In this article, we will look at the 12 best places to retire in Guatemala. If you wish to skip our detailed analysis on retirement in Guatemala, you may jump to the 5 Best Places to Retire in Guatemala.
Economy of Guatemala
Guatemala is one of the most populous countries in Central America. Located south of Mexico, the country is home to 17.1 million people. According to USAID, Guatemala is also one of the region’s largest and most industrial countries, boasting a large pool of workers, a historically stable economy, and a steady currency. If ten products are being sold in Central America, four must have been made in Guatemala.
As of 2020, the country had an annual growth of 3.1% and a Foreign Direct Investment topping more than $900 million. The last two years have further witnessed the economy of Guatemala growing at an average annual growth rate of 3.4%, with real GDP estimated to be $77 billion at the end of 2022. Regarding macroeconomic stability, Guatemala ranks in the top ten amongst Latin America and Caribbean countries, and is also the largest exporter of goods in Central America.
Business in Guatemala can be a very prosperous affair, largely due to its advantageous location. Its proximity to Mexico and other Central American countries makes its location quite strategic, reaching 68 million inhabitants, as well as a GDP of $319 billion. As such, a number of organizations have played a key role in enabling economic growth in Guatemala. Citi Guatemala, operating under Citigroup Inc. (NYSE:C), is one such banking organization in the country. Citigroup Inc. (NYSE:C) Guatemala offers first-class products and services to customers in the Corporate & Investment Banking sector in the country. Besides Citigroup Inc. (NYSE:C), the EU and USAID have also been helping the country in its economic development.
Retiring to Guatemala
Like many other people, Americans are looking to stretch their retirement savings by moving to cheap countries abroad. As such, some of the cheapest countries for retirement include Chile, Portugal, Romania, and Thailand, to name a few. For those who wish to retire to cheap yet safe countries, we have also compiled a list of the cheapest and safest countries for retirement, uncovering Moldova, Indonesia, Mongolia, and Ghana in the process.
While these may be suitable countries for expats to retire to, another blossoming retirement destination these days is Guatemala. There are many pros and cons of living in Guatemala. Pros of living in this Central American country include its pleasant weather, low cost of living, and friendly locals. There is a sizeable expat population in the country, with various groups and clubs to keep busy and socialize.
Cons of living in Guatemala are that while medical visits and basic procedures in healthcare can be inexpensive, many surgeries and treatments are on the contrary. Expats caution potential retirees not to cancel their Medicare because they might need it. Moreover, the quality of healthcare varies outside of Guatemala City. Also, the cost of living in Guatemala City is relatively expensive when compared to other places in the country.
Another disadvantage of living in Guatemala is that some places in the country are not very safe. US Department of State advises not to travel to places such as San Marcos Department (except San Marcos), Huehuetenango Department (except the city of Huehuetenango), Zone 18 and the city of Villa Nueva. To avoid crimes, gated communities in Guatemala City are a good option for expat retirees. Regardless, even though some parts of the country are unsafe, the entire country isn’t.
In fact, more and more expat retirees are considering Guatemala as their next retirement destination. For your ease, we have determined the best places to live in Guatemala:
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Methodology
In order to compile the list of best places to retire in Guatemala, we have used 6 (1,2,3,4,5,6) sources. We also relied on forum discussions such as Reddit and Quora from expats retiring in Guatemala to gather their insights and experiences regarding the best places.
Each time a source mentioned a place, it was awarded one point. Places were ranked in ascending order from the lowest to the highest scores. For tie-breaking, places with lower costs of living have been placed higher on our list.
The cost of living for a single person per month is sourced from the cost of living and nomad list, amongst others. For places where the cost of living isn’t discussed, we have assumed it to be the Guatemala average, i.e., $1,036.
12. Flores
Insider Monkey Score: 2
Nestled on an island in Lake Petén Itzá, Flores is one of the best places to retire in Guatemala. This rainforest-covered, mountainous island is ideal for retirees who wish for a laid-back lifestyle, embracing peace and relaxation. Retirees love to take boat cruises across Lake Petén to view the picturesque scenery and watch a variety of bird species, such as herons, cormorants, kingfishers, and more.
Living in Flores also gives its residents the opportunity to visit the ancient Mayan city of Tikal, a UNESCO World Heritage Site. Exploring Mayan ruins and learning about its heritage can be a fun pastime for those who are interested in history and culture. There are plentiful restaurant choices to choose from as well, from local to international. Overall, the town is nice and clean, full of colorful, brightly painted buildings. Retirees often visit larger cities for modern amenities and high-quality healthcare. Rent for a one-bedroom apartment per month is around $500, and a single expat can manage living here under $1,000.
11. Ciudad Vieja
Insider Monkey Score: 2
Ciudad Vieja may not be your typical retirement destination, but a number of reasons may encourage you to call it home. For instance, this town in Guatemala has a certain historical appeal to it, thanks to its historical ruins and colonial architecture. Since it is a small town, retirees can relax and enjoy a laid-back lifestyle here. Small towns also mean closer-knit communities, which is exactly what Ciudad Vieja offers its residents.
Situated near the volcanoes of Agua, Fuego, and Acatenango, the town also boasts scenic views that contribute to a pleasant retirement experience. There are cultural events and local markets happening from time to time, offering residents to explore culture and socialize. The small town is generally more affordable than the bigger cities, with the cost of living being lower than the national average.
10. Río Dulce
Insider Monkey Score: 2
Río Dulce, or Sweet Water, is a blooming retirement destination in Guatemala. This town and stunning river offers striking scenic beauty, from the meandering Río Dulce River to lush forests and tropical landscapes. The river and Lake Izabal are perfect spots for recreational activities such as kayaking, fishing, boating, etc. Retirees also love the tropical climate here, with warm temperatures year-round.
Hundreds of catamaran, yachts, and houseboats are anchored permanently in the marinas, making it a popular spot for sailors and boaters. The town also offers some wellness centers, yoga studios, and other relaxing opportunities. The area has been attracting a growing expatriate community as well. The cost of living is lower than the national average.
9. San Pedro La Laguna
Insider Monkey Score: 3
San Pedro La Laguna is a town in Guatemala situated on the southwest shore of Lake Atitlan. It is one of the best places to retire in Guatemala because of its vibrant nightlife, growing expatriate community, and affordability. Retirees enjoy stunning lake views and surrounding volcanoes from the comfort of their homes in a laid-back atmosphere.
There are many outdoor activities to indulge in, including birdwatching, kayaking, hiking, and swimming. Since the town is traditionally Mayan, residents also get to experience the traditional culture associated with it. Moreover, it is also affordable as compared to other places. The average cost of living per month is $1,250, with approximately $500 spent on the monthly rent of a one-bedroom apartment.
8. Santa Cruz la Laguna
Insider Monkey Score: 3
Santa Cruz la Laguna is situated on the shores of Lake Atitlan, offering a breathtaking panorama of the lake and surrounding volcanoes. Retirees prefer this town due to its tranquil vibe, scenic beauty, and unique blend of natural and cultural elements. Not only do they get to enjoy lakefront views of the water, but they also get a chance to embrace the relaxing environment that comes with it.
However, this area can only be reached by boat. Those who are conscious about their wellness should consider retiring to this wellness-oriented village, as it offers numerous wellness and meditation centers, yoga retreats, and similar workshops. The traditional Guatemalan cuisine is a plus here, and so are lakeside restaurants and local eateries. All in all, retiring to Santa Cruz la Laguna can be a relaxing experience.
7. San Marcos la Laguna
Insider Monkey Score: 3
San Marcos la Laguna is a village situated on the shores of Lake Atitlán in Guatemala. San Marcos la Laguna has gained itself a place on our list of best places in Guatemala for retirement due to its natural beauty, holistic wellness, and laid-back atmosphere. The lake and surrounding hills are the perfect backdrop for retirees to call home in this village. It is also a hub for holistic wellness, known for its wellness retreats, yoga, and meditation.
Diverse recreational opportunities are available such as hiking, kayaking, and nature walks. Retirees may also enroll themselves in a language school to improve their Spanish. A single expat retiree can live under $1,000 a month in San Marcos la Laguna.
6. San Juan La Laguna
Insider Monkey Score: 4
Retirees get to enjoy a unique and culturally rich experience when they choose San Juan La Laguna as their retirement home. Sometimes referred to as the chocolate village of Guatemala, San Juan is full of bright colors and art. Colorful murals reflect the town’s local culture and showcase creative displays. The community in this town is very well-knit, and retirees are quick to feel at home. The cost of living is based on the Lake Atitlan average of $1,250 per month for a single retiree living here.
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Disclosure: None. 12 Best Places to Retire in Guatemala is originally published on Insider Monkey.