British middle class brain drain as professionals head abroad
Research undertaken for the Home Office has revealed that almost 50 per cent of migrants are professionals, with the size of the exodus possibly threatening Britain’s supply of highly-skilled staff. A combination of better weather, a more enjoyable work/life balance and greater opportunities for career advancement has seen a significantly increasing number of academics, company directors, scientists and doctors leaving the UK for fresh fields overseas during the last 20 years.
Business leaders are blaming high tax rates and living costs plus the slow economic recovery for the rapid increase in the number of migrants. In 2011, almost 150,000 British citizens left the UK for Canada, the USA and Australia, with a total number of 4.7 million living abroad. Over the last decade, concerns have been raised over the number of highly-qualified professionals leaving, as this group is likely to stay overseas for many years.
During 2010, 48 per cent of migrants were from professional backgrounds, compared to only 37 per cent in 1991, with Britons moving jobs to major US corporations in New York usually returning to the UK after three years. Conversely, scientists emigrating to work in US biotechnology and pharmaceutical companies in Boston stayed away for an average of 12 years.
Director-general of the CBI John Cridland said he hoped proposed tax cuts would cause professionals to reconsider, calling the report’s figures disturbing. He added he was certain that the high tax rates of the last few years were to blame, and hopes the present Chancellor’s moves to cut taxes would stem the tide of emigrants.
The report also suggested that emigration was as much a lifestyle choice as a financially-based decision. It also warned that the rise in university fees announced last year could spark an exodus of talented undergraduates to less expensive foreign universities.
Related Stories:
- Is Kuwaitization the unintended result of the oil price crash? - July 20, 2020
- Expats in Malaysia still banned from overseas travel - July 17, 2020
- HSBC Asia to cut back on internal expat relocations - July 16, 2020
- Tips on integrating for newly-arrived expats - July 15, 2020
Latest News:
- Tips on a trouble-free relocation as an expat overseas - July 20, 2020
- Expats find peace in the covid-19 refuge of Dahab town - July 20, 2020
- Is Kuwaitization the unintended result of the oil price crash? - July 20, 2020
- Expats unhappy abut changes to Korean points-based visa system - July 17, 2020
- Chiang Mai and Bangkok no longer bargain locations for expats - July 17, 2020
- Expats in Malaysia still banned from overseas travel - July 17, 2020
- Vietnam welcomes expats to its safe, affordable lifestyle - July 16, 2020
- Asian tiger economies reach out to expats in Hong Kong - July 16, 2020
- HSBC Asia to cut back on internal expat relocations - July 16, 2020
- Tips on integrating for newly-arrived expats - July 15, 2020