15/11/2011

Britain's leading executives are increasingly coming the conclusion that 'abroad is better' when it comes to doing business, according to new research.

The survey carried out by Lloyds TSB International Wealth, canvassed the opinions of 923 people in Britain who hold more than £250,000 in investments and savings. Just 10 per cent of those people felt that they were better off in the UK than they would be living in other "developed neighbouring" countries.

Only five per cent of the people surveyed felt that they were probably "generally happier" than people in similar living circumstances in other developed countries.

The study has indicated that many business leaders and wealthy individuals in the UK could consider taking their businesses abroad in the short to mid-term future. Some 36 per cent of high-earners would favour a move to another country - but only 14 per cent admitted said they would likely make such a move within the next couple of years.

Many of respondents indicated that it would not just be the business climate that would lure them offshore, and that the living conditions and general happiness other countries could provide were becoming more attractive.

Around 62 per cent of respondents thought monitoring general happiness was just as important as economic measurements such as GDP, while only 13 per cent disagreed with this.