Top 10 Reasons People Move Abroad
Today, the world is much more interconnected, and moving abroad has become increasingly popular. There are various reasons people move abroad, whether it is for life’s opportunities, career advancement, personal growth, or to pursue adventure.
Over the years, we have seen many different motivations for taking that big step abroad, as living in a new country also offers numerous benefits, including unique opportunities and experiences. I hope this article provides you with some new insights that you may not have been aware of. Here are the top ten reasons people decide to move abroad.
Career Growth as an Expat
Perhaps the number one reason people move to a destination country abroad is for career growth. There are specific countries that offer better job markets, specialized industries, and higher salaries, making them more attractive choices than one’s home country. Actually, my brother moved to the United Kingdom and then to the USA for a vastly superior job and income over what he would have found in Canada.
Many financial experts, especially “finance bros” tend to prefer living in places like London, Dubai, or New York. At the same time, tech professionals may find more job opportunities in Germany, the United States, and Singapore. Moving abroad not only provides these opportunities, but it can also enhance a resume by adding international work experience, a quality that employers worldwide are drawn to. Aside from salary and prestige, relocating can expose someone to different types of work cultures and networks, thereby expanding their professional life further.
Cultural Exposure
Living abroad offers the opportunity to immerse oneself in a new culture, where one can experience diverse traditions, social norms, cuisines, and languages, thereby broadening one’s worldview and cultivating cultural sensitivity. This exposure is excellent for encouraging flexibility, empathy, and understanding perspectives other than our own. From celebrating at local festivals, learning a new language, or adapting to different social etiquette, cultural immersion is fantastic for personal growth in ways that travelling cannot recreate.
Educational Opportunities for Those Who Move Abroad
Education is also a significant reason people decide to move abroad. Students and families often keep the top universities, specialized programs, and stable schools for their children., The United States, Canada, the United Kingdom, and Australia are known for their higher education programs, while certain European countries offer tuition-free programs for international students.
Moving to a new place enables students to learn new languages, gain a deeper understanding of diverse cultures, and broaden their global perspectives, ultimately helping them connect more deeply with the world. For parents, relocating also enables their children to receive an immersive and multilingual education, providing them with a competitive advantage in the future.
Note that international schools often charge high tuition fees and if you are being sent abroad on a work assignment, check if your employer will cover these fees.
Financial Benefits – Potentially Lower Tax Rates
There can be many financial benefits. Moving abroad, and they play a significant role in deciding whether to move somewhere. Some countries have lower costs of living, making healthcare, housing, and daily expenses more affordable, while others offer higher salaries and tax advantages for expats. We find that many people these days are escaping high tax rates, especially wealthy individuals. They are moving to low- or zero-tax jurisdictions, such as the Bahamas, the UAE, or Switzerland, or even countries that generally have high tax rates, but want to encourage investment by providing low tax rates for non-doms or expats.
Retirees also move abroad to extend their pensions and savings, while still enjoying a high quality of life. Working for professionals, competitive pay, reduced expenses, and low taxation make relocation a financially strategic choice. However, it’s essential to consult your expat tax advisor, as there may be severe tax consequences for some individuals.
Adventure and Travel
Moving abroad can help fulfill an adventurer’s bucket list. Living in a new country makes it easier to travel to other regions and is usually more affordable. It enables you to go on weekend trips, day excursions, and explore natural wonders. Whether you are hiking the mountains, exploring temples, wandering through historic ancient cities, or living somewhere that is an open-air museum, living abroad means new experiences and fun adventures, creating lasting memories.
Note that some countries can be a bit too adventurous, so be cautious and check the local security and health conditions of your new expat destination.
Work-Life Balance When You Move Abroad
Certain countries strike a balance between professional and personal life. Most European countries have shorter workweeks, extended vacations, and family-friendly policies. There are also significant benefits to achieving a better work-life balance by moving to a new country, such as being closer to family, enjoying hobbies, and engaging in leisure activities without the pressure of work. For many global citizens, achieving a sense of happiness, reduced stress, and enhanced well-being can be attained by having an improved work-life balance, making this a compelling reason to consider moving abroad.
Healthcare Access
Accessing higher-quality healthcare is another reason to consider moving abroad, as countries with advanced medical facilities and excellent healthcare systems offer more affordable and reliable medical services. Some destinations prioritize wellness, preventive care, and lifestyle programs, promoting a healthier way of life.
In Canada, the healthcare system has been under severe stress and accessing medical services, such as even getting a family doctor, has been very difficult. Many Canadians wait for over six months to see a specialist and over sixteen months to get knee surgery or a hip replacement.
For those with chronic conditions, families with young children, or retirees, moving for improved healthcare can increase the quality of life, reduce medical bills, and reduce stress about facing a medical problem. I should mention that while some may think their home country’s healthcare will cover them abroad, it almost certainly will not. Also, many destination countries will require that expats purchase high-quality healthcare locally or internationally. In fact, many healthcare options will not be available in your new country or will be inadequate for you and your family’s requirements. A comprehensive global healthcare plan via this website can cover you in your home destination, globally and even back home. Such international health policies are also portable, but if you move back to your home country and spend more than 180 days there, the plan may not be renewable. It makes sense to check the fine print and talk to the owner of Expat Financial, which is TFG Global Insurance Solutions Ltd.
Weather Considerations When You Move Abroad
The weather of a destination is often a crucial consideration when deciding to move there. Many people relocate for the warmer weather, cleaner air, and to be closer to natural landscapes, such as mountains, forests, and beaches. Living in a pleasant environment leads to better mental and physical well-being. Many prefer to escape the harsh winters, pollution, or urban congestion by relocating abroad to live a better lifestyle.
Personal Growth and Independence
Living abroad can help people develop their adaptation and problem-solving skills, enabling them to navigate unfamiliar environments independently. While language barriers, cultural differences, and logistical challenges can lead people to step outside their comfort zones, this helps promote self-reliance and adaptability. Many expats describe moving abroad as a life-changing experience, where their perspectives and relationships are reshaped, and they become stronger individuals.
Global Connections and Citizenship Through Moving Abroad
Moving abroad enables people to form international connections and develop a sense of global citizenship. Living in a different country provides people with the opportunity to form friendships with individuals from diverse backgrounds and be part of international communities. Some also consider obtaining residency or dual citizenship, which can mean better flexibility in work, travel, and investment opportunities. This worldwide outlook can be personally enriching for one’s professional life, offering someone a sense of belonging and helping them enjoy their new home.
Moving abroad can be a complicated decision, as careful planning, courage, and adaptation are required. However, moving abroad can be an enriching experience, offering opportunities for career growth, financial benefits, and enhanced education. We should also consider cultural exposure, personal development, and adventure, which can have a profoundly positive impact on one’s life.
Bonus Reason – Your Employer Sent You Abroad
I should also mention that many employers need to develop markets and serve customers abroad, so they send their highly skilled employees on short and, especially, long-term expatriate assignments. Your employer, as part of their duty of care, should secure extensive international healthcare, medical evacuation and dental coverage on an individual basis if only one employee is being sent abroad or a global group insurance plan that will spread the risk and provide much lower premiums and superior coverage if there are several employees posted abroad. While it may seem prudent and save money to put your overseas employees on the local health plan, there are some serious pitfalls to this approach, as noted in our article on the subject. Most expat employers will secure a policy for anyone being sent abroad for a work assignment of over 12 months. Below that, they may get a business travel plan.
Global benefit professionals should consult with an international insurance broker, such as the owner of this website, to discuss their global benefit needs, as most local insurance agents will have limited or no experience in this field.
Some Final Thoughts on Life Abroad
If you speak with international citizens today, they will tell you that while living abroad can be challenging, it can also broaden perspectives, promote resilience, and shape people’s worldviews through new experiences. For those seeking exploration, growth, and new opportunities, relocating to a new country is a transformative and enriching decision that can profoundly impact your life.
As noted above, when embarking on your expat journey, be sure to purchase health coverage, as this can provide easy access to essential medical services, including doctor’s visits, emergency care, hospital stays, and treatment for injuries or illnesses. Having health coverage means you can enjoy your vacation stress-free, without worrying about receiving a costly medical bill.
