A fifth of Britons want to retire to Spain

18th August 2006, Comments 0 comments

18 August 2006, LONDON — One in three Britons want to retire abroad with the Spain most popular choice of country, it was reported Friday.

18 August 2006

LONDON — One in three Britons want to retire abroad with the Spain most popular choice of country, it was reported Friday.

A survey suggested Britons no longer want a bungalow in a suburb or a seaside resort of the kind that would have satisfied their parents.

Instead millions want to escape from work to find travel, adventure and a sense of sophistication rather than a future pottering in the garden, the British Daily Mail reported.

The findings from a pensions industry study add to growing evidence that the flood of Britons leaving the country is now greater than at any time since the 1970s.

They suggest both that a huge number of people are anxious to find warmer, more exciting and less heavily taxed places to live in retirement, and that many of them have the means to do so.

Paul Shelley of Clerical Medical, the company that carried out the survey with ICM Research, said: "The future retiree has great aspirations for travel, career, hobbies, and for things like buying new cars - one in six see themselves driving sports cars."

Almost all want to travel even if they do not want to emigrate, he added.

"However they are also realistic about how long they have to work to pay for their aspirations," Shelley said.

According to the findings, 30 per cent of the population now see themselves retiring abroad.

The number who hope to leave Britain when they finish working is many times the comparatively small proportion who in the past have made it to villas in France or apartments on the Costas.

The survey found that only one in ten people personally know someone of their parents' generation who has retired overseas.

One in four said firmly that they wanted lives in retirement that will be nothing like those of their parents and grandparents.

A high number also believe that, despite the crisis affecting company pensions, their ambition is within reach.

One in five people think their hopes of retiring abroad are realistic and achievable.

Of those looking to escape overseas, one in five want to go to Spain; nearly one in three look elsewhere in Europe.

Shelley said: "We think one of the reasons for the increasing trend to retirement abroad is the increasing international mobility British people enjoy. People go abroad on holiday, they are exposed to different lifestyles, and they want to life like that permanently."

Last month the Foreign Office published figures on numbers of Britons living abroad that showed nearly five million are living in other parts of the world.

There are, the Foreign Office believes, nearly 200,000 Britons living in Spain; another 200,000 in France; more than 600,000 in Australia and half a million in the US.

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Subject: Spanish news

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