Migration to the UK

The latest manifestation of the effects on European migration has come in the form of official figures from the Office for National Statistics (ONS), which show that net migration to the UK from the EU has fallen to its lowest level in more than five years.There were still about 87,000 more long-term migrants arriving in Britain than left in the year to the end of March, but this was the lowest figure since the 2012 calendar year.Separate data from the Labour Force Survey showed that, by June this year, there were 86,000 fewer EU nationals working in the UK than a year earlier - the largest annual fall since comparable records began in 1997. Meanwhile, the number of non-EU nationals working in the UK rose by 74,000 to 1.27 million.Gerwyn Davies, senior labour market analyst at the Chartered Institute of Personnel and Development said the ONS figures "offer further evidence that the UK labour market has lost its pulling power as far as EU citizens are concerned".He added, "It is now clear that not only are fewer EU nationals coming to the UK, but many are also going home too, especially from the EU15 group of countries, which have seen emigration levels increase by 20 per cent over the past year.“At a time of record low unemployment and mounting recruitment and retention pressures, it is sensible that controls on migration from outside the EU are loosened to take the heat out of the tightening labour market."

The global appeal of the Cayman Islands

The Cayman Islands appear to be offering microcosm of the appeal of the Caribbean to expat professionals.The number of Indian nationals holding work permits in the Cayman Islands has increased by 26 per cent in just two years, according to a report in the Cayman Compass newspaper. For the first time there are now more Indian nationals working in the islands than there are Americans, whose numbers have declined by 16 per cent since July 2016.The decline in the number of British expats has been only slightly smaller than those from the US while the increase in Filipino nationals has been in double digits.A study by Employment Conditions Abroad noted, “We found that sending employees to work overseas was more popular than ever before, but that there had also been some significant changes to the demographics. Asia was just as likely to be a source of expatriates as Western Europe and North America.”

Brexit and the effect on global currency trading

Brexit does not seem to sounding the death knell for the global currency trading business in the London, as some had predicted. Far from it. In fact, a Reuters analysis this week showed the UK had extended its lead in the forex business in the two years since the referendum vote to leave the European Union "in another sign London is likely to continue to be one of the world's top two financial centres even after Brexit".

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Relocate's Brexit Challenges workshop on Friday 28 September will address current global mobility challenges including Brexit, setting up in a new dominion, relocation policy design, various aspects of risk management as well as talent management, diversity and inclusion issues. Find out more here.

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Reuters' analysis, based on surveys released by central banks in the five biggest trading centres, showed forex trading volumes in Britain had grown by 23 per cent to a record daily average of $2.7 trillion (£2.1 trillion) in April this year compared to April 2016. The US – the UK's nearest rival – business was up 11 per cent to $994 billion, primarily out of New York.The next three biggest markets were found to be Singapore, where business has fallen by five per cent to $523 billion; Hong Kong, which grew 10 per cent to $482 billion; and Japan, which increased by two per cent to $415 billion."In order for London to be replaced, there needs to be an alternative venue and there isn't one," said Alexander McDonald, chief executive of the industry group European Venues and Intermediaries Association. "The FX market is effectively an offshore dollar market and offshore dollars are always going to be looking for an international home, and that's London."

Expatriate Healthcare release new survey results

Mercer, HSBC and InterNations are among organisations offering surveys invaluable to would-be (and actual) overseas assignees. Now Expatriate Healthcare has come up with a guide of strictly limited appeal: the best place for vegan expats.Five hotspots for veganism, it seems, are the Scottish capital Edinburgh, Ubud in Bali, Ghent in Belgium, Chennai in India, and Taipei, Taiwan.In some countries around the world, the word vegan is still met with puzzled looks, or you’ll be asked if you still eat fish," reported Expatriate Healthcare. "Luckily, there are some cities in the world that are vegan hotspots, serving up the tasted fare and exciting options."One of the reasons Edinburgh earned its place on the list was because "whilst many assume Scotland is a carnivorous location due to their national cuisine, haggis, vegan haggis is available on restaurant menus".

Where is the cheapest place to rent a home in the UK?

Swindon has emerged as the most affordable UK town for employees to rent a home, according to a study by jobs website Adzuna.The company compared average salaries with average rental figures and found that, in Swindon, workers could typically expect to spend 11.5 per cent of their take-home pay on rent, compared to the national average of 22.1 per cent.This compares to the 40.8 per cent average in London and the 39.1 per cent in Oxford, the second most expensive spot for working renters. Bradford, Hull, Dudley and Durham completed the top five 'best value towns for renters' with averages of less than 13 per cent.Andrew Hunter, co-founder of Adzuna, said, "Even though workers may be paid a higher monthly salary, their left-over cash is often smaller after paying steep living costs and local property premiums."Subscribe to Relocate Extra, our monthly newsletter, to get all of the international assignments and global mobility news.Relocate’s new Global Mobility Toolkit provides free information, practical advice and support for HR, global mobility managers and global teams operating overseas.

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