1. Portugal
And the No. 1 Best Place to Retire in 2023 according to International Living is Portugal, vaulting all the way from the No. 4 spot on last year’s rankings.
So, why is Portugal one of the most popular retirement destinations on the planet?
Despite its compact size, the country offers something for everyone, writes IL correspondent Terry Coles. “From vibrant cities like Lisbon and Porto with buzzing nightlife, culture, history, and culinary delights to coastal havens along the Atlantic Ocean where camel-colored sand meets the turquoise water embellished with jagged rock formations, caves, and grottoes,” she says. “The people of Portugal are some of the kindest and most genuine in the world, and they welcome foreigners with open arms and double-cheeked kisses. Since English is taught in the schools many of the locals, especially the younger generation, have a good grasp of the language.”
Portugal is one of the safest countries in the world, ranked 6th by the Global Peace Index so expats never need to worry about crime. Healthcare in Portugal is both affordable and excellent, ranked 12th by the World Health Organization. Residents of Portugal have access to both the public and private healthcare systems, along with fully accredited Joint Commission International facilities with English-speaking staff.
Infrastructure is on par with the U.S. and Canada with fresh drinkable water from the tap, reliable electricity, and high-speed fiber internet making it easy to work from home or connect with the rest of the world.
Portugal’s highway system is one of the finest in Europe. And unlike some other European countries that require foreigners to take the driver’s test in the local language, in Portugal it’s a straightforward exchange of your current driver’s license for a Portugal one.
With over 500,000 foreigners from around the world living in Portugal, it’s easy to fit in and often impossible to tell the expats from the locals. Making friends is easy, especially in the more popular expat havens like Porto, the Silver Coast, Lisbon, and the Algarve.
In the north is Porto, Portugal’s second largest city. Famous for its production of port wine, and terraced vineyards along the Douro River, with a colorful riverfront area, it sees many tourists so English speakers can be found.
For those who desire big city living without a car Lisbon may be for you. Packed with museums, concerts, restaurants, shopping, cobbled lanes, and historic elegance, the mix of expats and tourists make English speakers abundant. Portugal’s primary international airport is here, a great way to connect with the rest of Europe or most anywhere else in the world.
How much do you need to retire to Portugal? As a general rule, a couple can live comfortably on about $2,500 to $3,000 per month, depending on lifestyle and whether you own or rent. To settle in Lisbon, Porto or the Algarve expect to pay a bit more while inland areas cost less.
Again, check out International Living’s complete 2023 Annual Global Retirement Index for a more detailed look at what led these 11 countries to make the list.
SEE ALSO:
• 2022 World’s Best Place to Retire Is…
• This Central America Country Reigns #1 Again as Best Place to Retire
• 4 Very Different ‘No. 1 Places to Retire’
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
