NEW YORK--(BUSINESS WIRE)--Live and Invest Overseas, the leading resource for people who want to live, retire, and invest overseas, announced today its annual index of the 10 best places in the world to retire in 2023. This year, a bonus list of five jet set, luxury destinations will also be featured. The full index will be available to purchase in January 2023 at www.liveandinvestoverseas.com.
“With talks of recession and uncertainties in the market right now, this year’s retirement index is one of the most critical ones yet,” said Kathleen Peddicord, Founding Publisher of Live and Invest Overseas. “Our hope is that individuals who are looking to retire soon or make an investment to further their financial security, use this list as a steppingstone to start their next phase in life.”
The index concentrates on 10 locales across 10 countries and provides specific information for retirees to make more informed decisions. Destinations are ranked based on 13 categories: cost of living, health care, entertainment, recreation, whether the English language is spoken, expat community, infrastructure (Internet, electricity, domestic access), access to North America, environmental factors, crime, real estate restrictions, residency, and taxes. Here is the list in order of ranking:
#1: Chitré, Panama
Final Grade: A
Chitré is a small town with the comforts of a city—perfect for a comfortable, well-appointed lifestyle. It’s largely undiscovered, with limited tourism and a small expat community, and for now is one of the most affordable places to live in Panama, including low-cost beachfront property.
Panama offers a top-tier retirement visa, uses the U.S. dollar, it taxes jurisdictionally, is well-connected to the States, and it’s stalwart and stable—the place to be during a recession or global crisis.
#2: Tavira, Portugal
Final Grade: A
Tavira is a charming traditional town in the Algarve, known as the region’s most authentic and beautiful, where the cost of living is still low. Getting residency in Portugal is easy and low cost in the context of Europe; it offers retiree-benefits (like its Non-Habitual Resident scheme, under which pensions are taxed at a flat rate of 10%). Americans have a currency advantage in Europe right now thanks to the U.S. dollar’s strength against the euro.
#3: Medellín, Colombia
Final Grade: A-
Medellin is one of the world’s most livable cities because of its near-perfect climate (perfect weather also means low- to non-existent utility bills), efficient and well-loved public services, friendly locals, ample green space, low cost of living, and varied cosmopolitan offerings. The U.S. dollar is also strong against the Colombian peso, so everything Medellín offers (already affordable) comes at an even greater discount.
#4: Kyrenia, Northern Cyprus
Final Grade: A-
Kyrenia is the tourism capital of North Cyprus, offering spas, casinos, and beach resorts for all demographics. It’s one of the most charming destinations in the region with its old harbor and seafront castle. Beachfront property is extremely affordable (can be found for US$50k) and a property purchase leads to residency.
#5: Corozal, Belize
Final Grade: B+
Corozal is in an up-and-coming part of Belize; it offers a rare combination of oceanfront living (on the Caribbean, no less) with a low cost of living. It has amenities like supermarkets, hardware stores, bars, restaurants, etc. but infrastructure is still in development; luckily, it’s less than 10 miles from Chetumal (across the border with Mexico) so residents can avail of a much-bigger city, with big box stores, American brands, high-quality health care and dental, etc. Belize is English-speaking, geographically close to the United States, it taxes jurisdictionally, and has easy residency options for retirees.
#6: Costa de la Luz, Spain
Final Grade: B+
This region is little-known and remains culturally authentic and affordable, with long expanses of golden sand beach and a scattering of small towns and villages that support pockets of expats. It’s an under-the-radar golf destination and is one of the sunniest areas of mainland Europe, with over 3,300 hours of sunshine per year
Again, Americans have a currency advantage in Europe right now.
#7: Oaxaca, Mexico
Final Grade: B+
Oaxaca offers charming colonial architecture, vibrant culture, a moderate climate, reasonable prices, flight connections to the States and high-quality health care. It’s famous for its cuisine, colorful colonial buildings in its Centro (along with colorful clothing and wares from the various indigenous groups that call the area home) and surrounded by mountains.
Mexico is the most familiar overseas destination for Americans, home to more American expats than any other country. It’s geographically close and has familiar stores, brands, conveniences, etc.; also, it’s easy to set up life in Mexico from a residency perspective.
#8: Paris, France
Final Grade: B+
Paris offers the world’s best quality of life, with hundreds of museums and galleries, one of the liveliest café cultures and some of the most revered cuisine in the world, space to lounge in parks and on riversides... plus a superb and affordable public transportation system and other modern amenities, including top-notch health care. Paris is an expensive city but comes at a discount right now for Americans: The U.S. dollar to euro currency advantage applies here, too.
#9: Sanur, Bali, Indonesia
Final Grade: B
Sanur is an unpretentious suburb of Bali’s capital, Denpasar. Quiet and laid-back, Sanur is far removed from the crowds of tourists who flock to Bali for vacations and honeymoons. Sanur can be a top choice for indulging in a five-star, luxury lifestyle on a three-star budget. It’s close to Bali’s best amenities (including hospitals) and home to a big expat community. Indonesia offers a retirement visa—uncommon in Southeast Asia.
#10: Da Lut, Vietnam
Final Grade: B-
Da Lat is an ex-French colonial hill station, developed to look like an Alpine chalet town; the architecture and atmosphere remains very French, so it’s a novelty in the context of Southeast Asia. It sits at an elevation of almost 5,000 feet above sea level in the foothills of the Central Highlands, so the climate is cool and stable year-round; it’s surrounded by pine forest and freshwater (accentuating the French/Alpine town feel).
Vietnam is one of the world’s most affordable places to live.
Jet Set Destinations
Here is the list (No. 1 is Bay of Kotor, Montenegro. Additional winners’ ranking tbd):
#1: Bay of Kotor, Montenegro
- Mendoza, Argentina
- Turks and Caicos
- Deauville, France
- Phuket, Thailand
About Live and Invest Overseas
Based in Paris, France and Panama City, Panama, LIOS is the leading resource for people who want to live, retire, and invest overseas. Headed by Kathleen Peddicord and Lief Simon—who collectively have more than 40 years of experience visiting, living, and investing in foreign countries—LIOS and its complimentary e-letter service, the Overseas Opportunity Letter, have more than 500,000 regular readers. More info available at www.liveandinvestoverseas.com.
