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Expat Investor : May June 2008
expatinvestor.com 4 EXPAT INVESTOR ? May/June 2008 STATISTICS AND ANALYSES A new survey commissioned by insurer Royal & SunAlliance (R&SA) has shown that employers are victims of multiple cases of thieving, with 24 million workers taking property from work or exaggerating expense claims. Most British employees are guilty of some form of office pilfering (82%). However, R&SA’s statistics show that some employees are guilty of more serious crimes, such as removing and keeping company laptops (almost a quarter of a million workers) and exaggerating expense and overtime claims (one in seven). Perhaps more startling are their reasons for committing these crimes. Of those who have taken something from work, nearly one million did so because they considered it to be their property, and a further 963,200 workers did so to spite their company. Jon Woodman, Trading Director of Broker, R&SA, says, “Our research has shown that taking work property home and making false claims are very common in the workplace. “Per worker, thefts are mostly of small items, but given that 82% of people who work have admitted to pilfering from the workplace, the overall impact on a business could be significant. “As an insurer, we take theft very seriously and advise businesses to be aware of the actions of their employees. Policies can be enforced which encourage employers to respect company property or sign in and out materials such as laptops.” Visiting distant destinations like Australia costs a family of four an average of £8,120, for a six-week holiday of a lifetime. But although long-haul holidays may be where we spend the most per visit, Alliance & Leicester’s research shows that trips closer to home may make less economic sense for some travellers, with Iceland topping the poll of countries where we spend the most per day. Out of the 10 most expensive destinations, six are in Europe, suggesting that taking short Continental breaks may actually be A medley of statistics and analyses revealing much about our responses to saving, investing and spending our money. C OUNTRIES WHERE WE SPEND THE MOST PER VISIT : Co untry Spend Spend Average length per person per family of 4 Of stay Australia £2,030 £8,120 45 days New Zealand £2,004 £8,016 41 days Central & South America £1,193 £4,772 28 days Thailand £1,177 £4,708 22 days Asia £1,167 £4,667 20 days South Africa £1,107 £4,428 21 days China £1,105 £4,420 20 days Canada £1,046 £4,184 15 days Pakistan £948 £3,792 32 days USA £945 £3,780 14 days C OUNTRIES WHERE WE SPEND THE MOST PER PERSON PER DAY : Country Spend Average length per day of stay Iceland £118 6 days Estonia £102 5 days United Arab Emirates £95 9 days Latvia £92 3 days Finland £91 5 days Hungary £76 6 days Belgium £74 3 days Barbados £71 13 days USA £70 14 days Canada £69 15 days Our annual £34bn overseas holiday habit more costly than they appear. The findings also reveal the average cost of a holiday abroad was £514 per person – or £2,056 for a family of four. Over a lifetime this amounts to a whopping £41,634 for an individual. Clearly the cost of funding a dream holiday abroad could be daunting, but a low-rate loan gives cash-savvy travellers cost-effective options of paying for it in manageable monthly sums – without piling on high levels of interest. Richard Al-Dabbagh, Alliance & Leicester Personal Loans Manager, says, “Holidays are meant to be a time of enjoyment but often the cost of going abroad, especially for a family, can be quite substantial. Rather than worry about how to finance a holiday or shelving plans for a well-earned break, British holidaymakers can opt for a personal loan that allows them the convenience of paying in manageable monthly instalments. This can easily be budgeted for over a time period to suit and there’s the comfort of knowing that whatever happens to interest rates, the payments won’t change.” 24 million Britons ‘steal’ from their employers More than four out of five adults overpay for financial products The average household could save up to £547 every year by switching the five financial basics to the best deal on the market, new MoneyExpert.com research shows. And 84% of adults are overpaying for one or more financial product, the analysis shows. MoneyExpert.com conducted the research to demonstrate the benefits of shopping around for the best deals – and also to highlight the benefits of using a comparison website. The £547 annual household saving comes from switching home insurance, motor insurance, mortgages, personal loans and credit cards to the best deal for each individual. Research shows the biggest saving would come from moving a personal loan. On average borrowers could save £204 a year by moving to the best deal. Drivers could cut their car insurance bill by around £158 a year, while homeowners would be £76 a year better off. We make savings simple for you for a personal service Download an application form at www.irishpermanentintl.com +44(0)1624 641641 Individual product terms and conditions apply. The minimum opening balance is £10,000/ €10,000 or US $10,000. Irish Permanent International is a registered business name of Irish Permanent (IOM) Limited which is licensed by the Isle of Man Financial Supervision Commission for Banking and Investment Business. Registered Office: 12/14 Ridgeway Street, Douglas, Isle of Man. IM1 1EN. Irish Permanent International is part of the Irish Life and Permanent PLC Group. 6.50 % 1 Year Fixed Rate Bond 5.00% € AER AER 3.40% $ £ AER Also available * 6 Months Fixed Rate Bond * International 30 Sean Gardner, Chief Executive of MoneyExpert.com, says, “With everyone coming under increasing financial pressure from rising bills, it makes sense to find every possible way to cut costs. “Not everyone will save that much, but four out of five of us are overpaying for at least one of the financial basics. Typically, UK consumers are paying out £150 per year more than they need to. I’d urge people to spend just a few minutes online to review their finances.” Fast Facts 55002
July August 2008