This article takes a look at the 5 best expat retirement countries in the world. If you wish to check out our detailed analysis of the growing trend of retiring abroad, you may go to the 18 Best Expat Retirement Countries in the World.
5. United Arab Emirates
Insider Monkey Score: 12.33
The United Arab Emirates makes it to our list because of good rankings in health and well-being, quality of life, and ease of settling in. Expat Insider Survey ranks it at 10th, 4th, and 18th places respectively. The cost of living in the UAE is 21% cheaper than in the USA, notes Numbeo. Expats can enjoy modern amenities and a high-quality lifestyle for an average of $3,500 per month. Retiring through the Dubai Retirement Visa means being 55 years or older, and either buying a property worth AED 2 million or having financial savings of at least AED 1 million.
4. Mexico
Insider Monkey Score: 12.76
According to the Expat Insider Survey, Mexico is the world’s best country for expats. 90% of expats deem the locals to be friendly, and 74% find it very easy to socialize and make friends. Most of them also have a support network and many local friends. Living costs are extremely affordable for expats, and 80% of individuals are happy with their financial situation. An individual expatriate can live on as little as $600 per month. Even in more populous urban centers, a comfortable existence can be sustained with a monthly budget of $1,000.
3. Portugal
Insider Monkey Score: 13
Portugal has been consistently performing well in the Quality of Life index, notes Expat Insider Survey. The survey notes that 22% of individuals move to the country for a better quality of life, while 17% do so because they wish to retire abroad. The country is an attractive option for expat retirees owing to its affordable living costs, quality healthcare, and safe environment. The Global Peace Index 2023 ranks it as the 7th most peaceful country in the world, and expats can live here with peace of mind. The country is also one of the cheapest to retire in Europe, and an individual expat can retire for $1,500 per month.
2. Spain
Insider Monkey Score: 14.67
When it comes to quality of life, Spain ranks 1st in the Expat Insider Survey. Expats love it for its opportunities for recreation, culture, nightlife, and the diverse range of culinary options available. 94% of expats are also happy with the climate and weather in Spain, notes the survey. Spain also ranks in the top 10 in the health and well-being category, with more than 80% expats happy with the affordability and availability of healthcare. The cost of living is affordable too, and expats report to live a comfortable lifestyle on $2,000 a month.
1. Taiwan
Insider Monkey Score: 16.67
Ranking 1st in health and well-being, 2nd in quality of life, and 17th in ease of settling in; Taiwan is the ultimate retirement destination in the world. Expats report finding healthcare to be widely available and affordable. They also express a sense of safety and satisfaction living in the country. Cost of living is 32.8% lower than in the USA, according to Numbeo.
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