Europe, Asia and South America offer plenty of opportunity (and romance) for adventurous retiree expats, and International Living is out with a few suggestions on where, specifically, to settle in each.
“There are a lot of ways to approach retirement choices abroad,” Dan Prescher, a senior editor for International Living, said in a statement. “One of the ways I find most interesting is by region. Europe, the Americas, and Southeast Asia are the top three regions of the world being researched and chosen as retirement destinations by North American expats. Each has distinct attributes and, depending on a person’s individual preferences and priorities, might appeal more or less.”
The regional winners identified by International Living’s 2020 Global Retirement Index are:
Europe—Portugal
Portugal takes the top spot overall. It topped the categories of Healthcare, Climate, and Housing while scoring well in the Fitting In/Entertainment and Development categories.
“Long under the radar for North American expats, the country offers old-world romance at an affordable price. When you imagine old Europe—those cobblestone alleys, medieval town walls, crenelated castles on hilltops, all soundtracked by the toll of church bells…Portugal delivers. Not in a touristy, contrived way, but as the standard day-to-day life of the country. It exudes history, beauty, and slow-paced living that is—by any standard other than financial—rich.”
Although you needn’t be rich to enjoy it. Expats report that their expenses here run to about one-third of what they were on the States. And when it comes to Healthcare, Portugal has some of the finest doctors and medical training available anywhere.
SE Asia—Malaysia
“Conjuring up all the mysteries of Asia, Malaysia is a former British colony that remains as colorful as ever,” IL noted. “Beyond the lofty skyscrapers of the capital, Kuala Lumpur, its dramatic canvas is embroidered with tropical beaches, mountains, dense rainforest, and vividly green tea plantations.”
The healthcare is so good—and affordable—it added, and attracts over a million medical tourists a year. It’s no wonder almost 200,000 expats now call this modern, warm-weather nation home.
Penang Island, a small, tropical spot off the west coast of peninsular Malaysia, is a remarkable place. It has it all—arts and culture, history and nature, beach and jungle.
Latin America—Panama
Panama has been a consistent top finisher in International Living’s annual Global Retirement Index every year. For a small country, “it packs a real punch. But what makes it really special from the expat retiree’s point of view is its Pensionado program.”
“Panama’s Pensionado program deserves the praise it gets,” Jessica Ramesch, IL Panama Editor, explained. “It offers foreign pensioners an easy ‘in’ to becoming legal residents of Panama. Year after year, Panama ranks highly in the index’s Benefits and Discount and Visas and Residence categories.”
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
