International money transfers: Typical British expat 'is skilled professional'

Britons living overseas are typically well-educated, young and highly-skilled, a new report suggests.

The paper, which has been compiled by the Institute of Public Policy Research, has noted that such is the professional and educational quality of Britons moving abroad, the country is now suffering from something of a 'brain drain'.

As well as a qualitative slant on expatriates, the report also places a new figure on the trend, noting that some 5.5 million Britons are now living overseas.

Many of these are likely to be making use of international money transfers to send some of their earnings to family back home.

At the same time, the latest Social Trends report from the Office for National Statistics has revealed that Britons are now taking significantly more foreign holidays than 40 years ago, with UK residents making 6.7 million trips overseas in 1971 compared to 45.5 million in 2008.

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