In a world where borders are blurring and retirement abroad is becoming an increasingly popular option, choosing a destination can prove a rather difficult task. In 2023, according to the annual International Living's Global Retirement IndexA number of countries stand out as the best choices for a comfortable and fulfilling retirement. We've compiled these choices into a comprehensive guide, with Portugal at the top of the list, to help you plan your next big trip in life. (Also read: d7 Portugal visa for retirees and people with passive income)
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Portugal: The retirement destination of choice in 2023
Relocating to a different country for retirement is an idea that is attracting more and more people. It's a great opportunity to discover a new culture, a new pace of life, and to enjoy an often superior quality of life at a lower cost. To help you make the right choice, International Living's annual Global Retirement Index has determined which country will be the best choice in 2023.
This annual index is a tool for anyone considering spending their retirement abroad. It offers a detailed analysis of different countries, based on a variety of factors: quality and cost of accommodation, ease of obtaining visas and benefits for retirees, cost of living, testimonials from those who have already visited the country, level of development and governance, climate and health system.
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And this year, the country that stood out and won the title of best place to retire is Portugal. This small European country offers a range of experiences and attractions to suit every taste.
Whether you're looking for cosmopolitan cities like Lisbon and Porto, with their rich culture and history, renowned gastronomy and nightlife, or a more tranquil seaside setting, Portugal has it all.
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Safety and tranquility are also important aspects, and in this respect, Portugal ranks near the top, occupying 6ᵉ place in the Global Peace Index. In terms of healthcare, care is both accessible and of good quality, with the Portuguese health system ranked 12ᵉ by the World Health Organization.
Portugal also offers a modern and reliable infrastructure, with access to drinking water, constant electricity and high-speed internet connection. What's more, with a foreign community of over 500,000, integrating and making new friends is relatively easy.
What about the cost of living? A couple can live comfortably in Portugal on a budget of 2,000 to 3,000 euros a month, depending on lifestyle and region.
A final note: each individual has his or her own expectations and aspirations when it comes to retirement. Ideally, you should spend a few months in the country you are considering before making a final decision.
Comparison of the Best Countries to Retire Abroad in 2023
In the table below, we've compiled the index data for 2023, highlighting the best countries for retirement based on key criteria: visas/benefits, cost of living, climate and health. This allows you to see at a glance which countries have achieved the highest scores in each category and as an overall average, offering valuable insight to guide your choice.
| Country | Average score | Housing | Visas/Benefits | Cost of living | Affinity | Development/Governance | Climate | Health Care |
|---|---|---|---|---|---|---|---|---|
| Portugal | 87.43 | 74 | 90 | 85 | 89 | 94 | 88 | 92 |
| Mexico | 84.14 | 70 | 92 | 92 | 87 | 80 | 86 | 82 |
| Panama | 84 | 77 | 98 | 78 | 85 | 86 | 80 | 84 |
| Ecuador | 83.57 | 80 | 91 | 88 | 82 | 76 | 87 | 81 |
| Costa Rica | 79.28 | 60 | 94 | 68 | 84 | 78 | 80 | 91 |
| Spain | 78.14 | 56 | 76 | 79 | 84 | 92 | 72 | 88 |
| Greece | 76.86 | 70 | 76 | 84 | 80 | 78 | 68 | 82 |
| France | 75.43 | 64 | 70 | 56 | 84 | 88 | 82 | 84 |
| Italy | 73.57 | 62 | 64 | 88 | 75 | 76 | 70 | 80 |
| Thailand | 73.57 | 62 | 58 | 96 | 77 | 88 | 58 | 76 |
| Colombia | 73.43 | 59 | 66 | 97 | 68 | 54 | 87 | 83 |
| Uruguay | 70.86 | 72 | 68 | 70 | 70 | 78 | 58 | 80 |
| Malta | 70.14 | 56 | 56 | 75 | 82 | 84 | 63 | 75 |
| Ireland | 70 | 58 | 70 | 56 | 78 | 90 | 58 | 80 |
| Roatán | 63.42 | 56 | 80 | 73 | 70 | 58 | 58 | 49 |
| Belize | 59.86 | 56 | 66 | 77 | 61 | 56 | 58 | 45 |
1. Portugal - Average score : 87.43
As you can see, Portugal tops the list for 2023. It's a country that admirably combines a pleasant climate (88), a reasonable cost of living (85), and excellent healthcare (92). What's more, its system of visas and benefits (90) proves highly attractive to retirees looking to settle abroad. All in all, Portugal offers an exceptional quality of life, rewarded by a development and governance score of 94.
2. Mexico - Average score: 84.14
Mexico takes second place, thanks in particular to its affordable cost of living (92) and advantageous visa and benefits policy (92). With an affinity score of 87, it's clear that retirees feel at home in Mexico. Access to quality healthcare (82) also contributes to the country's attractiveness to retirees.
3. Panama - Average score: 84
Panama, with its average score of 84, offers an interesting alternative for retirement. Its visa and benefits policy is the most advantageous on our list (98), making it much easier for retirees to settle in. Panama also boasts a good healthcare system (84) and a reasonable cost of living (78).
4. Ecuador - Average score : 83.57
Ecuador stands out for its affordable cost of living (88) and visa advantages (91). Its pleasant climate (87) and high-quality healthcare system (81) place it fourth on our list of countries to retire to in 2023.
5. Costa Rica - Average score : 79.28
Costa Rica is a popular retirement destination, notably for its visa policy and benefits (94) and its high-quality healthcare system (91). However, its cost of living is slightly higher (68), which can be a drawback for some.
6. Spain - Average score: 78.14
Despite a lower average score for housing (56) and cost of living (79), Spain stands out for its excellent healthcare system (88) and overall quality of life, reflected by a score of 92 in development and governance.
7. Greece - Average score: 76.86
Greece offers a reasonable cost of living (84) and a good quality of life thanks to its healthcare system (82) and pleasant climate (68). Visa benefits are also fairly competitive (76).
8. France - Average score: 75.43
France stands out for its high-quality healthcare system (84), pleasant climate (82), and good development and governance score (88). However, the cost of living in France is higher (56), which can be a challenge for some retirees.
9. Italy - Average score: 73.57
Italy is famous for its quality of life and pleasant climate (70). The cost of living is relatively affordable (88), making it a prime retirement destination.
9. Thailand - Average score: 73.57
Thailand offers the lowest cost of living on our list (96). Its climate (58) and healthcare system (76) can, however, present challenges for some retirees.
11. Colombia - Average score: 73.43
Colombia stands out for its extremely affordable cost of living (97), making it an attractive option for retirement. Its pleasant climate (87) and high-quality healthcare system (83) are also undeniable assets.
12. Uruguay - Average score: 70.86
Uruguay offers a good quality of life with a moderate climate (58) and a respectable healthcare system (80). Its cost of living is balanced (70), which may make it an attractive option for some.
13. Malta - Average score: 70.14
Malta, with its pleasant climate (63) and good healthcare system (75), is an attractive destination for retirees. However, its visa and benefits policy (56) is less competitive than that of other countries.
14. Ireland - Average score: 70
Ireland stands out for its excellent development and governance score (90) and its high-quality healthcare system (80). Its climate (58) and cost of living (56), however, are less attractive.
15. Roatán (Caribbean island north of Honduras) - Average score : 63.42
Roatán, with its relatively affordable cost of living (73) and attractive visa and benefits policy (80), may be an exotic retirement option. However, the health care system (49) may require additional health insurance.
16. Belize - Average score : 59.86
Despite a lower overall score, Belize offers an affordable cost of living (77) and a reasonable visa and benefits policy (66). Nevertheless, the healthcare system (45) may require further consideration.
Tips for choosing a retirement destination abroad
Having surveyed the 16 most attractive countries to retire to in 2023, it's essential to highlight a few tips for a successful transition. Each country presents a unique mix of cost of living, hospitality, climate and healthcare, and it's important to weigh all these factors against your own needs.
As you can see, each country offers its own unique blend of cost of living, hospitality, climate and healthcare. So it's important to weigh all these factors against your own needs.
Identify your needs and desires
First of all, we need to learn to identify our personal needs and desires. Each of us has different preferences for the ideal retirement environment. Whether it's the climate, the landscape, the proximity to urban amenities, it all needs to be factored into your decision.
Test before you choose
A wise recommendation would be to try living in the country of your choice for a few months before making a final decision. This immersion can give you a better idea of what daily life is like there, and whether it matches your expectations.
A personal decision
That's all well and good, but it's crucial to understand that the decision to retire abroad is a very personal one. What suits one person may not suit another. Remember that these rankings are based on averages and that each person's experience will be different.
Take your time
Finally, it's important not to rush into anything. Take the time to carefully evaluate all your options and think about what's best for you in the long term. After all, retirement is a new stage of life that opens up a multitude of possibilities. So take the time to plan carefully.
One Response
Haha, Thailand ranked behind France. Having been hospitalized in Thailand and France, you can quickly see the difference. "France stands out for its quality healthcare system" you speak in 1980. Today, all you have to do is go to the emergency room or get an appointment for a consultation...