Not just travel: 10 cheapest countries to retire in — 9 and 10 will surprise you

Retirement today is no longer just about slowing down — for many people, it is becoming an opportunity to start over somewhere more affordable, peaceful, and fulfilling. Around the world, several countries are attracting retirees with lower living costs, scenic landscapes, good healthcare systems, and relaxed lifestyles.
A list compiled by Numbeo’s Cost of Living index used factors such as the Global Peace Index, healthcare access, quality of life, and cost of living to identify destinations where retirees can stretch their savings without giving up comfort. From sunny European coastlines to tropical escapes in Latin America and Southeast Asia, these countries are increasingly becoming retirement favourites for expats.
Here are 10 of the cheapest countries where retirees can still live comfortably and enjoy a high quality of life.

Thanks to its beautiful beaches, charming villages, and safety factor, Portugal remains one of the most appealing destinations for retirees worldwide. In addition to an affordable cost of living, this European country boasts outstanding healthcare services, favorable climate, and a relaxing lifestyle. Many retirees are attracted by areas such as the Algarve that offer beach views and a relaxed lifestyle. The café culture, pedestrian-friendly cities, and good public transportation in Portugal make it possible to live comfortably without owning a car. Furthermore, Portugal has traditionally been a favorite place of residence for foreigners due to various residency programs and tax benefits.

Malaysia has turned into a popular destination for retirees in Asia, thanks to low costs of living, advanced infrastructure, and an exotic climate. Modern cities such as George Town and Kuala Lumpur, combined with the proximity to the ocean and tropical nature, provide an opportunity for an enjoyable stay. One of the most popular reasons for choosing Malaysia is the possibility to participate in the Malaysia My Second Home program. In addition to being an easy place to reside in and having low-cost healthcare services, the country provides English speakers with a great opportunity to live comfortably.

Spain is a popular retirement choice due to being a cheaper option than other countries within Europe while retaining an affordable European lifestyle. One does not have to travel much in Spain to find places that boast beaches, history, and culture. While Madrid and Barcelona may prove to be expensive, there are still smaller cities of Spain where a person can live affordably. The public health system is another strong point of this choice because it ensures good medical service to retired residents. Spanish cuisine, art, architecture, and traditions complete this list of positive factors.

Costa Rica has always been popular among pensioners who want to enjoy their life without breaking the bank. This nation is known for its bio-diverse flora and fauna, eco-tourism, beaches, and lush mountains with jungles on top. Many pensioners are keen on living close to nature and taking advantage of numerous outdoor activities available, like surfing, bird-watching, walking in mountains, etc. While one can also live in the capital of Costa Rica – San Jose, the majority of foreigners choose coastal and mountain regions.

Panama has become one of the most popular places for retirement in Latin America because of the specific perks the country provides for foreigners. There are plenty of options for every preference, from living in a busy metropolitan city such as Panama City to enjoying the cool climate in a remote place like Boquete. Pensionados can benefit from the discounts provided in all spheres, from public transportation to entertainment. With relatively cheap prices on various services and products, Panama provides an opportunity to lead a comfortable life.

Usually overlooked as an option because of proximity to Western Europe, Czechia offers a chance to enjoy the beauty of Europe at lower prices. Known as a homeland of medieval towns, castles, cobblestone streets, and unique culture, Czechia has something interesting to offer to everyone. While Prague is the primary choice of many visitors and tourists, there are some small towns and cities in Czechia that can offer the same atmosphere without charging excessively. Apart from all these factors, Czechia is considered one of the safest countries in the world.

The beautiful scenery, rich history, and renowned culinary delights of Peru make it an appealing destination for seniors. Whether it is the coastal areas, mountain villages, or big cities such as Lima, there are various lifestyles available in Peru, all at reasonable prices. Areas like Miraflores in Lima, with their proximity to the sea and good facilities, are well-known among expatriates. Another factor that attracts retired people to this place is the exceptional cuisine of Peru, which is considered one of the best in the world.

For retired individuals dreaming about the Alpine scenery but not wanting to pay a premium price, Slovenia provides an excellent choice. This beautiful little country in Europe is famous for its lakes, mountains, forests, and picturesque towns. Its capital, Ljubljana, is often mentioned for its high quality of life. Nature lovers have the opportunity to explore Slovenia's numerous national parks or enjoy cycling, trekking, and other outdoor activities.

Despite being one of the more costly countries on this list, the country is certainly worth the extra cost because of its excellent quality of life. Its major cities feature pristine urban environments, reliable transportation, scenic mountains, and an abundance of culture and art. For instance, the city of Vienna is regularly rated one of the best places to live and features museums, concerts, cafes, and historical landmarks throughout the city. Retirees who prefer the combination of safety and health care services will benefit from the Austrian experience.

Completing the list is Australia and its relaxed environment, outdoor lifestyle, and beautiful coastline. Although this country is one of the most expensive options on this list, retirees who satisfy immigration criteria will find a good standard of living despite the high cost. From its national parks, stunning wildlife, and long hours of sunlight, Australia continues to attract retirees from all over the globe. Coastal towns and larger cities in the country have a lot to offer in terms of active retiree lifestyle.