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Financial hardship hitting British expats in Spain
| Published: | 27 Feb at 6 PM |
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As reported by The Telegraph, a television documentary has exposed the extent to which British expatriates in Spain are toiling during the eurozone crisis, as social services and charities are overwhelmed with the demand for aid.
The BBC’s Andrew Sinclair, correspondent for East Anglia, interviewed expats living in Spain and discovered that locals were struggling to get by in the recession, due to the British pound's lower value against the euro.
He said that many expats were eager to point out that they were not “stinking rich”, which is a common misconception of British expatriates residing in Spain. Mr Sinclair explained that many of the interviewees very much working class people who thought they could fare better in Spain even without large fortunes.
Although the raging eurozone crisis has highlighted the likelihood of an expat flight from certain parts of Spain, many British citizens plan to remain in the area. Property sales are currently sluggish, with an excess of new construction properties in certain areas keeping prices and demand low.
While many Brits are unable to return to the UK for health reasons, others are determined to persevere and hope for a brighter economic situation - instead of trading Spanish sunshine for a homecoming to the UK.
The BBC’s Andrew Sinclair, correspondent for East Anglia, interviewed expats living in Spain and discovered that locals were struggling to get by in the recession, due to the British pound's lower value against the euro.
He said that many expats were eager to point out that they were not “stinking rich”, which is a common misconception of British expatriates residing in Spain. Mr Sinclair explained that many of the interviewees very much working class people who thought they could fare better in Spain even without large fortunes.
Although the raging eurozone crisis has highlighted the likelihood of an expat flight from certain parts of Spain, many British citizens plan to remain in the area. Property sales are currently sluggish, with an excess of new construction properties in certain areas keeping prices and demand low.
While many Brits are unable to return to the UK for health reasons, others are determined to persevere and hope for a brighter economic situation - instead of trading Spanish sunshine for a homecoming to the UK.
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