2025 Global Retirement Report Reveals Best Countries for Retirement

International retiree migration influenced by passive income and retirement visa programs across 44 countries

This week, Global Citizen Solutions introduced the Global Retirement Report 2025, a comprehensive benchmark study that brings clarity and direction to the evolving landscape of international retirement migration. 

The report evaluates 44 passive income and retirement visa programs across the globe, each offering unique possibilities for those ready to embark on their next chapter abroad. The U.S. did not make the list, but the report did find that many of the countries ranked in the top 10 are in the Americas and Europe.

Indeed, the analysis reveals the Americas and Europe together account for more than two-thirds of all programs, but the growing presence of attractive options in Asia and Africa signals a new era of choice and diversity for retirees worldwide. The report says the rise in accessible, well-structured pathways for passive income visa holders is democratizing global retirement, making it an attainable reality not just for the few, but for a broad and varied community of retirees.

Key findings highlight a remarkable emphasis on quality of life, with over 70% of programs delivering above-average scores in healthcare, environmental quality, and overall well-being. And 93% of countries now offer clear paths to citizenship, and nearly all permit dual citizenship, ensuring that retirees can establish new roots while preserving their original identities.

For high-net-worth individuals and those seeking to optimize their global financial strategy, the report confirms that 61% of countries offer tailored tax benefits for retirees. At the same time, 61% of all programs maintain low income requirements, and 68% offer affordable application costs, reinforcing the trend toward broader accessibility. Safety, social integration, and cultural openness are also well represented, with more than 60% of countries excelling in these areas.

What follows is a look at the top five countries in the rankings, along with a closer look at why the top spot goes to a perennial favorite for retirees.

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Top Countries for Retirement

5. Austria

In the Global Retirement Report 2025, Austria ranked 5^th overall, thanks primarily to strong scores in “Safety and Integration” (1^st) and “Quality of Life” (4^th). Austria ranked 18^th in “Tax Optimization,” 19^th in “Citizenship and Mobility,” 29^th in “Procedure” and 41^st in “Economics.”

Why it’s a great place to retire: Austria has a well-regarded public healthcare system that covers all residents, including retirees. It is consistently praised for low crime rates and public safety, making it a reassuring choice for retirees. Political and social stability adds to its appeal.

4. Uruguay

Uruguay ranked fourth overall thanks to ranking 1^st in Procedure, 3^rd in Tax Optimization and 6^th in Quality of Life. Uruguay ranked 11^th in Safety and Integration, 12^th in Citizenship and Mobility, and 33^rd in Economics.

Why it’s a great place to retire: Uruguay is widely considered one of the safest, most politically stable countries in South America. A moderate climate, clean environment, and relatively low crime rates add to retirees’ peace of mind. Real estate ownership, foreign income, and other factors often come with favorable terms for retirees compared to many countries. And of course it’s also very affordable, with many ex-pat retirees reporting living comfortably on $1,500-$2,500 per month.

3. Spain

Spain ranked third overall after scoring 1^st for Quality of Life and 2^nd for Procedure. It also had top-10 scores for Safety and Integration (5^th) and Citizenship and Mobility (6^th). Spain ranked 21^st for tax optimization and 38^th for Economics.

Why it’s a great place to retire: Spain’s warmth, lots of sunshine (especially in Mediterranean zones), mild winters, and beautiful landscapes are big draws. Rich cultural life, great food, music, art, festivals, walkable towns, and social life all those combine to make Spain attractive to retirees. Overall scores in “best places to retire” rankings often consider healthcare, climate, safety, affordability, and lifestyle—and Spain tends to do well on all these fronts. For many retirees, the trade-offs are favorable: moderate taxes/paperwork but big gains in lifestyle, well-being, and cost-for-value.

2. Mauritius

Mauritius, a volcanic island nation in the southwest Indian Ocean, ranked second thanks to finishing 2^nd in Tax Optimization, 3^rd in Procedure and 4^th in Safety and Integration. It ranked 23^rd for Citizenship and Mobility and 24^th in both Quality of Life and Economics.

Why it’s a great place to retire: Known for its diverse population and stable economy driven by tourism, financial services, and textiles, retirees can live comfortably—and for many, quite modestly—in Mauritius. Retirees aged 50+ may qualify for a “Retired Permit,” which offers long-term residence. English is an official language and most people are multilingual (including French and Creole), which makes integration easier for many retirees.

NEXT PAGE: The Best Country for Retirement

Portugal Ranked Top Country for Retirement in 2025

Portugal, which typically appears at or near the top of various “best countries for retirement” rankings (including No. 2 on International Living’s 2025 rankings), stands out with its affordability, safety, healthcare, and welcoming lifestyle. It is located on the western edge of the Iberian Peninsula, facing the Atlantic Ocean.

Portugal topped the Global Retirement Report 2025 thanks to second place finishes in both Quality of Life and Safety and Integration. It was also 4^th in Citizenship and Mobility, 15^th in both Tax Optimization and Economics, and 23^rd in Procedure.

“Portugal has firmly established itself as one of the leading destinations for retirement in recent years. This growing appeal is largely attributed to a favorable combination of relatively low living costs, a high standard of healthcare, strong public safety, and an overall high quality of life,” the report said. “Additionally, the country’s temperate climate and hospitable cultural environment further enhance its attractiveness, making Portugal an increasingly preferred option among expatriate retirees seeking both comfort and security.”

An increasingly attractive pathway for non-EU retirees considering relocation to Portugal is the D7 Visa, often referred to as the Passive Income Visa. It is specifically designed for individuals with a stable, recurring income, such as pensions, rental earnings, or dividends. It does not require active employment, and grants access to Portugal’s public healthcare system, permits visa-free travel within the Schengen Area, and enables applicants to pursue permanent residency or citizenship after five years of legal residence.

Another key factor contributing to Portugal’s appeal is its relatively low cost of living. Prices for consumer goods and services are significantly below Western European norms, roughly 15-20% lower than the EU average in 2024, according to Global Citizen Solutions.

Other notable countries in the rankings

A couple of countries that typically rate near the top in the annual International Living rankings finished a fair distance apart in the Global Retirement Report 2025.

Panama, which was ranked No. 1 in the International Living rankings, was 19^th in the 2025 GRR. Costa Rica, which ranked third (behind Portugal) in the International Living rankings, was sixth in the 2025 GRR.

Some other notable countries popular with American ex-pats included Belize (29), Dominican Republic (38) and Mexico (41). As far as the rest of the top 10, you had Italy (6), Slovenia (7), Malta (8), Latvia (9) and Chile (10).

Check out the full Global Retirement Report 2025 here.

SEE ALSO:

• 2025’s Best Places in the World to Retire
• 6 ‘Up-and-Coming’ Retirement Destinations for 2025
• ‘Best Places to Retire in 2025’ Share Common Traits