According to Live and Invest Overseas, of the 10 best places to retire overseas, as reported in its latest 2014 Retire Overseas Index, the Algarve reigns supreme, beating off stiff competition from other popular retirement destinations in countries such as Italy, France and Thailand.
Portugal took top spot in part thanks to the Algarve’s “great weather, enjoying 3,300 hours of sunshine per year, more than almost anywhere else in Europe.”
The report stressed the region is “already home to more than 100,000 resident expat retirees and offers the best of the Old World, from medieval towns and fishing villages to open-air markets and local wine, plus some of Europe’s best beaches.”
It also highlighted the fact that Portugal ranks as the 17th safest country in the world.
“The infrastructure is good and improving, and the healthcare is international-standard. Medical tourism is a growing industry”, the report elaborates.
It also stressed the fact that the cost of living in Portugal is among the lowest in Western Europe.
“A retired couple could live here comfortably on a budget of as little as US$1,500 (€1,140) per month. And the country’s new Non-Habitual Resident and Golden Visa programmes mean it is easier than it’s ever been for a foreign retiree to arrange legal residency”, the report stated.
Rounding off the bottom five places on the list are Istanbul (Turkey), in 10th place, preceded by Panama City Beaches (Panama), Abruzzo (Italy) Medellin (Colombia) and Pau (France), from ninth to sixth place respectively.
Completing the top half of the table were Dumaguete (Philippines, in 5th spot), Chiang Mai (Thailand, 4th), George Town (Malaysia, 3rd) and Cuenca (Ecuador, 2nd), with Portugal’s most popular tourist destination rounding off the Index in the number one spot.