Where Is the Best Place to Retire: Global Citizen Solutions Report

Global Citizen Solutions has published a study dedicated to retirement living. The report covers 44 countries, comparing visa procedures, taxes, cost of living, as well as healthcare quality, safety, and opportunities for integration. The ranking includes 20 indicators, with Portugal, Mauritius, and Spain leading the list.

The authors emphasize that retirement migration has become a stable global trend. More and more countries are introducing special visas for individuals with passive income, offering tax incentives, and creating conditions for long-term residence. Over 70% of the countries analyzed show high levels of healthcare and quality of life, while 93% of the programs provide the opportunity to obtain citizenship and allow dual nationality.

Key Factors: From Finances to Integration

Financial requirements for retirees vary depending on the country. In some cases, relatively modest income is sufficient, while in others the threshold is much higher. In North Macedonia, the minimum monthly income for program eligibility is around €500, in Nicaragua $600, while in Malaysia it exceeds €8,000. Application costs also vary widely: from symbolic fees of a few hundred euros to several thousand in a number of European and Asian countries.

Tax conditions often become a decisive factor. In many Latin American and Asian countries, the territorial principle applies: income earned outside the jurisdiction is not taxed. In Europe, special regimes for new residents are noticeable, such as fixed rates on foreign income or exemptions from tax on pensions received from abroad.

Healthcare quality was one of the main factors in compiling the ranking. High scores were recorded in Western and Southern Europe — Spain, France, Portugal, Austria. In Latin America and Asia, the situation is more uneven: modern treatment is available in major cities, but in remote areas the level of medical services is significantly lower.

Safety and political stability also directly affect the attractiveness of retirement destinations. The highest ratings went to European countries with low crime rates, developed law enforcement, and high trust in institutions. Among Latin American and Asian states, Uruguay and Costa Rica stand out, combining stable democratic institutions with relatively low crime rates.

Integration into the local community and attitudes toward foreigners were assessed separately. Leading the way are countries where English is widely spoken and where there are already established expat communities. These include Portugal, Spain, Malta, as well as Costa Rica and Thailand. In some Asian and African states, barriers are higher: limited English proficiency and cultural differences can complicate adaptation.

Ranking Leaders

Portugal topped the ranking, combining a mild climate and high safety with affordable healthcare, recognized as among the best in Europe. The program for passive income holders has relatively low financial requirements, and after five years one can apply for citizenship. An additional advantage is the possibility of relocating the entire family.

In second place is Mauritius, a small island state in the Indian Ocean. It is known for its stable political system, low crime rate, and multicultural environment. English is widely used in the country. Income earned abroad is generally not taxed, while living costs remain lower than in most European countries.

Spain ranked third, traditionally attracting retirees with its healthcare system, developed infrastructure, and mild climate. Long-term visas are available for foreigners with documented income, and after meeting the conditions, citizenship may be obtained in a few years. A significant advantage is the large expat community that eases integration. The main challenges are the high cost of housing in coastal regions and a notable tax burden.

Uruguay stands out in Latin America with its stable democracy, low corruption, and social guarantees. The cost of living is lower than in most European countries, while the healthcare system is recognized as one of the best in the region. Uruguay offers access to permanent residence in a short time and is considered safe compared to its neighbors.

Rounding out the top five is Austria, noted for its advanced infrastructure and excellent healthcare. The country is considered safe. However, a retirement visa requires significant financial guarantees, and the cost of living is high. Still, Austria compensates with quality healthcare and social services, as well as political stability.

How Retirees Are Changing Economies and Lifestyles

The study highlights that retirees are becoming an important economic factor for host countries. Annual spending on housing, healthcare, and services creates a steady flow of investment into local economies. In Spain, up to one-fifth of real estate transactions in coastal regions involve foreign retirees, while in Portugal in 2023 their housing investments exceeded €1 billion. In Latin America and Asia, retiree migrants support the construction sector and services, providing currency inflows and jobs. Rising housing prices in popular destinations are linked not only to foreign demand but also to domestic factors — limited construction and the growth of short-term rentals.

Special attention is given to the growing FIRE (Financial Independence, Retire Early) movement in developed countries. More people strive to retire in their 40s and 50s, combining savings, investments, and passive income. For this group, countries with low costs of living and mild climates are especially attractive, as their resources ensure a higher level of comfort. Portugal, Mexico, Thailand, and Costa Rica are among the most popular destinations. The authors note that “geo-arbitrage” — shifting expenses to more affordable jurisdictions — has become a key tool for early retirees, boosting global mobility.

Thus, retirement migration is no longer a niche phenomenon but a factor in global economic and social processes. For countries, it is a way to attract sustainable investment; for retirees, an opportunity to combine safety and comfort with cost optimization and a new lifestyle.