Is Wealth in the U.K. Not as Satisfying as Elsewhere?

A recent study by Lloyds TSB International Wealth suggests that only 10 percent of “high-earners” in the country believe they are better off in the U.K. than they would be in other “developed neighboring” countries.

The study suggests that happiness relating to quality of life and financial well-being was higher for those living abroad. Only 10 percent of those surveyed said the quality of life in Britain is higher than other developed countries in the world. In addition, only 9 percent believe those in the U.K. are financially better off.

The Lloyds TSB survey polled 923 people who hold over £250,000 in investments and savings, and found that 62 per cent of respondents thought monitoring general happiness was just as important as economic measurements such as GDP. A statement which only 13 per cent said they disagreed with.

Five percent of the wealthy individuals surveyed said they would agree that people in Britain would class themselves as “generally happier” than those who live in other developed countries. Many individuals believed that the focus on financial affairs is harming the capacity of the U.K. to improve people’s lives in other ways. Forty-nine percent said people in Britain are now so overly concerned about their monetary situation that it was proving to be at the expense of other things that could improve their quality of life.

The study has sparked some fears that since so many wealthy people believe quality of life, financial well-being and “general happiness” are higher abroad, individuals with higher incomes may head abroad. According to Lloyds TSB, thirty-six percent of high-earners would favor a move to another country, which was something fourteen percent said they were likely to do over the next couple of years.

Lloyds TSB International Wealth research also revealed many believe UK life is more stressful than in other countries – with just three per cent saying Britons are less stressed than their peers in in other developed nations.

Source: Mogulite

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