Rosalind Evans
In 2024, CEOWORLD magazine released an enlightening guide for those considering retiring abroad – the Global Expat Retirement Index. This comprehensive report provides valuable insights into the best countries around the world for expat retirees based on a range of essential factors. It evaluates countries based on local friendliness, health and well-being, quality of life, ease of settling in, recreation, culture, nightlife, and diverse culinary experiences. This report is essential for those looking to make informed decisions about their retirement destinations.
Reflecting on the historical context of retirement, Otto von Bismarck 1881 first proposed the idea of a state pension for individuals over 70. This concept has since been widely adopted globally. Fast forward to 2024, and the preferences of expat retirees are varied, with some prioritizing quality of life in countries like Germany and Finland, while others seek affordability and safety in destinations like Portugal, Spain, and the United Arab Emirates.
The Global Expat Retirement Index 2024 Survey places Taiwan at the pinnacle of retirement destinations. Expats laud Taiwan for its outstanding healthcare, safety, and ease of settling in. A resident expat commented, “Taiwan offers a sense of safety and satisfaction, with its healthcare both widely available and affordable.”
Spain, a close second, is celebrated for its vibrant culture, nightlife, and culinary diversity. The favourable climate is a significant draw, with 94% of expats expressing satisfaction. One expat notes, “Living comfortably in Spain costs around $1,800 a month, making it an affordable paradise.”
Portugal, renowned for its quality of life, is highlighted for its affordable living costs and healthcare. The survey notes, “25% of individuals move here for a better quality of life, and 18% for retirement.” Portugal offers a safe, affordable retirement option, with expenses of around $1,500 per month for an individual expat.
Mexico ranks fourth, praised for its local friendliness and affordable living costs. An expat shares, “With 90% finding the locals friendly and 70% happy financially, Mexico is a haven where one can live on as little as $800 per month.”
Greece also features on the list, with its affordable cost of living, 35% cheaper than in the U.S., and a high-quality lifestyle available for around $2,000 per month.
The Global Expat Retirement Index 2024 provides invaluable guidance for those contemplating retirement abroad. It offers a detailed look into various countries, assessing critical factors contributing to a fulfilling retirement. With countries like Taiwan, Spain, Portugal, Mexico, and Greece topping the list, retirees have many options for their golden years.
