UK worst for expat childcare costs

Man and babyThe UK is the most expensive country for expatriates to raise children, a worldwide survey has shown.

Ultra-expensive childcare, equating to £7,790 per child per year, drove the UK to the bottom of the raising children abroad league table, found the survey by HSBC bank's expat division.
Health and well-being, as well as integration, were factored into the child-raising table, which was topped by France, with the Netherlands second and Australia third.

While childcare costs for expats in the UK were nearly twice the world average, 27% of expatriate parents in the UK reckoned the social integration of their children had deteriorated since they relocated.

Also, nearly half of foreign residents now relocated in the UK felt the economy had deteriorated since the beginning of 2010, but only 25% of them believed it would continue to deteriorate.

This compared with 44% of expatriates in Italy and 38% in Spain who feared their adopted country's economies would worsen.

Despite the high cost of childcare, the UK was the sixth most popular choice of country for expatriates in a survey involving 3,385 expatriates from more than 100 nations.

Lisa Wood, head of marketing at HSBC Expat, said: "Expats with children will obviously be putting their children's needs at the forefront of their relocation decision.

"For many expat parents, the knowledge that their children will be able to easily integrate into their new community will outweigh any potential increase in earnings and saving potential when moving."

© 2011 Press Association
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