11 Best Places to Retire in the World in 2023: International Living
We have a new No. 1 and No. 2 in this year’s rankings of the best, most affordable places for Americans to retire abroad
As every new year dawns, International Living releases its updated rankings of the best countries for Americans considering retiring abroad to provide the latest information to help them make such an important decision.
For more than three decades, International Living’s scouts have scoured every corner of the globe many times over. The result is a much bigger and ever-growing selection of outstanding destinations where retirees can live a healthy and happy life, spend a lot less money, and get a whole lot more.
The 2023 Annual Global Retirement Index is the most comprehensive and in-depth survey of its kind, helping aspiring expats sift through the wealth of opportunity the world offers, bring some order, and help pinpoint the best destination for their particular wants and needs.
What we like International Living’s retirement index is that the sources are living in the places where they’re gathering their intelligence, and they’re not beholden to relocation service providers, real estate agents, tourism boards or economic development organizations.
What has their research revealed about the 10 best retirement havens in 2023? Read on for a brief summary of the top countries, and for a more detailed look, be sure to check out International Living’s complete 2023 Annual Global Retirement Index…
10. Colombia
Imagine a place where you step off the airplane and simply choose the climate which best suits you and the city size where you feel the most comfortable. Add a few lifestyle activities and your retirement abroad has now been perfectly customized to suit your interests.
IL correspondent Erin Donaldson says Colombia is that kind of place.
A country characterized by microclimates and lower costs of living, current residents are seeing a massive uptick in expat arrivals as more people consider living overseas. Americans especially are seeing once-in-a-lifetime opportunities thanks to a robust dollar exchange rate.
With one of the top 25 healthcare systems in the world, residents can enjoy low-cost subsidized health insurance for as low as $35 per person each month. It is not unusual to see co-pays that are less than $10 for doctor visits and generic medications.
Most major cities like Bogota, Medellin, and Pereira have their own medical systems with specializations. In recent years, alt-medicine clinics for preventive care have also opened their doors offering treatments that cost two or three times less than in the U.S.
Under new visa standards, foreign residents can get visas for their basic social security retirement incomes, rent received for pensions or rental homes, and now a digital nomad visa which incentivizes people who work from home to enjoy a cheaper life in a more pleasant climate.
The good news about visas is that they are now easier than ever to get and thanks to a favorable exchange rate—even cheaper. Under the current situation, people who get a social security benefit of at least $700 per month can qualify for the pension visa.
While the cost of living has risen considerably in recent years, foreign residents can still live quite comfortably in upper-class areas starting at $1,000 per month for small cities like Manizales and Pereira, and $2,000 per month for larger cities like Bogota and Medellin.
NEXT PAGE: Tie for No. 9