 per cent for expats globally.

Despite these worries, a significant majority (71 per cent) of the UK’s expats indicate that they are staying for the long-haul, while only 7 per cent say they are actively looking to leave. In contrast, this figure is 13 per cent globally. For those looking to move away from the UK the rising cost of living was cited by close to half of those surveyed (48 per cent) and the negative economic outlook was singled out by 44 per cent. Globally, the equivalent figures were 35 and 20 per cent.

Interestingly, even more “stickiness” to their adopted country was seen among expats in Spain. While a massive 92 per cent of those surveyed said they were unhappy with the state of the Spanish economy HSBC found expats in the country to be the least likely to be planning a move “with no expats from the survey actively looking to leave the country.”

“While expats in Europe are feeling the impact of the economic turbulence that has taken hold across much of the eurozone, this year’s findings show they have strong ties to their current country of residence. Wider concerns, such as the current state of the economy, appear to have had little effect on their desire to continue living and working there,” said Dean Blackburn, head of HSBC Expat.

UK allure

The Expat Explorer survey – which is now in its fifth year – also aims to rate locations in terms of their “expat experience” and it is interesting to note that for 2012 the UK stands in eighteenth place, rising from twenty-ninth in 2011. Nearly half (49 per cent) of UK expats agreed that it was easy for them to make local friends and only 26 per cent reported spending more time with expat friends rather than locals. Furthermore, 71 per cent said they had integrated well within the local community and most (65 per cent) feel welcomed at work. Their lovelives also seem to be going well, with almost half (48 per cent) finding a life partner while abroad, compared to only a global average of one third (33 per cent).

Unsurprisingly perhaps, given the UK’s bumper year of events like the Olympic games and Diamond Jubilee celebrations, the UK also rated highly in terms of cultural attractions. Some 58 per cent of expats said that they enjoy the local entertainment on offer in the UK (globally the figure was 45 per cent); meanwhile, 65 per cent of expats in the UK would say it is a “culturally interesting place to live” and 85 per cent said they were happy to enjoy the local culture.

When examining the type of expats that are attracted to the UK, the country is most popular with middle-aged expats. Nearly half (46 per cent) of those moving to the UK to live and work are aged 35-54. Nearly one in ten expats living in the UK are from the US or Ireland (9 per cent each) with those from Australia, South Africa and India also comprising a large proportion of the UK’s expat population (6 per cent each).

Looking the other way, at those who have decided to leave the UK for better prospects, HSBC Expat found that Britons abroad are a lot older than expats in general. Of the British expat community two-thirds (38 per cent) are aged 55 and over compared to just 22 per cent of expats in that age group worldwide. What’s more, British-born expats are more likely to be retired - one in five (17 per cent) - compared to one in ten (9 per cent) overall.

HSBC Expat’s annual Expat Explorer surveyed 5,339 expats, 1,078 of whom are living in the UK, from nearly 100 countries worldwide (the largest sample to date).