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Travel + Leisure, a world-renowned travel magazine, has just released its assessment of countries suitable for retirement travel. The publication uses data updated to June 2022, taking into account factors such as weather, location, access to healthcare, language, visa requirements, and average income.
Mexico
Located just south of the U.S. border, with its warm weather, long coastline, numerous places to live, and beautiful cities, Mexico is a popular destination for retirees and vacationers alike. The cost of living is generally low, and cities throughout the country offer many advantages for relaxation and rejuvenation.
For example, in Cancun, a tourist area on the Caribbean coast, the cost of living is 61% lower and rent is 85% lower than in New York City. In San Miguel de Allende, a charming city deep in Mexico, the cost of living is 57% lower and rent is 76% lower than in other major cities in the United States.
Healthcare services are readily available to the public through government insurance programs for low-income individuals. In addition, private hospitals and specialists provide high-quality care at affordable costs. Therefore, retirees have many healthcare options to choose from depending on their needs and circumstances.
Ecuador
With hundreds of kilometers of coastline, an active volcano, breathtaking natural beauty, and a large expatriate community, Ecuador is currently attracting many retirees from the United States and other countries seeking a relaxing vacation.
One of the advantages is that Ecuador uses the US dollar as its currency, and many people in major cities can speak English. The average cost of living in Ecuador is 49% lower than in the United States. In Cuenca, a UNESCO World Heritage site, the cost of living is 62% cheaper and rent is approximately 88% lower than in New York.
Located in the highlands of Ecuador, the city of Cuenca enjoys a mild climate that helps reduce heating and air conditioning costs. High-quality healthcare is available at a much lower cost than in the United States. Retirees from overseas can access the government-provided healthcare system for approximately $100 per month, or they can opt for private health insurance if they wish, at a higher cost.
Costa Rica
This Central American nation, stretching from the Pacific Ocean to the Caribbean Sea, boasts a diverse ecosystem with rainforests, pristine beaches, and modern urban areas. Climate, environment, and costs vary across the country; however, the overall cost of living is approximately 38% lower and housing prices are 72% lower than in the United States.
In San Jose, the capital city of Costa Rica, the cost of living is 55% lower and rent is 82% lower than in New York. Retirees can choose to live in the city or in the suburbs, and either way, they have access to amenities provided by the San Jose city government, as it is a popular tourist destination. Residents can choose between government-funded public healthcare or pay for private medical services.
Portugal
Portugal has become one of the most popular destinations for both retirees and tourists of all ages from around the world thanks to its beautiful scenery, coastal cities, wine, delicious food, and mild weather.
The cost of living is about 37% lower and housing is about 54% lower than in the United States. In the capital Lisbon or the seaside city of Porto, about 200 miles north of Lisbon's coast, the cost of living and rent are also significantly lower than in New York City.
Legally residing tourists can register with the National Health Service to receive medical care at public hospitals and health centers. Those with sufficient financial means often register to use private medical services.
Vietnam
Vietnam is also a very suitable place to retire, especially for those who enjoy adventure, love beautiful beaches, scenery, cuisine, history, and unique local culture.
The total cost of living is approximately 49% lower and rent is approximately 75% lower than in the United States, depending on the specific location. In Ho Chi Minh City, the cost of living is 62% lower and housing is approximately 83% lower than in New York City.
High-quality healthcare services are very affordable in both public and private healthcare systems. Most foreigners have international health insurance, so they choose private hospitals to access healthcare services.
"Most healthcare workers in private medical facilities can communicate with foreign patients in English," said International Living.
Panama
Ranked at the top of the "Best Countries to Retire in 2022" list on the Global Retirement Index published annually by International Living, Panama is now an ideal destination for those planning for retirement.
Located not too far from the United States, with many transportation options, a mild climate, and a low cost of living, Panama has been attracting the attention of many retirees. Housing costs are approximately 58% lower and the average cost of living is about 31% lower than in the United States.
Panama has a two-tiered healthcare system with hospitals, clinics, and doctors serving both the public and private sectors. Most foreign retirees prefer the private healthcare system due to better facilities and more reasonable prices.
Montenegro
As a popular tourist destination with stunning seaside resorts, Montenegro is beginning to attract the attention of expats and retirees.
Beautiful scenery, European characteristics, friendly and hospitable people, and a low cost of living make it an attractive place to retire. The average cost of living is 48% lower and rent is approximately 75% lower than in the United States.
Both public and private healthcare services are available in Montenegro. Pensioners and expatriates often purchase private insurance, including medical evacuation coverage, which provides the option of receiving medical treatment in another country if needed.
Colombia
With its stunning beaches, rainforests, mountains, and numerous modern urban areas, this South American country is increasingly becoming a popular tourist destination, attracting both tourists and retirees alike seeking relaxation and enjoyment.
The cost of living in Bogota is approximately 62% lower and rent is 82% lower than in the United States, while the cost of living is 71% lower and housing prices are 88% lower than in New York. Colombia's healthcare system includes modern public and private hospitals, offering high-quality care at affordable prices.
