Five Latin American countries are among the best places to retire: Costa Rica ranks first

International Living has updated its 2024 Annual Global Retirement Index.

The specialized travel, real estate and expatriation website International Living revealed its list of the best countries to retire in 2024. For the third consecutive year, Costa Rica ranks first in the Annual Global Retirement Index. In addition, five other Latin American countries are in the top 10.

The stunning beaches, the close contact with nature, the political stability, and the high quality of health services offered at a low price are some of the reasons that attract foreigners to Costa Rica.There are also incentives to help digital nomads and other groups invest or obtain their residence in the country.

In the third position, after Portugal (2nd in the rank), is Mexico. The natural beauty and multiplicity of landscapes, as well as the lower costs compared to other countries, place the nation in a prominent place in the list.

Panama, the richest country in the region according to GDP per capita, is in the fourth place. In this case, added to its affordability and its good access to health care, the Central American has an open, stable and dollarized economy. Its status as an airline hub provides accesibility to other destinations.

Behind Spain (ranked 5th) comes Ecuador. The agreeable climate, the cultural mix of traditional and modern, the geographical variety, as well as reasonable living costs, give the Andean nation an advantage over Greece (ranked 7th), Malaysia (ranked 8th) and France (ranked 9th).

Finally, Colombia reaches the 10th place thanks to its wide range of entertainment and services in big cities like Bogotá and Medellín and its natural beauty. According to the World Health Organization, Colombia’s health care system is comparable to that of the United States and Canada. Moreover, recent changes in visa programs, which in certain cases include access to social security, and permits for digital nomads contributed to the attractiveness of this destination for foreigners.

The opinion-based ranking, which is compiled every year using the experiences of expats as guidance, also takes into account factors such as access to housing, infrastructure development, political climate, Internet connection, and the possibilities for non-locals to expand their social circle.

Author: Marina Vanni