The stunning Central American country named the world's best place to retire
On average we spend around one third of our lives at work, so when it's time to sit back and enjoy those golden years, you want to make sure you're doing it in the right place.
Handily, International Living 's Global Retirement Index, a tool which utilises first-hand experiences and 'real-world insights' from actual retirees, has published a list of the best places in the world to retire.
Topping the list is Panama, which contributor Jess Ramesch describes as a 'safe, stable and wealthy country'. Factors such as the low cost of living (for expenses like car insurance and minor medical procedures), flexible visa conditions and its temperate climate were all cited.
'Here, I live a California lifestyle – only better. I'm on the ocean, just a three-hour flight from Miami, and I don't have to worry about hurricanes (or pay expensive hurricane insurance),' Ramesch writes. 'I'm out in the sunshine almost every day. I don't worry about hefty property taxes or having my savings wiped out by a trip to the ER. And I've made wonderful friends – expats and Panamanians – who've become like family.'
In second place is Portugal, and in third place is Costa Rica, with Mexico and France rounding out the top five.
These are the 10 best places to retire in the world
Panama
Portugal
Costa Rica
Mexico
France
Spain
Malaysia
Greece
Italy
Thailand
You can read the full article in more detail here, or have a look at our own list of the world's best places to retire.
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The stunning Central American country named the world's best place to retire
On average we spend around one third of our lives at work, so when it's time to sit back and enjoy those golden years, you want to make sure you're doing it in the right place. Handily, International Living 's Global Retirement Index, a tool which utilises first-hand experiences and 'real-world insights' from actual retirees, has published a list of the best places in the world to retire. Topping the list is Panama, which contributor Jess Ramesch describes as a 'safe, stable and wealthy country'. Factors such as the low cost of living (for expenses like car insurance and minor medical procedures), flexible visa conditions and its temperate climate were all cited. 'Here, I live a California lifestyle – only better. I'm on the ocean, just a three-hour flight from Miami, and I don't have to worry about hurricanes (or pay expensive hurricane insurance),' Ramesch writes. 'I'm out in the sunshine almost every day. I don't worry about hefty property taxes or having my savings wiped out by a trip to the ER. And I've made wonderful friends – expats and Panamanians – who've become like family.' In second place is Portugal, and in third place is Costa Rica, with Mexico and France rounding out the top five. These are the 10 best places to retire in the world Panama Portugal Costa Rica Mexico France Spain Malaysia Greece Italy Thailand You can read the full article in more detail here, or have a look at our own list of the world's best places to retire.
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An unexpected destination has taken the crown as the world's best place to retire. According to a new report on retirement by International Living, a Central American country is officially the globe's best place to spend your golden years in. The International Living Annual Global Retirement Index looks for countries where retirees can 'live a healthier and happier life, spend a lot less money and get a whole lot more'. And this year's winner? Panama. The Central American country is known for its beaches while the capital city, Panama City, is a hub for casinos and nightclubs. Jess Ramesch, a U.S expat who lives in Panama, says her friends' 'jaws drop' when they see what the Central American country is really like. She tells International Living: 'As we leave the airport, that incredible city skyline comes into view, mirage-like over the shimmering waters of the warm, tropical Pacific. '[My friends] boarded a plane to a little Central American republic, but suddenly they're wondering: "Did we somehow land in Manhattan?" When their jaws drop, I have to laugh.' Jess Ramesch, a U.S expat who lives in Panama, says her friends' 'jaws drop' when they see what the Central American country is really like The expat claims that Panama is a 'safe, stable and wealthy country' where a person can live a 'comfortable lifestyle' on $2,400/£1,780 a month. And expats who are willing to spend $2,900/£2,152 a month can 'live a life that feels positively luxurious'. Jess adds that Panama 'doesn't charge tax on foreign-earned income' and property tax is just 0.5 per cent for primary residences. Retirees can qualify for a pensioner visa in 'as little as six months' if they have a pension of at least $1,000/£742, claims Jess. Pensioners can also pick up some enticing discounts in Panama, including 25 per cent off their power bill, 50 per cent off cinema tickets and 25 per cent off restaurant meals. When it comes to lifestyle, Jess reveals that Panama's warm temperatures mean that residents can play golf, tennis and pickleball 'all year long'. The expat explains that she lives in Coronado, a coastal city and resort, just 54 miles/87km southwest of Panama City. She says: 'I chose Coronado for the gorgeous breezy weather and the ocean views. I bought my apartment (1,130 sq ft) - my happy place - in 2022 for $155,000/£115,029. Expats who are willing to spend $2,900/£2,152 a month can 'live a life that feels positively luxurious' 'My building is in a coveted location on a golf course and beautifully maintained. We have a large social area and pool on the ground level, as well as three rooftop levels with more common areas, another pool, a gym, a game room, and a sauna.' Jess adds that Coronado is 'welcoming' to expats with 'overwhelmingly kind' locals who are happy to help non-English speakers. To claim its place at the top of the podium, Panama beat out tough competition from other expat hotspots including Spain, Portugal, Italy and Thailand. Jess concludes: 'Fitting in and staying busy is almost ridiculously easy. That's the nature of a well-established expat destination - where you can live an active, social, comfortable life without reinventing the wheel. 'Simply put, that's Panama. And no other country offers so much.'
