New research from Europe’s second-largest neobank, bunq, reveals that the idea of starting anew is gaining popularity among Brits, as two in three (66%) are contemplating moving abroad, with financial pressures and a desire for a better quality of life driving the exodus.
The cost of living crisis has been revealed to be a major catalyst behind this desire to leave, with one in four (26%) citing the cost of living crisis as a key motivator pushing people to explore life beyond Britain’s borders. Millennials are especially affected, with nearly one in three (31%) seriously considering relocation due to the current financial strain. The research paints a stark picture of a generation struggling to stay afloat and increasingly drawn to opportunities elsewhere.
Life abroad isn’t just an escape – it could be a financial upgrade. According to bunq’s latest Global Living Report, nearly one in four (24%) digital nomads say their lifestyle has made them feel more financially secure, while 28% report being able to save more, a growing challenge for many Brits at home. However, the report also reveals that the financial reality of the digital nomad lifestyle may be more complex – with digital nomads often facing unforeseen costs such as medical expenses (16%) and local taxes (15%).
“More people are realizing that they have the freedom to build a life on their own terms, wherever that may be. Living abroad isn’t about running away; it’s about running toward something better: more freedom, better balance, and new possibilities.”
Bianca Zwart, Chief Strategy Officer at bunq
The data also reveals that an improved quality of life is another big driving force behind Brits turning their backs on the UK. Over a quarter (27%) believe their overall quality of life would be benefited by adopting an international lifestyle.The draw of better career prospects, improved work-life balance and a healthier way of life all contribute. This is also reflected by bunq’s Global Living Report with 21% of respondents saying the digital nomad lifestyle has had a positive impact on their work, with 11% being able to offer more competitive rates.
The mental health toll of life in the UK is also pushing people to consider a reset. One in five Brits (20%) believe their mental wellbeing would improve significantly if they left the country. With rising levels of stress, burnout, and anxiety, many are feeling overworked, under-supported, and stretched too thin. The promise of a healthier, more balanced lifestyle abroad is proving too strong to ignore. Moving abroad offers the thrill of new experiences, an opportunity to discover new cultures and improved work-life balance all contribute – with 36% of digital nomads citing their lifestyle has positively impacted their mental health. Living abroad can also positively improve relationships – a key contributor to good mental wellbeing – with nearly one in five digital nomads reporting they have built stronger relationships since leaving the UK.
“Nowadays more and more people are asking how can I maximize my well-being while minimizing major stressors? Adopting a nomadic lifestyle could be an answer—offering you the chance to stretch your money further, experience new cultures, and find a rhythm of life that truly works for you, even if just for a season.”
Agustín Hayes M.A, Psychologist and digital nomad
*The data was gathered from a nationally representative survey of 2,000 British nationals conducted by Censuswide
