Pensioners seek lower living costs overseas
Rising living costs in the UK are prompting many pensioners to look into the possibility of moving abroad, according to analysts.
Currency specialist FC Exchange said recent price hikes by energy providers in Britain have led to a surge in the number of retirees enquiring about relocating to the sun.
Nick Fullerton, managing director of the organisation, stated that the number of pensioners asking about emigrating has gone up by nearly two-thirds in recent months.
He commented: "Portugal, Cyprus and even Spain are the most popular destinations that we are receiving enquiries about - locations that offer a high standard of living and a sought after climate."
Mr Fullerton added that while the cost of petrol, gas and electricity is relatively similar in these countries, the favourable climate means there is less need to use heating and lighting.
This, he stated, means that pensioners can enjoy "large savings" on their overall living costs.
This comes after currency exchange group HiFX said that between January and June, the number of enquiries it received from prospective migrants was 30% up on the first half of last year.
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