Australia is the most popular destination for expats from the United Kingdom, according to the 2014 Expat Explore Report.
The HSBC survey reveals that 12% of British migrants opt for living Down Under, double the global average.
Brits also make up the greatest proportion of expats living in Australia by nationality, with 45% of the expats who responded to the survey having originated from the UK.
“Australia is attracting a huge number of British expats, who are looking to improve their quality of life and take advantage of the pleasant climate and scenery on offer,” the report says.
The United Kingdom and Australia of course have traditionally close ties, but a British minister says the bond needs to be stronger, especially in business.
British Minister of State at the Foreign and Commonwealth Office, Hugo Swire, has called for the two countries to combine their shared strengths to help secure economic growth for both countries.
During a visit to Melbourne, Swire said that economic and historical ties between Britain and Australia meant that outside of the European Union and the USA, Australia is Britain’s most valued export market ahead of Japan, Canada and India.
According to Swire, economic data showed that UK exports to Australia exceeded AUD$18 billion, making the UK Australia’s sixth biggest trading partner. Australia imports nearly AUD10 billion a year from the UK – significantly adding value to the importance of this relationship.
“Britain is also the second largest foreign investor in Australia, with AUD$500 billion in total investment stock here, second to the US, but both by some distance ahead of all the rest,” said Swire, adding that, “At the same time, we are the second largest destination for Australian outward investment,” Swire said.
Adding that, “I am sure that if we continue to think creatively and ambitiously, we will find even more ways to work together both to expand the trade and investment links between our countries, and to tap the enormous growth potential in the emerging economies to your North.”
Swire said he believed that the UK and Australia should strengthen and build their economic ties by leveraging their joint membership of the Commonwealth, adding that, “As members of the Commonwealth, we have a ready-made network that boosts trade and business – the engines that drive our growth. And it connects us to some of the power houses of the global economy. Last year, the Commonwealth’s nominal GDP was £6 trillion, according to the International Monetary Fund. It is forecast to grow to £8.4 trillion by 2019.”
Earlier this month, London Mayor Boris Johnson again voiced his support for a review of the UK visa system, to allow more Australians to work in the UK.