Better job prospects 'encouraging youngsters overseas'

International bank transfers may become more commonplace in the near future, after it was revealed 33 per cent of young people have considered working abroad.

Research conducted by the Post Office found 27 per cent of 18-34 year olds would move overseas if it would improve their career prospects.

Meanwhile, one in five have already lived or worked outside of the UK and 39 per cent listed better job opportunities as their main motivation for doing so.

Sarah Munro from the Post Office said: "The combination of financial constraints and a difficult job market is making a move overseas look more and more attractive for young people from the UK."

Working abroad was deemed one way to ride out the effects of the current economic climate by 12 per cent of respondents, with those willing to relocate saying they would stay away for at least five years.

For nearly a quarter (23 per cent) of young people, moving overseas is seen as a way of combining their desire to go travelling with working and getting paid.

Elsewhere, opportunities for promotion were listed by 19 per cent of those eager to relocate.

An improved quality of living was the top reason for wanting to escape the UK job and housing market with 63 per cent, while the prospect of a higher salary came second with 43 per cent of the votes.

However, while living overseas may appeal to many employees, Ms Munro noted: "A move abroad can seem like a daunting prospect - particularly for younger people and their parents - and our research tells us that many are deterred by the thought of the expense and complication."

The results of the survey come after the Money Advice Trust revealed research has found nearly one million 16-24 year olds are currently unemployed in the UK.

Posted by Thomas Smith

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