The Best Countries for Retirees Abroad: Where Can You Live Affordably and Comfortably After Retirement?

Two international rankings have identified the best countries to move to for retirement—from the Philippines and Thailand to Greece and Portugal. Find out what criteria retirees use when choosing a country and why these rankings aren’t always a good fit for residents of Eastern Europe

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Retirement — for many, it’s the moment when they can finally move to a place that’s warm, affordable, and peaceful. However, choosing a country for such a move requires careful consideration: the quality of healthcare, the cost of living, residency requirements, the climate, and the language barrier — all of these factors matter. An analysis of the two most authoritative rankings for retired expats was published by the Hungarian publication Pénzcentrum.

One of the best-known rankings in this field—the Global Retirement Index by Natixis — focuses primarily on assessing conditions for local retirees, rather than for those planning to move from abroad. Therefore, the authors of the article paid special attention to two other indices developed specifically for retirees moving abroad.

Read also: Will Ukrainian retirees be able to stay in Europe after temporary protection ends in 2027?

Retirement Abroad Index Ranking

The first ranking — the Retirement Abroad Index by Expatriate Healthcare — evaluates countries based on criteria important to older adults who are relocating: access to healthcare, visa requirements, cost of living, and ease of adaptation.

1. The Philippines — 78 points out of 100. The leader of the ranking attracts residents with its straightforward process for obtaining residence permits, low cost of living, and widespread use of English — which significantly eases the adjustment process for foreign retirees.

2. Thailand — 77 points. The country stands out for its high-quality private healthcare and well-developed tourism and medical infrastructure. To obtain a retirement visa, you must prove your income level and have health insurance — a standard requirement to keep in mind when planning your move. By the way, if you’re already planning a trip abroad, you can purchase health insurance online through Visit Ukraine.

3. Colombia. This Latin American country is among the most popular destinations for foreign retirees in the region thanks to its climate, cost of living, and well-developed infrastructure for expats.

4. Portugal holds the highest position among European countries in this ranking. Key advantages include safety, a high-quality healthcare system, and a high level of English proficiency among locals.

5. Sri Lanka and South Africa share fifth place in the ranking.

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International Living Ranking

The second ranking — International Living — is based not only on statistics but also on the correspondents’ many years of experience and real-life feedback from expats. This methodology paints a slightly different picture.

1. Greece. The authors attribute the top spot to a combination of a mild climate, plenty of sunny days, and a relaxed lifestyle known as “siga-siga” — literally, “take your time.” For retirees tired of the fast pace of city life, this is of fundamental importance.

2. Panama. The country remains consistently popular among retired expats thanks to the special Pensionado program, which offers numerous benefits: discounts on transportation, healthcare, entertainment, and hotels.

3. Costa Rica. It attracts lovers of nature and a peaceful lifestyle. An added bonus is its well-developed healthcare system, which is also accessible to foreigners.

International Living’s top 10 also includes: Portugal, Mexico, Italy, France, Spain, Thailand, and Malaysia. The evaluation took into account housing, cost of living, climate, quality of healthcare, visa programs, the country’s level of development, and overall attractiveness for relocation.

Why aren’t these rankings always suitable for Ukrainians and residents of Eastern Europe?

The authors at Pénzcentrum make an important caveat: both international rankings were compiled primarily for residents of the world’s wealthiest countries — the U.S., the U.K., Australia, and Western European nations. Therefore, their conclusions are not always relevant for retirees from Central and Eastern Europe.

The fact is that the cost of living in many of the “ranked” countries may actually turn out to be higher than at home — especially when compared to actual living expenses in Eastern European countries. What seems “affordable” to an American retiree may prove unaffordable for a retiree from Ukraine or Hungary.

That is why, the publication concludes, when choosing a country to retire in abroad, you should focus not only on international rankings and beautiful scenery, but also on your own financial capabilities and the actual cost of living in a specific country.

We remind you! Many Ukrainians have worked abroad for years, but when planning their well-deserved retirement, they face questions about how their benefits will be calculated. Will your foreign work experience be taken into account, and how exactly do the Pension Fund of Ukraine’s international agreements work? Read about how your future pension will be calculated.

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