Expats are neglecting to save their wages when they start their new life abroad, a new study suggests.
Conducted by Alliance &Leicester International, the findings of the survey indicate that 70 per cent of expatriates fail to set up an offshore savings account when they relocate to a foreign country.
Managing Director of Alliance &Leicester International Simon Hull remarks that expats should be able to find the best savings account via the internet, as most countries now have reliable web access.
"Although in today’s diverse society there is no such thing as a typical expat, people consistently fail to open an offshore savings account when moving abroad," he comments.
Mr Hull adds that Alliance and Leicester International's eSaver Offshore allows savers to set up a new savings account over the web, which means they can also continue to manage their account online.
According to the study, 32 per cent of expats leave the UK to land a dream job with 40 per cent heading off to the Middle East, Australia and the US.
Recent figures from the Office for National Statistics have found consumers are saving the least amount of money since 1959.
Expats neglect to save wages, says study
Expats neglect to save wages, says study
Wed, 12 Sep 2007
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