Trending News|September 09, 2013 02:28 EDT
Is American Still the Land of Opportunity?
The Great Recession continues to affect people's lives and attitudes as a new global study reveals that foreigners are more upbeat about economic prospects in the U.S. than Americans.
The Boston Consulting Group found that nonresidents cited economic opportunity, lifestyle, and cost of living as key reasons for wanting to live in the United States. Nonresidents ranked America No. 3 on the list of best countries to live, behind Australia and Canada.
Not surprisingly, survey respondents in the U.S. chose English-speaking countries as their favorite places to live. U.S. residents ranked it as their first choice, followed by Canada, Australia, and the U.K. But unlike foreigners, Americans placed a much higher value on non-economic reasons for living stateside, including political freedom, and cultural and religious tolerance.
"It's revealing that nonresidents feel more positive about the economic opportunities in the U.S. than residents. What the research may suggest is that the recession has tempered Americans' enthusiasm for economic opportunity," said Christine Barton, a Dallas-based BCG partner who led the research on consumer attitudes and top places to live.
While the BCG study uncovered pockets of economic doubt, it found that Americans broadly are optimistic compared with people in other developed nations. People globally have responded to hard times by becoming more resilient and adapting to a new "baseline" that includes nagging worries about retirement, job security and caring for aging parents, Barton said.
The study also unearthed generational differences about where to live and work. Young U.S. job seekers are looking abroad for opportunities; older people, anchored by families and other commitments, want to stay home and pin their hopes on and improving U.S. economy.