The 10 Best Places to Retire Around the World

Retire to a country that offers ex-pats a comfortable life on a modest budget.

June 23, 2022

By: Lynn Coulter

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Where to Spend Your Golden Years

When you're ready to retire, consider moving to a country where the cost of living is low, the quality of life is high and the weather's great. You'll also want excellent healthcare, modern conveniences (high-speed Internet, anyone?) and beautiful scenery. Forget lunches on plastic trays and Bingo games in senior centers; instead, sample international cuisines, lounge on pristine beaches, tour world-class museums or sail and swim in a country that welcomes retirees.

Before you turn ex-pat, do some research. Look for a culture, climate and customs that fit your lifestyle, or that you can adapt to and appreciate. Want access to golf courses, shopping, dinner clubs and public transportation? Can you learn a new language, or will many locals speak yours? Plan your next steps with our round-up of 10 top places to retire abroad, based on International Living’s 2022 Annual Global Retirement Index. Shown here: Metz, France

Note: The world changes fast. Before you travel or relocate, visit Travel.State.Gov for up-to-date information on safety around the world. Find out the best places to retire in America and the best beach towns for retirement on HGTV.

Learn More: The 30 Best Places to Retire in the US

1. Panama

Tropical Panama ranks first on International Living's list of the best countries for retirees. Just three hours from Miami, it offers direct flights to many U.S. and Canadian cities. The water is safe to drink, power is reliable and the hospitals are excellent. Many ex-pats settle in Coronado to enjoy yoga, tennis and water sports or in the cool highlands of Boquete. For beach lovers, the crystal-clear waters of the Caribbean are a couple of hours from Panama City. According to International Living, ex-pats can feel safe here, and the country is outside the hurricane zone. The GDP is expected to be strong in 2022, thanks to a rise in tourism and other factors. A couple can live here comfortably for less than $3,000 a month, including rent. Shown here: The Panama City skyline from the financial district

2. Costa Rica

What’s your pleasure: cocktails on the beach, a jungle tour or exploring Costa Rica's beautiful, temperate Central Valley? Two-thirds of the country's population live there. Overall, Costa Rica's climate is warm and tropical. Many retirees say they can get healthier here thanks to the outdoor activities, locally grown foods and grass-fed beef. Thriving ex-pat communities welcome newcomers, private and public healthcare options are high-quality and low-cost, and real estate can be a bargain. A two-bedroom home and groceries, transportation, healthcare and a few extras will run about $2,000 to $2,500 a month. Costa Rica’s natural beauty, safety, stable democracy and the current, progressive leadership continue to invite retirees. Shown here: Playa Hermosa on the Pacific Coast

3. Mexico

Three times the size of Texas, Mexico has something for everyone, from the beautiful Pacific, Gulf of Mexico and Caribbean coasts to its highlands, small towns and bustling metro areas. An estimated 1 million Americans live in Mexico for at least part of the year, and ex-pats say it's easy to fit in. In many areas, $2,000 a month covers housing, food, transportation, utilities and healthcare, although popular locations are pricier. You can become a resident in just a few months, and there's no requirement for how many days you must spend in Mexico each year. Private medical, dental and other healthcare facilities are up to date and often cheaper than their US equivalents. Shown here: Our Lady of Guanajuato Church University Templo Companiea, Guanajuato

Learn More: Mexico City Travel Guide: 16+ Things to See and Do

4. Portugal

You might be welcomed with a kiss on both cheeks in warm, friendly Portugal. Ex-pats say it’s easy to adapt to life in this country of beautiful beaches, Old World cities and verdant hillsides. Since kids learn English from the sixth grade up, and foreigners can take free classes in Portuguese, the language barrier isn't formidable. Retire to Lisbon, shown here, for its nightlife, lovely climate and history; to Porto, for its international airport, port wines and cultural experiences; or to the Algarve for its beaches, cuisine and historic architecture. The cost of living in Portugal is about one-third of that in the US, although prices are higher in big cities. Public or private healthcare is available, but be aware: scheduling surgery in the public system can take months. In 2021, the Global Peace Index ranked Portugal the fourth most peaceful country in the world.

Learn More: The 10 Safest Countries in the World

5. Colombia

Colombia's infrastructure and services are more developed than those in many other Latin American countries. WHO (World Health Organization) ranked its healthcare number 22 out of 191 countries they analyzed (the United States was number 30). The country's climate is hot and humid on the coasts and in the rainforest; it's more temperate in mountainous areas like Medellin, where many ex-pats reside, and in the Coffee Triangle of Manizales, Armenia and Pereira. Retirees can live in many places on $2,000 a month since they don't need heating and cooling. Bus travel is cheap, although winding roads can make for long trips. The overall pace of life is slow, even in metropolitan areas with busy clubs, restaurants, museums and theaters. And family life is valued. Many multinational companies are settling in Colombia now, which may help overcome its reputation for drugs and crime. Today's Colombia offers a welcoming population, a comfortable cost of living and magnificent scenery. Shown here: Cartagena

6. Ecuador

Tourism to Ecuador is up 30% in the last five years, and it's not all due to the ecologically diverse, fascinating Galapagos Islands off the eastern coast. The low cost of living is very appealing, and the country uses American dollars. Thanks to the temperate climate, heating and air conditioning aren't necessities, and 30-cent tram rides and $2 to $5 taxi fares let you get around without a car. Retirees can live well, with many modern amenities, on $1,500 to $1,825 and up each month.

Ex-pats live all over Ecuador, from oceanfront condos in Salinas to small villages to Cuenca, a cultural center in the Andes that offers day trips, art classes and concerts. A two-bedroom condo in downtown Cuenca rents for about $500 a month. This mostly Catholic country is safe, family-oriented, welcoming and ethnically diverse. Healthcare is considered excellent. Shown here: Cuenca Cathedral

7. France

As you'd expect, housing prices in Paris, along the Riviera and in other fashionable areas in France are expensive. But elsewhere, retirees pay about one-third less for housing than in the United States. Even property taxes are cheaper, at one-tenth the US rate. This largest and most diverse country in Europe deserves its reputation for its beauty, rich culture, fine wines and good food. Increasingly, ex-pats are relocating to Sarlat-la-Caneda, a lovely medieval town. Others settle in sunny Montpellier, a university city known for its cultural diversity. The country's healthcare system is modern and excellent, ranked number one in the world by WHO. It's open to anyone who has lived in France for at least three months, and there are no restrictions on pre-existing conditions or age. Shown here: Lyon

8. Malta

Malta is small. This country of five islands, only three of which are inhabited, has a population of about 500,000. Some 15% are ex-pats, drawn by Malta's excellent healthcare, ranked fifth in the world, and its Western European lifestyle with a touch of sunny, southern California. The country has a long history; the Phoenicians, Romans, Arabs and Normans have influenced its culture, food and landscape. Some ex-pats settle on quiet Gozo, but most live in the cities on the east coast or in the capital city of Valletta. Churchs are everywhere and offer social activities like fairs and festivals. Beach-goers can fish, scuba dive, sail, swim or play water polo. The summer weather is usually warm and humid. Winters rarely go below 50 degrees F., but the persistent humidity makes it feel colder. Housing is pricey, with one-bedroom, metro apartments charging $900 to $1,600 a month. Gozo costs less but lacks some services and amenities. While restaurants and imported foods are expensive, street food is tasty and cheap, at $3 to $7 for a drink and sandwich. You can save money by using reliable public transportation instead of your car. Shown here: Gozo

9. Spain

Ex-pats choose Spain for its friendly people and low cost of living, where a couple can live in a Mediterranean coastal town for around $2,600 a month. Prices are higher in cities like Barcelona and the capital city of Madrid, home to world-class museums, festivals and other cultural experiences. Excellent public transportation makes cars almost unnecessary. Along the Mediterranean, retirees enjoy more than 300 sunny days each year, while the climate on the northern coast is much like Seattle's. Ex-pats can find budget-friendly food in markets, cafes and restaurants — which don't accept tips, by the way. The country’s healthcare ranks among the world’s best, and many prescription medications are cheap. Spain is considered safe, with little crime or homelessness, but watch for occasional pickpockets. The democratic government is stable, and the infrastructure is reliable, with high-speed trains, drinkable tap water and 24-hour electrical service. The country is among the most LGBTQ-welcoming in the world. Shown here: San Sebastian, Spain

10. Uruguay

Some 3.5 million people live in Uruguay, a stable country below the equator where the four seasons are the opposite of North America's. Most residents are of Italian or Spanish descent, and over half live in the capital, Montevideo. Overall, the culture is tolerant, laidback and inclusive. Uruguay boasts an excellent infrastructure, public utilities, transportation and affordable, quality medical care. Ex-pats have the same rights as citizens to own, sell or buy real estate. Punta del Este, a beautiful beach resort, is popular but not cheap. Nearby Maldonado, a middle-class town about four miles from the beaches, draws many retirees with its lower prices. A long-term rental, for example, runs about $500 a month and a similar apartment sells for around $150,000. Most retired couples can live on $3,000 a month or less, including rent, in interior cities or in La Paloma, a coastal town in Rocha. Imported goods are expensive, so ex-pats shop for electronics and other items when they're back in the US. Big cities have Spanish language schools that help newcomers fit in. One downside: Uruguay isn't close to the United States. A non-stop flight from Miami to Montevideo takes nine and a half hours. Shown here: Punta Del Este and the Atlantic Ocean at sunset

The 10 Best Places to Retire Around the World

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Where to Spend Your Golden Years

1. Panama

2. Costa Rica

3. Mexico

4. Portugal

5. Colombia

6. Ecuador

7. France

8. Malta

9. Spain

10. Uruguay

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