SOURCE: The Boston Consulting Group
DALLAS, TX--(Marketwired - Sep 5, 2013) - Despite modest economic growth since the Great Recession, the United States still ranks as one of the most desirable places to live among nonresidents in ten countries surveyed, according to new research by The Boston Consulting Group (BCG).
BCG's Center for Consumer and Customer Insight recently surveyed nearly 28,000 residents in 11 countries (including the U.S.), asking them to nominate the best countries in which to live. A third of global respondents (34 percent) picked Australia as a top choice (excluding their home country), followed by Canada (27 percent) and the U.S. (24 percent). Switzerland netted the fourth-highest number of responses from nonresidents (21 percent).
Nonresidents cited economic opportunity/material well-being, quality education, and cost of living as key reasons for wanting to live in the U.S.
The countries surveyed were the U.S., Canada, Germany, the U.K., France, Spain, Italy, Japan, Australia, Brazil, and India.
Respondents within the U.S. placed a much higher importance on the country's political freedom (51 percent versus 13 percent for nonresidents), cultural and religious relative tolerance (30 percent versus 15 percent for nonresidents), and quality health care (20 percent versus 11 percent).
Interestingly, U.S. residents placed a somewhat lower emphasis on economic opportunity (32 percent versus 53 percent for nonresidents), cost of living (11 percent versus 26 percent), and quality education (26 percent versus 33 percent).
"It's revealing that nonresidents feel more positive about the economic opportunities in the U.S. than residents," said Christine Barton, a Dallas-based BCG partner who oversaw the research. "Clearly, the weakness of the U.S. recovery since the Great Recession is affecting Americans' attitudes. It's important to remember that Americans are among the most optimistic globally about the future, as well as about personal earning potential."
The results are part of a wide-ranging survey of global consumer sentiment that BCG conducts regularly. Additional findings from the survey, which also included consumers in eight African countries, will be released in October 2013.
It should perhaps come as no surprise that U.S. respondents selected English-speaking countries as their favorite places to live. Residents ranked the U.S. as their first choice (81 percent), followed by their northern neighbor Canada (38 percent), Australia (35 percent), and the U.K. (20 percent).
Americans -- like residents of Australia, Canada, and Japan -- reported the most desire to live in their home countries. By comparison, in some Southern European countries hard hit by recession, instability, and uncertainty, the minority ranked their home country a top place to live.
The U.S. was also the most popular place to live among respondents in the rapidly developing economies of Brazil and India.
U.S. baby boomers and the generation above showed a strong preference for living in the U.S. Millennials in the U.S. reflect a different attitude, ranking European countries such as the U.K., Italy, France, and Japan much higher than did their elders.
"This is not surprising," explained Barton, who also oversees BCG's research on Millennials. "The U.S. Millennial generation is more diverse than preceding generations, with the most interest in overseas travel, international luxury, and taste-making. Some sectors -- such as restaurants, apparel, and hotels -- are already adjusting to unique Millennial habits and preferences. Other sectors have yet to fully experience the profound impact these consumers will have on companies."
To arrange an interview with one of the authors, please contact Alexandra Corriveau at +1 212 446 3261 or email@example.com.
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About BCG's Center for Consumer and Customer Insight
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