Friday, 1 November 2013

Y London? Techy millennial expats head for the UK capital

It won’t come as a surprise to many that millenials or Gen-Yers (those aged 18-34) are addicted to their technologies. Multi-tasking and multi-screening, this generation sleep with their smartphones and are the first beneficiaries of growing up with PCs, laptops and access to the internet (i.e. ‘digital natives’).

What the Expat Explorer 2013 survey reveals however is that this preference for all things tech has graduated from teenagers’ bedrooms to twenty-somethings’ London offices. The stats reveal that millennial expats are particularly drawn to the UK with one in five expats (19%) in this age group moving to the country, with the most popular careers being in technology and finance. It appears that London’s status as a financial and technological centre is attracting them, with what is called Tech City or Silicon Roundabout drawing talent from around the world.


Image Source: Jack Torcello

It’s been reported that over 15,000 new businesses were set up in 2012/3 in the EC1V postcode. The sheer volume of tech firms choosing to do business in the area can be attributed to several factors – not least the relative affordability of the Old Street area in the early years, remarkable given its proximity to the City. But there’s little doubt that a key attraction is the opportunity for community and networking a collection of similar businesses can bring.

All this is good news for hyper-connected millennial expats, starting a new life in the UK. As you’d expect of internet-savvy entrepreneurs, Tech City is awash with meetups and social events for those working in the industry, all only a quick online search and few minutes walk away.

The UAE is the next most popular destination after the UK for young expats (16%), while other professions which scored highly with the age group included teaching - especially in Asia.

But young doesn’t necessarily equate to wild and free. Those surveyed from Generation Y were more likely than any other age group to have moved abroad for love, with a third taking the leap to be with a partner. 

Check out the full list of popular young expat destinations here on our new interactive tool here. To share your experiences of London’s Tech City with us in the comments section or on @expatexplorer

Check out the latest findings of the 2013 Expat Explorer report and more on the newly designed Interactive Tool here.

1 comment:

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