Back in 2002 a Brit working in Australia managing to save $10,000 a year after all expenses would have been able to send around £3,333 back home. Today the same $10,000 would buy around £6,666 – thats double !
It’s not rocket science to work out that today $20,000 would now buy you £13,332. So for anyone considering coming to work in Australia on a skilled work visa for, say, 3 years, you could send home £40,000 over that period. That would pay off a decent part of most mortgages or perhaps even a new luxury car or investment nest egg.
Much of the $A strength has been attributed to the strength of the Aussie resources sector and robustness of the Australian economy.
While in recent weeks the British press has been talking about the UK economy in recession and the unemployed exceeding 2.5 million, Australia’s leading national paper, The Australian, carried a front page story about a looming shortage of 800,000 jobs.
While no one can predict the future, economic experts believe the $A will remain strong for the forseeable future so British migrants considering a working stint in Australia might like to investigate their options further.
So if you have the appropriate skills, there could be a wonderful opportunity for you to work in Australia for a few years, and enjoy the weather and lifestyle, not to mention the attractive salaries on offer. If you use a bit of financial discipline, you could then return home to a brand spanking new BMW, a mortage free house or reward of your choice.
As the UK economy now potentially stumbles to a post Olympic hangover and the days start to get shorter and days colder now might be a “bloody good time” to check out your Australian options – there’s a lot worse than a champagne breakfast on the beach after a surf on christmas morning!