Over Half Of Young Adults In Europe Want To Work Abroad

A recent survey has revealed that the majority of young adults in Europe would want to work abroad at some point in their future, with Iceland having the highest number of young people looking to work abroad.

London, UK (Pryce Warner International) June 2nd, 2011 – 53% of respondents said they would consider leaving their native country for employment with 25% saying that they would be happy to move for an extended period of time. The survey was conducted by the latest Youth on the Move report by the EU.

Scandinavian, Nordic and Eastern European countries had the most young people willing to relocate with 84% of Icelandic people, 76% of Swedes, 74% of Bulgarians, 73% of Romanians and 71% of Finnish people saying they would move. However in Belgium, The Netherlands, Turkey and Italy this proportion was only 28%.

Those most likely to be willing to move were males between the ages of 15 and 19 who were currently in education and living in metropolitan areas. The study also revealed that the higher level of education completed the more likely someone was to be willing to work abroad. It was suggested that this was due to the fact that those who had completed high levels of education were often bi-lingual and were more optimistic about their overseas employment prospects.

The most commonly cited reasons for wanting to move abroad were better educational opportunities and language skills, as well as the chance to better understand other cultures. With more and more large companies becoming increasingly global, it was also suggested that working abroad would help their long-term career prospects.

David Harra, a Senior Market & Investment Analyst with Pryce Warner International Group, a financial services company for Expats worldwide commented: “It is encouraging to see that young people are more and more willing to move abroad as this shows a greater sense of global awareness as well as respect and curiosity for other cultures. Considering how many young people have grown up in a exceptionally global world where they can instantly communicate with others around the world, it is perhaps unsurprising that so many people would have little or no second thoughts about working overseas. Moving abroad can occasionally be difficult and removing yourself from your usual comfort zone can be a tricky adjustment. It is highly important to prepare yourself very carefully when moving abroad and especially to ensure that your finances are taken care of. Regardless of age, arranging your finances in more than one country and ensuring that all the necessary taxes are paid can be a minefield. Anyone considering moving overseas for work should always consult friends and relatives who have done it before and/or professional overseas financial advisors. Moving overseas is a fantastic opportunity and professional financial advice can help ensure your international financial stability.”

Pryce Warner International Group provide International Asset & Investment Management, Independent Financial Advice & QROPS Overseas Pensions.

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By: Aneil Fatania
Financial Editor
Pryce Warner International Group
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