Fears of a Great British brain drain took centre stage today as findings from a new report from the Institute of Public Policy Research suggests that the majority of British people living abroad are typically young, well-educated, highly skilled and adventurous. Whilst it’s interesting to see that the UK produces high-quality expats who, as the report suggests, are “often involved in business development, civic activism and charitable pursuits” is the UK in danger of losing the next generation of its talent?
There are currently an estimated 5.6 million Britons living abroad with the majority tempted overseas by prospects of a more lucrative career, better work-life balance and higher standard of living. However, at time when the UK is trying to rebuild its economy and grow its businesses, should the government be doing more to attract talented expats back to the country? Expats have definitely been affected by the recent Emergency Budget and as previously reported here many expats have been feeling the pinch from local currency fluctuations and the strength of the Euro against the pound.