Gen Z and millennial workers want to work overseas, survey finds
ONE in four Gen-Z and millennial workers intend to work overseas, according to research.
A poll of 2,000 employed adults found 36 per cent of the young workers would consider working a fully remote job – just so they can live anywhere in the world.
While two in three don’t want to be restricted by borders when it comes to their careers.
Nearly 48 per cent feel they could improve their lifestyle by earning a higher salary in another country, and 40 per cent say lower living costs overseas encourage them to move abroad.
Additionally, 35 per cent think there is more opportunity to further their career outside of the UK.
Canada, Spain and the USA are the most popular countries Gen-Z and millennial workers would consider emigrating to – with Australia also high on the list for these generations.
Tech, education and tourism stand out as the primary career paths these individuals are most likely to pursue abroad.
The research was commissioned by the new international payments app Zing to explore how today’s adults are living a more global life when it comes to work and money.
The app, which launches today, allows users to hold up to 10 different currencies and lock conversion rates without fees as well as being able to send money internationally.
For 59 per cent of the younger workforce, the ability to work remotely is an important factor when choosing their next role.
And 54 per cent would be more inclined to apply to a company which allows their staff to be stationed anywhere across the globe.
Technology is now allowing more people to work remotely, with research finding nearly half of all workers believe they could do their job from anywhere in the world.
Of these, 64 per cent think this is because their job can be performed remotely on a laptop, while 48 per cent believe their skills would be in demand around the world.
However, just nine per cent of those polled said their employer allows them to do this – with 38 per cent stating theirs offers remote working – but requires them to be in the UK.
Nearly half went on to say they’d welcome their company introducing a ‘work from anywhere’ policy, as 66 per cent believe it would improve work/life balance for staff, and 50 per cent even think there could be an increase in productivity because of it.
Additionally, four in 10 of those polled via OnePoll also reckon these progressive policies could attract a more diverse workforce.
That said, many do envisage difficulties if they were to move and work overseas – with 44 per cent pinpointing language barriers being problematic.
Visa and immigration restrictions could be what holds 35 per cent back, and 23 per cent might struggle with cultural adjustments.
Whereas nine per cent also think managing their money in different currencies would be tricky.
James Allan, founder and CEO of Zing said: “Many people are increasingly living an international lifestyle, more than half have either spent time living abroad or have aspirations to do so.
He added: “Our research found that these people often have frustrations when sending, spending and converting money.
“That’s why now is the time for a new kind of international payments solution.”