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Spain: The envy of Europe?

Thursday, 7 August, 2008

A new survey has revealed some information that is sure to interest prospective investors.

According to a study by U-Switch, Spain has the best quality of life in Europe, whereas Britain and Ireland have the highest average incomes in Europe, but the lowest quality of life.

Brits pay sky-high prices for fuel, food and other essentials, while having among the shortest holidays, latest retirement age and lowest life expectancy, according to the European Quality of Life Index, presenting findings from ten European countries.

Ireland, which like Britain has seen a huge market-driven economic boom over the last decade, is even worse than Britain, coming in last in the index.

Spaniards have the lowest average income, approx £16,800, but low taxation and cheaper essential goods prices put them at the top of the overall quality of life indicator.

Furthermore, while England and Ireland experience the fewest hours of sunshine in Europe, Spain benefits from the most, giving them plenty of options for enjoying all that free time.

Spaniards even have a longer life expectancy than Brits, making it almost 80 years on average.

Ann Robinson, director of consumer policy at U-Switch, commented: "We may earn substantially more than our European neighbours but when it comes to quality of life we remain the sick man of Europe. Soaring food prices and inflation, not to mention high property costs, are placing the biggest squeeze on disposable incomes in well over a decade."

The study assessed 19 factors affecting the quality of life, ranging from income and working conditions to healthcare, education and cost of living.

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