Americans Moving Abroad: Following Donald Trump’s reelection, tens of thousands of Americans have shown interest in moving abroad. The surge in demand was immediately noticeable, with nearly 30,000 visitors to the website of Expatsi, a travel company offering scouting trips for Americans looking to relocate overseas.
According to co-founder Jen Barnett, the website’s traffic exceeded the amount they typically receive in a month, and they had already booked over 100 new clients by the morning after the election results. Many individuals are eager to leave the U.S., with some wanting to make the move before the presidential inauguration.
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The exit is real
According to Bankrate’s Paycheck to Paycheck Survey, 34% of people live paycheck to paycheck, leaving little or no money for savings after covering their monthly expenses. Additionally, 27% have no emergency savings at all. Millennials (ages 28-43) and Gen Xers (ages 44-59) are particularly vulnerable, with 34% of millennials and 31% of Gen Xers lacking emergency savings. In contrast, only 29% of Gen Zers (ages 18-27) and 16% of baby boomers (ages 60-78) report the same issue.
For those interested in moving abroad, the lack of savings could make it challenging to afford the costs of an international relocation. If you’re in this situation, you would need to make a significant savings effort to cover the expenses involved in moving to another country.
Where Americans want to move?
Countries like Portugal, Spain, and Mexico have been popular relocation destinations for Americans. However, Barnett from Expatsi mentions a growing interest in places like Ireland, France, and Albania. Specifically, Americans can stay in Albania for up to a year without needing residency, which adds to its appeal.
Leading up to the election, there was significant anxiety among many Americans. Expatsi received numerous messages from individuals planning to move abroad if Donald Trump won the election. Barnett expressed a preference for fewer clients if it meant protecting democracy, but reassured that the company is ready to assist anyone who needs help with their relocation plans.
How much would it actually cost to move abroad post-election?
As of 2019, only 9 million Americans live overseas, according to the U.S. Department of State. Moving abroad requires significant savings, with costs varying based on family size, destination, visa type, and other factors. Bankrate provides estimates for basic worker’s visas and moving fees to popular English-speaking countries to help guide your move.
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The cost of moving internationally varies depending on the destination country, visa requirements, and moving fees. Here’s a breakdown of approximate costs for moving from the U.S. to four popular countries:
U.S. to Canada:
- Approximate cost: $20,200-$23,600 for two people.
- Proof of funds: $13,080 USD.
- Medical exams and application fees: $3,520 USD.
- Moving fees: $3,600-$7,000 USD.
- Canada is one of the more expensive countries to move to, despite its proximity.
U.S. to United Kingdom:
- Approximate cost: $20,200-$23,600 for two people.
- Work visa (including dependents): $470-$2,340 USD.
- Moving fees: $2,000-$9,500 USD.
- The cost can vary depending on the type of visa and the amount of belongings being moved.
U.S. to Australia:
- Approximate cost: $15,150 for two people.
- Skilled work regional visa: $3,100 USD for the first applicant and $1,550 USD for each additional adult.
- Shipping costs: $10,500 USD.
- Additional costs may include health exams, English language tests, and police records checks.
U.S. to New Zealand:
- Approximate cost: $9,020-$19,520 for two people.
- Work-to-residence visa: $3,760 USD per applicant.
- Shipping costs: $1,500-$12,000 USD.
- A full-time job offer from an accredited employer is required to apply for the visa.
Moving internationally is a significant financial commitment, and the costs depend on various factors, including visas, moving services, and the amount of personal belongings being shipped.
