New figures suggest that thousands of British expats have returned home from Spain over the past decade, amid growing concerns regarding Brexit and a weak Pound.
The figures show that the number of Brits living in Benidorm has fallen from around 5,000 before the 2007 financial crash to 2,825 last year. In the same period, the number residing in the Balearic Islands has fallen by 5,000.
Earlier this year, Spanish newspaper El Pais reported that the total number of British residents in Spain had dropped from 397,892 to 240,785 – a fall of 157,107.
While the drop in expats was put down partly to a shake-up in municipal enrolment regulations in Spain, some people told the newspaper that Britons where struggling to cope with the devaluation of the pound.
Sterling yesterday fell to its lowest rate against the euro in nearly a year, following PM Theresa May playing down the consequences of Britain leaving the EU next year without securing a deal with the bloc. May’s comments were seen as undermining Chancellor Philip Hammond’s warnings of economic damage from a ‘No Deal’ Brexit and piled further pressure on the pound.
Fears that Brexit will have a negative impact on their lives abroad has also prompted many to return to the UK.
Article published 30th August 2018