Plenty of young Americans say they’d live a better life abroad, and their wish to do so is only growing as they get older.
Some 1 in 4 American Gen Zers say they’d move abroad for better social programs, like universal health care, making it their main reason for wanting to live overseas. That’s according to an October survey of 3,000 Americans age 18 to 26 from Preply, a language tutoring platform.
Not far behind, 19% of Gen Z Americans say having a new cultural experience is their top reason for wanting to leave the country, 18% cite the high cost of living in the U.S., and 17% say they dislike the U.S. political environment.
A majority, 59%, also say gun violence in the U.S. plays a major role in their desire to live in another country.
As for where they’d want to go, here are the top 10 countries where young U.S. adults want to move for a new life abroad:
- United Kingdom
- Canada
- Japan
- Netherlands
- Singapore
- Australia
- Switzerland
- Italy
- Germany
- Ireland
English-speaking countries top the list, which will be helpful for the 67% of respondents who say they don’t speak another language. Italy, Germany and Japan are among the OECD countries that spend the most on social programs for residents, relative to gross domestic product. Young Americans also prioritize locations with warm and sunny weather like Singapore and Australia, which also boast big expat communities.
Young Americans are serious about seeking a better life abroad: They’re most likely to say they’d live outside the U.S. indefinitely (34%), followed by another 33% who would plan to be away from 1 to 3 years. Only 12% say they’d move abroad for less than a year.
Two-thirds say they would even start a family abroad, and a similar share say their desire to leave the U.S. and live abroad is only increasing as they get older.
Want to be smarter and more successful with your money, work & life? Sign up for our new newsletter!
Get CNBC’s free Warren Buffett Guide to Investing, which distills the billionaire’s No. 1 best piece of advice for regular investors, do’s and don’ts, and three key investing principles into a clear and simple guidebook.
Check out: This 41-year-old works for herself and bought a house in Sicily for $62,000 — now she splits her time between Italy and the U.S.
Read the full article here
