Official figures show huge Brit expat exodus from Spain

Statistics are now confirming a British expat exodus from Spain. \r\n\r\nFormerly the UK’s best-loved pensioner bolt-hole for sunshine and a low cost of living, Spain is now seeing a mass exodus of British pensioners. At its most popular in 2007, Benidorm was home to around 5,000 Britons, but by last year the numbers in the UK expat community had fallen to some 2,825. The Balearic islands of Menorca, Majorca and Ibiza are suffering the same fate, with 5,000 Brits leaving over the same period of time, bringing the total British presence down from almost 20,000 to its present-day 15,000. Recent reasons for leaving are Brexit\'s negative effect on retirees’ lives, the difficulty of being allowed to stay on as permanent residents, a possible lack of affordable, easily accessible healthcare, inflation and the state of the pound sterling as regards its exchange rate post-Brexit. \r\n\r\nAt the present moment, the pound is at its lowest versus the euro for 12 months, and is expected to crash should a no-deal Brexit become a reality. In total, Spain has lost 157,107 British expatriates during the past few years, leaving it with 240,785 and hitting hard on local British-owned businesses and revenues. In general, those who’ve decided to stick it out and see what happens are struggling to get by on their pensions due to the weakening exchange rate, and British-owned businesses are closing due to a lack of customers. \r\n\r\nThose remaining fear the effects of Brexit, especially if there’s no agreement, with many cutting back on their spending just in case they need to leave in a hurry before they’re able to release capital by selling their properties. It’s not known whether the huge fall in British expat resident numbers represents those returning to the UK or whether a proportion have moved on to destinations outside the EU. One thing’s for certain is that Spain, unlike France, hasn’t yet made any reassuring noises regarding expat rights after Britain leaves the bloc.