Travel + Leisure, a world-famous travel magazine, has just released a ranking of countries suitable for retirement travel. This site 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 warm weather, a long coastline, plenty of places to live and beautiful cities, Mexico is a popular destination for retirees and vacationers. The cost of living is generally low, and cities across the country offer great opportunities for a relaxing getaway.
For example, in Cancun, a resort on the Caribbean coast, the cost of living is 61% lower and rents are 85% lower than in New York, USA. In San Miguel de Allende, a charming city deep inside Mexico, the cost of living is 57% lower and rents are 76% lower than other major cities in the "land of the stars and stripes".
Health care services are readily available to the people through government insurance programs for low-income people. In addition, the system of hospitals and specialists in the private sector provides high-quality care at affordable costs. Therefore, retirees have many options for health care services according to their needs and conditions.
Ecuador
With hundreds of miles of coastline, an active volcano, unspoiled natural beauty and a large expat community, Ecuador is attracting retirees from the United States and other countries.
One of the advantages is that Ecuador uses the US dollar as its currency and many people in the major cities speak English. The average cost of living in Ecuador is 49% lower than in the United States. In the city of Cuenca, a UNESCO World Heritage Site, the cost of living is 62% cheaper and rent is about 88% lower than in New York.
Located in the highlands of Ecuador, Cuenca enjoys a temperate climate that reduces heating and air conditioning costs. High-quality health care is available at a much lower cost than in the United States. Retirees from abroad can enroll in the government-provided health care system for about $100 a month, or they can opt for private health insurance at a higher cost if they prefer.
Costa Rica
This Central American country stretches from the Pacific Ocean to the Caribbean Sea and has a diverse ecosystem with tropical forests, pristine beaches, and modern urban areas. The climate, environment, and costs vary from place to place throughout the country; however, the overall cost of living is about 38% lower and housing prices are 72% lower than in the United States.
In San José, Costa Rica’s capital city, the cost of living is 55% lower and rents are 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 city of San José, a popular tourist destination. Residents can choose between government-funded public health care or pay for private health care.
Portugal
Portugal has become one of the most popular destinations for both retirees and visitors of all ages from all over the world thanks to its beautiful landscapes, coastal cities, delicious wine, 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 city of Lisbon or the coastal city of Porto, about 200 miles north of Lisbon, the cost of living and rent are also much lower than in New York City.
Legally resident visitors can register with the National Health Service for access to public hospitals and health centers. Those with the means usually register for private health care.
Vietnam
Vietnam is also a very reasonable place to retire, especially for those who love adventure, beautiful beaches, landscapes, cuisine, history and unique indigenous culture.
The total cost of living is about 49% lower and rents are about 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 about 83% lower than in New York City.
High quality healthcare is very affordable in both the public and private health systems. Most expats have international health insurance and so they choose private hospitals for their healthcare.
“Most medical staff in private medical facilities can communicate with foreign patients in English,” said International Living.
Panama
Ranked number one in the list of "Best Countries to Retire in 2022" in the Global Retirement Index published annually by International Living, Panama is now an ideal destination for those planning to retire.
With its proximity to the United States, transportation options, mild climate, and low cost of living, Panama has been attracting the attention of many retirees. Housing costs are about 58% lower and the average cost of living is about 31% lower than in the United States.
Panama has a two-tier health care system with hospitals, clinics and doctors serving both the public and private sectors. Most foreign retirees prefer the private health care system due to better facilities and reasonable prices.
Montenegro
A popular tourist destination with stunning seaside resorts, Montenegro is starting to gain traction with expats and retirees.
Beautiful scenery, European location, friendly and welcoming people and low cost of living make it an attractive place to retire. The average cost of living is 48% lower and rents are about 75% lower than in the United States.
Both public and private healthcare are available in Montenegro. Retirees and expats often purchase private insurance, which includes medical evacuation, giving them the option to seek medical treatment in another country if needed.
Colombia
With its beautiful beaches, rainforests, mountains and modern urban areas, this South American country is becoming an increasingly popular tourist destination, and many tourists and retirees come here to enjoy and relax.
The cost of living in Bogota is about 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 health care system includes modern public and private hospitals, with high-quality care at affordable prices.
