‘Best’ country to retire in has an ‘exceedingly attractive’ cost of living compared to UK
Pensioners may opt to retire overseas for a whole host of reasons
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From the cost of living to the lifestyle and weather in sunnier climes, there’s a wealth of reasons why some people want to retire overseas.
There are lots of considerations to make, including checking to see whether one’s state pension would be affected when moving abroad, but new analysis has shone a spotlight on some of the best countries to retire in in 2024.
Mobility experts at Oak Tree Mobility researched the top 15 countries to retire in, finding Croatia takes the top spot this year.
They found the top benefits included the exchange rate, and said the cost of living, inclusive of rent, is “exceedingly attractive” when compared to remaining in the UK.
The analysis, which considers factors such as the cost of living, safety, healthcare and exchange rate, found the Republic of Ireland and Italy also scored highly.
Named the second best country to retire in for UK citizens, the Republic of Ireland ranks highly in terms of happiness while also being one of the safest countries in the world to settle in, according to the World Safety Index.
It also has cheap flight costs and a relatively short travelling time from the UK.
Ranking as the third best country to retire in this year, Italy is a “highly attractive” retirement destination for UK pensioners.
Healthcare in Italy is recognised for its quality, the analysis found and said that with 22.08 per cent of the population aged 65+, this country could offer a community where retirees can find peers.
Best countries to retire in 2024
The following 15 countries ranked as the best countries to retire in the world, according to the analysis’ scoring system.
- Croatia – 62 per cent
- Republic of Ireland – 59 per cent
- Italy – 58 per cent
- Spain – 57 per cent
- France – 57 per cent
- Greece – 54 per cent
- Cyprus – 52 per cent
- Australia – 51 per cent
- UAE (Dubai) – 51 per cent
- Canada – 51 per cent
- New Zealand – 50 per cent
- Thailand – 47 per cent
- Philippines – 43 per cent
- South Africa – 40 per cent
- USA – 40 per cent
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Croatia has been named the best place to retire in the world this year, according to new analysis
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Verity Kick, Marketing Manager at Oak Tree Mobility said they have seen a surge in interest for people to move away from the UK for retirement, which “speaks volumes”.
She said: “It tells us that retirees are more informed and adventurous than ever, looking beyond traditional retirement locales to find places where they can lead active, engaging, and enjoyable lives.”
The research also narrowed down the best country to retire in based on specific factors.
Cost of living
Better exchange rates: Philippines
Cheaper cost of living: Philippines, Thailand and South Africa
Healthcare costs and quality: Spain
Living environment
Green spaces: France, Croatia and Australia
Better weather: Spain, Italy, Greece
Population
Highest population of people aged 65+: Greece
Distance and cost of travel from UK: Ireland
Lifestyle
Safety levels: New Zealand
Happiness ratings: New Zealand
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