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Feb. 27 (Asia Today) — Mizuho Financial Group said it will reduce up to 5,000 clerical positions over the next decade as it accelerates the adoption of artificial intelligence across its operations, in a bid to improve profitability.

The Japanese megabank plans to shrink its nationwide administrative workforce of about 15,000 by as much as one-third through automation, organizational streamlining and natural attrition.

Under the plan, its core unit Mizuho Bank will deploy AI systems to handle document verification for account openings and fund transfers, as well as customer data registration. The bank aims to sharply reduce manual tasks such as document review and data entry.

An executive at the group said AI use could render “most clerical work unnecessary,” as automated systems take over scanning, analyzing and validating customer applications.

The AI platform will be designed to review document accuracy, ensure consistency in customer information and check compliance with regulations and internal rules – processes that previously required multiple staff members.

The bank said it will avoid direct layoffs and instead reassign affected employees to revenue-generating areas such as branch sales, corporate client analysis and operational support. The group will also expand reskilling programs to help workers transition into new roles. Staff reductions will rely on hiring freezes, retirements and voluntary departures.

Mizuho has already cut about 10,000 clerical jobs over the past decade through digitalization and expansion of online services. The latest plan signals a further shift away from back-office-heavy operations toward a leaner, AI-driven structure.

As part of an organizational overhaul set for April, the group will rename its “Administrative Group” to “Process Design Group,” reflecting a stronger emphasis on efficiency and digital process management.

The bank plans to invest up to 100 billion yen ($670 million) over three years from 2026 through 2028 to develop and implement AI systems. In addition to back-office automation, the investment will support the development of AI assistants for asset management. The tools are expected to analyze customers’ assets, risk profiles and cash flows to generate personalized investment and cash management proposals for retail and corporate clients.

Among Japan’s major megabanks, Mizuho is seen as the most aggressive in restructuring its clerical workforce around AI. Industry observers say the move could accelerate similar changes across the country’s financial sector.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260227010008338

CARAVAN park owners have a message for Labour: park the holiday tax now. 

One of those making the call is Claire Flower, who runs a site in Paignton, Devon, which has ­welcomed guests for more than 60 years.  

Beverley Holiday Park was started by her grandfather and now 12,000 tourists a year spend their breaks there. 

But Claire, 53, fears for the future if Labour bring in a visitor tax of at least £2 per head per night. 

She says: “If the Government puts a tax on everyone ­visiting, that means a lot of families won’t be able to afford it.  

“Holidays aren’t just a luxury, ­people rely on them for their mental health and family time. 

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“Plenty of parents these days work two or three jobs and there can be shift work in families, too. Holidays are often the only place whole ­families get to sit and eat together. 

“The Government talks about wanting people to spend their money here, not in Spain or Portugal or wherever in Europe, but how are people encouraged to do that if they’re going to be taxed for it?” 

Clare is a member of the Holiday and Residential Parks Association (Harpa), which wants the Government to abandon plans for local mayors to tax anyone staying ­overnight on a break in their area.  

She believes the tourist tax will affect the whole English Riviera in the South West, which depends heavily on holidaymakers. 

Claire says: “The economy of the entire bay will be hit. We employ 180 staff in the summer and 80 all year round.  

“We pay our VAT, our business rates, all our taxes and we help the local economy in a really big way with all the visitors we can accommodate who go on and spend in local businesses. 

“If our numbers start to dwindle, it’s impossible to say where the impact will hit hardest.” 

The park has free indoor and outdoor swimming pools but its utility bills have gone through the roof. 

Claire says: “It’s becoming harder and harder to operate but we have such loyal and lovely visitors, so we work hard to keep prices affordable.  

“We’ve even got a 30 per cent off Easter holiday offer at the moment to encourage people in.” 

The park was founded by Claire’s grandad Stan Jeavons in 1965, and her nephew Adam Furneaux, 22, is the fourth generation to work there. 

Claire says: “Grandad would be devastated at the prospect of the tax. English holiday parks like ours contribute £9.2billion in visitor spend into the economy.  

“For a lot of people, even if they could afford to go abroad, there may be a health reason they can’t or there might be another reason they choose to holiday in the UK rather than overseas.” 

Lee Jenkins, from Abertillery in Gwent, has been visiting Beverley Holiday Park since 1971, when he was three years old.  

He spent his honeymoon at the park with wife Julie in the 1990s and visits several times a year.  

Taxi driver Lee, 58, says: “We’re supposed to support the UK ­economy, aren’t we?

“This country needs people holidaying here, not abroad, so we can support local businesses and spend what we earn here rather than overseas. 

“It seems so short-sighted to tax people out of UK holidays, and it will impact the whole country’s economy.” 

Association Harpa represents 3,000 holiday parks across the UK, from small campsites to major companies.

It believes a holiday tax on British families will place extra financial strain when many are already ­struggling with the cost of living. 

The organisation’s director general, Debbie Walker, says: “Holiday parks and campsites offer some of the most affordable holidays in the UK and this tax risks pricing people out of breaks at a time when money is so tight. 

“While we fully recognise the financial pressures facing local authorities, a holiday tax adding around £100 to a typical two-week family break is not the right ­solution. 

“If we want people to choose UK holidays, taxing them for doing so sends exactly the wrong message.”

Park Holidays UK, which operates more than 50 sites in the UK, says that a tourism tax would be “totally self-defeating” as well as punishing hard-working families who choose to take a holiday in Britain. 

Chief marketing officer Brad May says: “The Government imagines a holiday levy would help raise ­revenues for cash-strapped local councils.

“But it’s far more likely that ­visitor numbers to these areas would drop as families turn to other destinations which are not slamming a tax on their fun. 

“When our guests take a well-earned break, many enjoy visiting nearby attractions, going out for a meal and spending money in local shops.

“So, it’s these businesses which will also suffer as an unintended consequence of this move.” 

All of them are backing The Sun’s Hands Off Our Hols campaign. 

It is a sentiment echoed by Alfie Best, who owns Wyldecrest holiday parks. 

He says: “When you think of a budget holiday in this country you automatically have a picture of a caravan park in your mind. They have been the backbone of holidays for a generation.  

“This tax will surely drive ­holidaymakers abroad in search of better value getaways. 

“If it comes into force, the tax will ultimately lead to the closure of many parks and lots of job losses.” 

TODAY Sun Travel is urging our readers to stand behind our campaign to Stop The Holiday Tax.

The Government is proposing to allow local authorities the right to tax overnight stays in holiday parks, campsites, cottages, B&Bs and hotels.

That could see the cost of some of the cheapest stays at our beloved holiday parks almost DOUBLE.

The new proposals, originally announced during the Budget, could mean a £2 tax per person per night on staycations.

That would mean £70 extra for a family of five taking a week-long break.

And that’s after you’ve paid 20 per cent VAT on your trip.

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Most families already pay higher prices because of increased demand for travel during the school holidays.

The proposals will mean that many of those who have the least will be forced to pay more for precious breaks, including the many thousands who enjoy our own Hols From £9.50 trips.

The move has been met with dismay by tourism bosses and travel businesses who fear British holidaymakers may just decide to head abroad instead — or not be able to afford a break at all.

The new taxes would also have an impact on those visiting the UK from abroad.

Research from the World Travel & Tourism Council has found at least £14billion could be lost from the UK economy if daily visitor taxes were introduced.

As an industry, travel and tourism supports 4.5million jobs in the UK, the WTTC said, equivalent to roughly one in eight jobs nationwide.

But their research found that 29 per cent of visitors from the US, France and Germany — the largest inbound tourist markets — would consider alternative destinations or just decide not to visit if a substantial tax is introduced.

The levy would hit tourism in seaside towns that are already struggling to attract visitors away from the lure of cheap foreign breaks.

Just last week, VisitEngland announced a £1million campaign to encourage holidaymakers to visit the UK’s north west coast.

How can taxing those very staycation tourists help boost visits to areas of the UK where they are already having trouble attracting holidaymakers?

To show your support for our campaign and to see just how it could impact you, go to our website at StopTheHolidayTax.uk.

Enter your name and postcode and it will automatically write a message to your MP on your behalf asking them to stop the holiday tax.

The site also has a handy calculator to show you just how much it could end up costing you if the new rules go ahead.

We must stop this hols tax madness

SUN Holiday fans Diane Hunter and Michael O’Brien are already packing their bags for their next bargain break – four nights at Parkdean Resorts Whitley Bay Holiday Park, Tyne & Wear, in two weeks’ time.

But the couple, who have been on more than 200 of our great getaways in the past 20 years, are furious at the Government’s proposed holiday tax.

Retired fork-lift truck driver Michael, 61, says: “It’s an absolute disgrace.

“Just a couple of weeks ago, coinciding with my birthday, I had a major operation to remove a stomach ulcer. This break is part of my recuperation.

“But the threat of this added tax has only added to my anxiety and just shows the present Labour administration does not care about ordinary folk.

“I’m never going to agree with this idea.”

Michael and retired office worker Diane, 57, already have an astonishing nine Sun Holidays booked this year.

The couple, of Grangemouth, near Falkirk, say the value-for-money breaks put the icing on the cake of their time together. Michael feels Labour is now clearly targeting hard-working families as well as the less well-off.

He says: “The amount involved might not seem a lot, but it could mean the difference between being able to afford a holiday or not.

“Labour is scraping the bottom of the barrel here.

“So, we have no hesitation in backing The Sun campaign.

“People have to stand up and fight to stop this madness.”

‘Lots of us will lose out on trips’

JACK CULLWICK went on his first holiday in eight years this week.

With his wife and two sons, aged eight and two, he was spending half-term at Beverley Holiday Park in Paignton, Devon.

Jack, 33, of Stratford-upon-Avon, Warks, runs his own transport business and can’t take holidays overseas because he needs to be close to work, even when he’s off.

He says: “The holiday tax is a terrible idea.

“There are so many people who can’t go abroad for a number of reasons, whether it’s to be nearby for family or because of their jobs or being on call.

“If we’re priced out of coming away in the UK, plenty of people won’t have a holiday at all.”

THERE’S a line in Badlands, one of Mumford & Sons’ new songs, that feels like a mission statement for new record Prizefighter.

Singer Marcus Mumford says: “The lyric says, ‘Don’t look down now/I’m not done here yet’. I was listening to that song today and that’s the sentiment of Prizefighter.

“We try really f***ing hard, we want to be great. And I think we’ll keep trying.”

I’m chatting to Mumford and keyboardist Ben Lovett in Bath, a few hours before they are due on stage at The Forum to celebrate the release of their new album.

“We feel very fortunate to be launching our sixth album, it’s a big deal,” says Lovett.

“It’s a marker of beyond the creativity and how we feel about the music itself. “When we started this band, it was all about longevity for us.

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“And it feels great to be coming up to 20 years as a band and feel like we want to do another 20.

“That’s a big statement of success for us.”

The pair are seated together on a sofa, comfortable and clearly energised by their new record.

It’s hard to believe it’s only 11 months since fifth album Rushmere signalled their return from a seven-year hiatus.

For Prizefighter, they worked with producer Aaron Dessner from US rock band The National.

They had worked with him on 2015’s Wilder Mind, and they crossed paths again while mixing Rushmere in Electric Lady Studios in New York City.

Mumford says: “Aaron showed us the beginning of an idea for Prizefighter, the song he’d written with Bon Iver’s Justin Vernon.

“And we instantly started writing on it.

“Aaron’s always writing music with his mates for fun. He then played us a snippet of what became new single The Banjo Song that he’d started with Jon Bellion as a sketch.

“This was the be­ginning of the record, a beginning of ideas, like we do with each other all the time. It was just for fun to see where it goes.”

Mumford & Sons have continued as a trio since founding member Winston Marshall departed in 2021 after publicly expressing support for a book by right-wing American journalist Andy Ngo.

Lovett explains: “We got together in January 2023 and started making music without any agenda and I felt very free.

“That was the right thing to do. That was the right start or restart after Marcus’s solo record [2022’s Self-Titled].

“And it was the first time we’d played together in a couple of years. It felt like riding an old bike.”

Their first new music came in the form of Good People — a surprising collaboration with Pharrell Williams in 2024.

“That record was a very different experience but showed us that we have range and versatility,” says Lovett.

“So, by the time we got to the studio with Aaron, we were confidence high. We loved it and wanted to be curious creatively, from a place of positivity.

“And that’s basically how the record got in to motion.”

Mumford says stepping back was crucial to finding their confidence again.

“I am less insecure about being an artist,” Mumford tells me. “I will go off to a coffee shop and read poetry and do it unapologetically.

“I’m also more playful with my lyrics. I love Clover in particular.

“I just didn’t have the confidence to be tongue-in-cheek, surreal or even slightly ridiculous.

“Those types of lyrics would never have got on any previous albums.

Aaron, like Pharrell and Dave Cobb, who produced Rushmere, sat us down and gave us quite a serious talking to about believing in ourselves and looking back at what we’ve done with pride while also looking ahead.

“Recognising our confidence and DNA at the same time is what led to us being able to write this record.

“There’s a lot of insecurity and confidence on the record and also nostalgia and ambition and so that’s why it’s called Prizefighter.”

Lovett adds: “We feel more comfortable in our own skin, with a stronger sense of identity than we’ve had as a band for a while.

“The success of Rushmere [their third No1 album] and touring last year gave us a big confidence boost and reminded us that people still care and we are having a good time.”

Prizefighter sees Mumford at their most collaborative. Gorgeous piano ballad Badlands features Gracie Abrams, while Chris Stapleton, Hozier and Gigi Perez are also guest singers.

Finneas, Dessner, Vernon, Bellion and Brandi Carlile are credited as co-writers on the record.

“We’ve always been a bit more protective in the studio,” says Mumford. “In the early days a band needs to set out their stall and show people who you are.

“We have always had this collaborative spirit where we’ve enjoyed playing with other bands but we’ve not really recognised that on record before.

“It felt the time to do it, so we’ve opened the doors and it’s been really fulfilling. It’s one big community.”

Gracie Abrams, a long-time friend of Mumford’s, was the first to hear the band’s new songs.

“I’ve known her right from the start,” says the singer. “Gracie was the first person to hear any of these demos, like before labels or managers or anyone else.

“And we found out recently that she came to one of our shows when she was 13.

“We’ve been friends for a long time. She’s amazing.

“With Badlands we asked her to pick any song to sing on and she said yes to that song which had been written to be her voice.”

Album opener Here was written with Grammy-winning country powerhouse Chris Stapleton in mind.

Mumford says: “I’m just a fan of his and I couldn’t get the idea out of my head that he should sing the second verse on Here.

“We hadn’t met, so I called him. We had a long conversation. We really connected. Then he heard the song and said, ‘Yeah, I’ll record it next week’. And he did. It was all pretty organic.

“We didn’t have a list. It was like, ‘Let’s send this to Andrew, aka Hozier, see if he wants to f*** with it’. And he said yes.”

Lovett adds: “It’s a simple environment up at Aaron’s Long Pond studio. We record then we sit around eating soup together.

“It’s not the glossy album where you’re stuck on the other side of the glass and the red light goes on and it’s your big moment.

“Making Prizefighter felt a much more human experience.”

Conversation With My Son (Gangsters & Angels) is another highlight on Prizefighter and a song that Dessner was a huge fan of.

“Yeah, Aaron was a huge advocate for that song,” says Lovett. “It felt like there was an opportunity to explore something musically and thematically that was a bit different to the rest of the record.”

Mumford, who has two daughters and a son with actress Carey Mulligan, adds: “It has a hymnal and intentionally repetitive, melodic thing like in a Trad Irish song.

“Ben is being modest but he had this clear vision for that song.

“Then we sat down and Ben made a little demo of his chord sequence, and I fell in love with it.

“I’d been writing some words that morning and it became an essential band moment.

“We sit quietly and play along until we have an idea. Ted Dwane was on the bass, Ben was on the piano, Aaron was playing a guitar, I was writing words.

“Aaron understands being in a band very well and when we play to our strengths. It fell together like that and is a good example of the alchemy of being in a band.”

Lovett, who has a young daughter with his partner, American fashion executive Molly Howard, says: “Having kids act as a mirror to your life makes you want to be a slightly better version of yourself.

“We all take fatherhood quite seriously and it means that when we’re together, it’s cherished in a very different way.

“There was a real fun and silliness to our 20s that was inefficient — like staying out until 5am just because, why not have one more?

“I think there’s something beautiful about treating this with more care. It’s a very precious thing.

“Being in Mumford & Sons is amazing and we’re lucky we get the opportunity to do this.

“And finding out we have people all over the place who appreciate that we continue to still do this, is a charger for Chapter Two.”

Mumford adds, smiling: “I would say we’re in the phase where we take our work more seriously but take ourselves less seriously.

“Making my solo album made me fall back in love with the band. I love these lads and the sense of belonging and home we get from being this band together.

“When we got back together it was like we renewed our vows.

“It’s very silly but a privilege so we’re really trying to be present and our audience has made us more grateful and appreciative. Seeing new and younger fans getting into the songs has been amazing.

“I think we’re about at the point of our career where Radiohead were when they released Hail To The Thief — that was my way into Radiohead. It’s my favourite record of all time. And through that record I discovered the rest of their catalogue.

“They’d always felt like my brother’s band, who is older than me, but then this album came out when I passed my driving test.

“I hope that Prizefighter is that first Mumford album for some people.”

Making an album so soon after another, has been inspiring and Mumford says: “We never want to turn the tap off. The tap still feels like it’s got something in it.

“We could have released Prizefighter a week after Rushmere, but we wanted to give people space and time, but now the idea is to be accelerating that process so that we can show people.

“I hope we can start writing songs and releasing them the next day, like Bruce f***ing Springsteen!

“Our Hyde Park show in July will be a celebration for us — the centrepiece of our year.

“We are inviting guests and friends and crafting the line-up at the moment.

“We’ve announced The War On Drugs, who are one of the best bands in the world and people know from working with Sam Fender.

“There’ll be more we can tell you about soon, which will be fun, we really put time and effort into those line-ups.

“Hyde Park is going to be wicked, with plenty of surprises on the day too.”

Lovett adds: “Prizefighter is important to us.

“As a band, we’ve had some fun getting here, but I think this album sets us up for a really bright future.”

• Prizefighter is out today.

MUMFORD & SONS

Prizefighter

★★★★☆

Feb. 13 (Asia Today) — South Korea’s government maintained its assessment for a fourth straight month that the economy is on a recovery track, citing strong semiconductor-led exports and a gradual improvement in consumption, while warning that weak employment growth and sluggish investment remain key challenges.

The Ministry of Economy and Finance said in its February “Recent Economic Trends” report that “the recovery trend appears to be continuing,” repeating wording it has used since November.

Exports rise, consumption edges up

January exports, based on customs-clearance data, rose 33.9% from a year earlier, the report said. Average daily exports increased 14.0%. Semiconductor shipments more than doubled, up 103%, while computers, wireless communications devices and automobiles also posted gains.

South Korea recorded a trade surplus of $8.74 billion, or about 12.6 trillion won ($8.7 billion), extending the surplus streak to 12 consecutive months, the report said.

The ministry cautioned that export growth remains concentrated in a limited number of items, including semiconductors, leaving the trend vulnerable to shifts in the global technology cycle and changes in U.S. trade policy.

On the domestic side, December retail sales rose 0.9% from the previous month. Fourth-quarter private consumption, based on preliminary gross domestic product data, rose 0.3% from the prior quarter.

The consumer sentiment index came in at 110.8 in January, above the 100 baseline, up 1.0 point from the previous month. Domestic credit card approvals rose 4.7% from a year earlier in January, supporting signs of a modest pickup in spending.

Hiring slows, capital spending stays weak

Employment growth slowed in January, with the number of employed people rising 108,000 from a year earlier, down from a 168,000 increase in the previous month. The unemployment rate rose 0.4 percentage points to 4.1%.

Jobs growth was led by sectors such as health and social welfare and transportation and warehousing, while hiring difficulties persisted in weaker areas such as construction, the report said.

Investment indicators remained mixed. Facility investment fell 3.6% in December from the previous month, dragged down by reduced spending on transportation equipment. Facility investment also fell 1.8% in the fourth quarter from the prior quarter, though some leading indicators, including machinery orders, improved.

Construction output rose 12.1% in December from the prior month, but construction investment fell 3.9% for the fourth quarter. A decline in building permit area was cited as a potential headwind.

Inflation cools to 2.0%

Consumer inflation rose 2.0% in January from a year earlier, easing from 2.3% in the prior month, the report said. Core inflation, excluding food and energy, also rose 2.0%.

The ministry said it will continue macroeconomic support and efforts to boost consumption, investment and exports, while monitoring risks including tougher tariff conditions among major economies and geopolitical uncertainty.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260213010004994

HAVE you ever dreamed of packing your bags and jetting off to find a place in the sun in Europe, but thought it wasn’t possible post- Brexit?

You might be surprised to learn how easy it is for British passport-holders to secure a visa to live in Portugal.

That’s exactly what I did last year, when, as a 39-year-old singleton, I rented out my one-bedroom flat in London and moved to Lisbon to work remotely on the D7 visa.

Here’s everything you need to know about why you should choose Portugal – and how to do the same thing I did.

Why move to Portugal?

When people ask me why I wanted to move to Portugal, I always say the same thing: the amazing weather!

I was thrilled to discover that temperatures reach 30C or more in July and August and rarely dip below 10C even in January, which makes a wonderful change from the endless rain and freezing winters that were really getting me down back home.

Plus, the nearest beaches to Lisbon are a 20-minute train ride along the coast at Carcavelos – or I can share an Uber with friends over the Tagus River to reach the stunning beaches at Costa da Caparica,
which is also a popular surfing spot.

I love having the culture and nightlife of the capital city on my doorstep.

But if you prefer a quieter life, you might want to head to the seaside suburb of Cascais, the picturesque former fishing town of Ericeira or the southern coastal region of the Algarve, which is particularly popular with Brits.

Wherever you go, the cost of living is much lower in Portugal than in the UK.

The rent for my modern two-bedroom apartment with a balcony and sunset views is around £1,100 a month – while I rent out my one-bedroom flat in London for £1,800.

Eating out is astonishingly cheap. I rarely pay more than £25 for two tasty courses and a couple of drinks.

A glass of delicious Portuguese white wine is around £2.50, and you can even get a whole bottle for the same price in supermarkets.

Taxis – a luxury I rarely enjoyed in London – are much more affordable too, with ride-hailing apps Uber and Bolt regularly applying automatic discounts of up to 45 per cent to try to attract customers.

My last trip back from the airport cost £6.50 for a 25-minute ride across the city.

Finally, it’s the slower pace of life that I love here.

The locals are friendly, it’s easy to make friends within the large expat community and the city is wonderfully walkable, so you don’t have to spend hours on public transport to get to work or meet up with friends (but if you do take the Metro or bus that’s super cheap too).

Since I quit my full-time job to go freelance and swapped dreary weather for sunshine and blue skies, my stress levels have plummeted and I couldn’t be happier that I chose to make Portugal my home.

What is the D7 visa?

Introduced in 2019 to attract foreign residents, the D7 is a passive income visa which requires you to prove you have an income of €10,440 (£8,825) a year from sources such as rental income, pensions or investment dividends – which works out to around £735 per month.

If, like me, you own a property in the UK and can make £735 a month in rent, you may be eligible for the D7 visa, which requires you to pay taxes in Portugal and stay in the country for eight months out of each year (or six months consecutively).

To apply for the two-year visa, you’ll first need proof of your passive income, such as a rental agreement, pension or investment statement.

You’ll need to obtain a NIF or Número de Identificação Fiscal (taxpayer identification number), open a Portuguese bank account and deposit savings of €10,440 (£8,825) for the first adult applying, plus 50 per cent of this amount for each additional adult and 30 per cent for each child, to prove you can support yourself or
your family financially.

You must show that you have secured one year’s accommodation in Portugal.

This could be a rental agreement or 12 months of Airbnb bookings, or if you happen to know someone who already lives in Portugal they can fill in what’s called a Term of Responsibility form to say you’ll be living with them.

You will also need six months of travel insurance and a DBS criminal record check issued by the UK government within two months of your visa application appointment.

Once you’ve ticked all these boxes, the next step is to make an appointment at the VFS Global centre Manchester or London to submit all your documents.

You will also have to hand over your passport, so make sure you don’t have any travel planned in the following 60 days, which is how long VFS Global estimates it takes to process a D7 visa.

However, my passport arrived back with my visa inside after just 22 days last May.

The D7 visa application process isn’t complicated but is time-consuming, so make a detailed to-do list that you can work through methodically.

I found Facebook groups such as ‘D7 Move to Portugal’ handy for asking questions whenever they cropped up during the six-month process.

For example, I learned there’s a branch of Portuguese bank Millennium BCP in London where you can open an account in person.

The hardest part for me was finding my apartment in Lisbon.

I viewed 17 flats during a 10-day trip, landing mine after applying for three flats in different neighbourhoods.

But now that I’m happily settled into my new life, I realise it was worth all the effort and admin.

My advice if you’re tempted to make the move and think you might be eligible for the D7 visa? Go for it!

WALKING back from her daily shop Beth Maitland, 32, isn’t worried about traffic jams, beeping horns or the cost-of-living crisis.

She’s more concerned about a local elephant trying to steal her bag of fruit.

It’s Beth’s ‘new normal’ since fleeing Britain over twelve months ago to begin her new life in Thailand, where rent is a fifth of the price, a dinner out costs just two quid, her front garden is a beach and her backyard rice paddies overlooked by a mountain range.

Thailand is routinely voted one of the top twelve destinations for Brit tourists where the pound goes a long way.

It’s estimated 55,000 Brits, from backpackers to retirees, have chosen to bail out of Britain, trading cold, gloomy weather for the tropical paradise and beaches known as the Land of Smiles.

Relocations have soared by a staggering 255 per cent since 2018, driven by Thailand’s Long-Term Residence or LTR visa which offers 10-year residency with tax exemption.

Beth, a former NHS maternity support staffer moved from Plymouth, Devon to the island oasis of Koh Samui in southern Thailand in March last year.

Talking exclusively to The Sun, Beth revealed: “I rent a two-bedroom cottage in the jungle, there are rice fields on one side, jungle on the other and it’s 15 minutes to the beach. From the roof I can check out the surf or plan a mountain hike in the other direction.

“If I paid the price I was paying in the UK, which was £700 for a studio flat in Plymouth, I could get a four-bedroom house with five bathrooms, a pool and a garden on the island’s outskirts with elephants as neighbours.

“The first month converting pounds to Thai currency – the Baht – was a nightmare and so was finding the perfect place to live. 

“Now it’s like I have lived here all my life. I am always shocked at how cheap food, accommodation and transport is compared to Britain. 

“The cost of living is so cheap I eat out for lunch and dinner every day. I haven’t had a ready meal since I moved here.

“Everything except British food is cheaper. For the first time in a decade, I feel I have a positive future, can buy a home, and achieve my career goals.”

Millennial Beth grew up in Plymouth and loved surfing in the summer months when the weather was good enough. 

She spent the next seven years working twelve-hour shifts as a nursing home assistant in Exeter before spending six months backpacking in Australia and Asia.

“I felt inspired by the Asian culture but thought I’d never be able to work or move there.

“I came back home in December 2019 to miserable winter weather and started work as an NHS maternity support staffer.”

Brighter future

When Covid hit, Beth says she found herself re-examining her life.

“Working during lockdown for the NHS was a privilege but it took its toll. I lost friends and patients.”

When the cost-of-living crisis hit Beth felt overwhelmed by work and a feeling her future wouldn’t be the one she wanted if she stayed in Britain.

“After rent and bills were paid, I was saving no money at all. When I hit 30, I knew if I didn’t act, I’d been in the same place with no savings when I hit 40. I couldn’t let history repeat.

“The government wasn’t offering young people like me hope. My friends could only buy a house if their parents helped.

“Other friends were marrying and having children admitting that they felt the goals they wanted for their twenties were no longer possible.”

It was when two of her close friends left to become digital nomads in Thailand and Bali in January 2024 Beth was inspired to act, realising she had a choice – commit to miserable weather, rising prices and a job in the NHS which wasn’t offering career development, or take a gamble, pursue a new career and move to Asia herself.

“Many of my work colleagues were shocked,” she says. “They couldn’t comprehend moving overseas, let alone to Thailand.

“It was terrifying and exciting for me but having friends living and working there already kept me going.” 

Beth isn’t the only millennial making the life-changing decision to flee to a new country instead of settling down and concentrating on their career here.

I sometimes think I have a career and life whiplash at the speed and dramatic change which occurred

Beth

The Currencies Direct’s British Expat Report 2024 revealed nearly 40 per cent of Brits are considering moving overseas due to the cost of living while a fifth, like Beth, feel a fresh start in another culture would be beneficial for their wellbeing and mental health.

And it’s the young who are leading the great British brain drain, and more than a third of people under 24 are planning to leave Britain in the next five years. 

Dramatic change

After a tip from a friend based in Thailand, Beth applied online as a full-time travel manager running group tours.

Just two Zoom interviews later and she was offered the job and within two months was living and working in Thailand.

Beth says even she was shocked by how quickly her life changed.

“I sometimes think I have a career and life whiplash at the speed and dramatic change which occurred.”

She explains: “I used to work part-time at holiday camps during my teenage years. As a maternity support worker, I was good at helping people before, during and after labour with all ranges of problems. 

Now two weeks of every month Beth travels with 30 holiday makers, overseeing their organised tour of Thailand’s islands and regional areas.

“Imagine running a creche on wheels for people of all ages and from all different countries on their first overseas holiday. I love it,” she says. 

“There is never a dull moment. People want to know if we are there yet, where the meet up point is, what the Wi-Fi code is, if they need sunblock, can they borrow a charger and when we are stopping for food. Or the loo.

“I must be a mother, nurse and organiser. I tell people making kittens and squirrels walk in a straight line is often easier.”

Beth then gets two weeks off and either spends time at her rented cottage or using it as a base to travel to other Asian countries.

She pays £150 a month rent for the two-bedroom countryside cottage which includes her water, electricity and air conditioning, as well as use of communal pool and gym.

“There are ten cottages and it’s full of long-term Brits based here. My phone bill is £20 a month and I share it with a friend.”

Beth says she now rarely cooks because the price of food at local restaurants and roadside food carts is so cheap.

My diet has improved dramatically. I haven’t had a microwave meal since I moved here. It’s fresh fruit and vegetables every day

Beth

“I have fruit or cereal for breakfast. I eat lunch and dinner out. It costs £2 for lunch or £3 for dinner. I usually grab stir fry, curry, Thai soup or rice dishes as well as a dessert, usually a sorbet, fruit platter or ice-cream.

“My diet has improved dramatically. I haven’t had a microwave meal since I moved here. It’s fresh fruit and vegetables every day.”

Cheap living

Grocery shopping isn’t the weekly trek to the supermarket like it is in Britain.

“I go to the local markets and buy bags of fruit and fresh meat if I plan to cook, which isn’t often.

“A pint of milk costs the equivalent of 56p, a large loaf of white bread is around 90p, a dozen eggs are 90p, a half a kilo of red meat is £7, chicken is just £1.85 a kilo. Cheese is the most expensive item costing £7 to £8 for half a kilo.”

Beth admits she does miss her British staples and those that are available come at a price.

“HP sauce costs £6 a bottle, Heinz Baked Beans are an eye watering £4.50 while a Lindt chocolate bar sets you back a fiver,” she says.

“I usually grab bread, milk, some cheese and a huge bag of vegetables and fruit for a fiver. Fortunately, good quality tea bags only cost £1 for a box here.”

Beth says wine is expensive costing £12 to £15 a bottle but local beers cost £1-£1.20 for a half litre bottle and cocktails are between £2 and £3.50, depending on the spirits you choose.

“If you go to a five-star hotel you will pay more. 

“Gym membership is £22 a month and a trip to a foreign cinema is £5.60 if you are missing home.

“I had to hunt down a good cafe for a cappuccino and it costs £1.70 for a catch up with my mates. I was paying £5.60 for a posh coffee at Starbucks in the UK, I can’t believe it.”

Beth says she doesn’t need a car and uses the local car or bike service called ‘Grab’, which is similar to Uber, to book travel online.

“A bike, which means I am a pillion passenger, is 50p and a taxi is around 78p a mile.

The standard of health care is better than Britain

Beth

“When I first moved here, I refused to use the motorbike ‘cab’ – now it’s second nature.

“If you do own or rent a car it costs 96p a litre to fill up the tank. A new Toyota Corolla sedan costs on average £19k new.”

Beth says if you have children private preschool starts at £275 a month per child and the private international primary school begins at £4,500 a year.

“I was stunned by the brilliant quality of healthcare available here in Thailand. When there was no delay to see a dentist or doctor I was gobsmacked. 

“The standard of health care is better than Britain.” 

Beth recently paid £50 to see a dental hygienist and £150 for a tooth extraction and filling. Back home I’d either be forced to wait one or two years to get an NHS dentist or pay more than £500 plus for the dental work.

Dinner splurges

According to financial website livingcost.org, Britain is ranked as the 11th most expensive country in the world while Thailand is the 114th most expensive.

Beth told us: “The cost of living is a lot cheaper – from shopping, to petrol, accommodation to food.

“If my friends and I went out for a splurge dinner, that costs us around a tenner for food and drinks all night plus the cab home.”

Beth usually buys her clothes at the local market but if she wants a retail hit H&M have stores in Thailand.

“If it gets hot, I peel off a layer. It can get cold during the equivalent of the winter months, and I pop on a sweater.

“It’s the wet season that causes problems but you learn to keep umbrellas handy.”

According to Beth, Thailand is now extra popular on the backpacking must-visit list with marijuana being legalised.

I feel calmer, more centred, and less stressed living here than I did in Britain

Beth

“Holiday makers are often shocked that pot cafes exist and pot is legally sold here,” she said.

Many of my thirty-something friends are moving here because Thailand is well known for its amazing spiritual and mental health clinics and holidays.

“It’s a very spiritual country. For people in their thirties moving here often means setting up wellbeing businesses or mediation and other fitness styled retreats.

“I feel calmer, more centred, and less stressed living here than I did in Britain,” she said.

“Everyone is meditating or trying a new yoga or healthy living trend.

“It’s a way many Brits not only embrace a new way of living, but a new career counselling or operating healing centres others move here to set up online businesses.”

Beth loves her new career path and says she is saving to buy a property on Koh Samui. 

“You can spend £70k for a basic three-bedroom apartment with four bathrooms, a communal pool and a countryside view. 

“When you consider that wouldn’t get me a static caravan in Britain it’s a brilliant option.”

Beth admits she misses her family and friends.

“I was homesick for the first six weeks. I try to come back to Britain once or twice a year.

“Once you make a few friends, join the various social media groups for expats and get yourself into a routine it becomes a new normal.

“I have hope again. I thought I would never feel this way. It turns out sun, surf and wrangling tourists is the perfect tonic.”