More people than ever moving overseas

The latest ONS statistics released today reveal even more people than ever leaving the UK with Australia remaining the top destination for Brits to escape to. However according to currency specialists HiFX Australia ranks third in the top ten most stressful countries to move to, so anyone considering taking the plunge and moving ‘down under’ should make sure they don’t underestimate just what it takes to move overseas.

In response to more and more people emigrating each year, HiFX, in association with leading psychologists and mathematicians, examined the issues of moving abroad and created a formula to rank the most stressful emigration destinations. The study revealed that culturally similar countries like Australia are not as stress free for Brits to move to as they appear. In fact hidden hurdles psychologically cause the most stress and catapult South Africa to the top of the stress barometer hotly followed by America and Australia.

Despite a laid back English speaking culture Australia has an unfamiliar and complex tax system. A long and uncertain visa application process also means émigrés must take additional steps to ease the stress of a move there. Plus, the Australian dollar is a commodity currency making it extremely volatile which can significantly affect people’s future wealth if they do not fix their exchange rate when transferring assets.

The stress of moving abroad formula assessed the top ten emigration destinations against ten factors that contribute to the stress of moving. Leading psychologists assessed the causes of stress and weighted the factors accordingly. Based on this analysis, mathematicians devised the following formula to determine each country’s stress score:

(((CSx10) + (LEx9) + (Cx7) + (QLx6) + (SSx4) + (Dx4) + (Lx2) + V + T + CI) / 5) + 10

CS is Civil Stability
LE is Legalities
C is Currency
QL is Quality of Life
SS is Social Services
D is Distance from the UK
L is Language
V is Ease of visa application process
T is Tax System
CI is Cultural Idiosyncrasies

Country - Stress Ranking

South Africa 1
USA 2
Australia 3
Southern Cyprus 4
Canada 5
Italy 6
Spain 7
New Zealand 8
France 9
Germany 10

Mark Bodega, Director at currency specialists HiFX, who help over 30,000 people buy property and emigrate abroad each year, comments, “Moving abroad isn’t just about moving your belongings and pursuing a new lifestyle. Decamping to a different country means getting to grips with a whole new way of living – from the language you’ll be speaking, to the money you’ll be spending. Many of us don’t fully understand the tax and legal systems in this country, however the same lack of knowledge as a foreign national abroad could lead to problems. With so much to think about when packing up and setting off, people should make the most of all the assistance available from specialists such as tax advisers, and removal experts. Emigrating can mean the start of a fantastic life abroad so it is important that people mitigate any potential stress caused by the actual moving process”

Dr David Lewis, leading psychologist with The Mind Lab, explains “Stress levels are based on the degree of control people are likely to be able to exert over a situation - the less control, the higher the potential for stress. Moving to a country with several issues beyond a person’s influence naturally increases the potential for stress. Whilst learning a new language can be daunting it is not insurmountable whereas civil instability and complex legal systems are beyond an individual’s control.”

South Africa most stressful: With high unemployment, increasing crime levels and complex rules relating to the sale of any property, South Africa scores particularly highly on civil instability and legal issues.

Germany least stressful to move to: However Germany, not traditionally thought of as a laid back nation, is the least stressful country to move to. With easy links back to the UK, a stable currency and great social services Germany is most likely to herald émigrés dreams of a more relaxed life abroad.

Be Prepared!

Mark Bodega adds “When moving aboard it is vital to investigate your intended destination and take steps to make the process as easy as possible. Think about the move as early as possible and seek professional assistance.”