13 March 2009

New Zealand cheapest destination for UK migrants

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Research from the Foreign Currency Direct (FCD) shows that of the top ten destinations for migrating Brits, New Zealand has come out the cheapest in terms of cost of living.

The research compared the cost of essential and non-essential purchases common to a British person living overseas, concluded that Brits emigrating to New Zealand would benefit from a 33 per cent lower cost of living than the UK.  Australia was also a close contender, which showed a 22 per cent lower cost of living than the UK.

According to Easier.com, while British favourites such as bacon and eggs cost similar amounts in the UK, purchases such as cars could be made in New Zealand at a massive saving.  While a Ford Focus costs the equivalent of £9,338 in Australia and £9,401 in New Zealand, the same car in the UK would set you back an average of £12,866.

The research also showed, for example, that a bag of groceries, including eggs, bread, milk and potatoes costs 34 per cent less in New Zealand and 23 per cent less in Australia than in the UK.

Peter S. Ellis, chief executive of FCD said New Zealand and Australia have emerged from the financial crisis as the safest bets.

"Relative to the Euro, exchange rates between the Pound and the New Zealand and Australian Dollar have remained surprisingly stable over the last six months.  Coupled with an overall lower cost of living, and the promise of sun, sea and scenery, Australia and New Zealand are becoming increasingly attractive destinations for British expats."

The New Zealand Visa Bureau is an independent consulting company specialising in helping people with their New Zealand visa application.

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