Top 5 countries in Asia for retirement - Expat Financial - Global Medical (2023)

FAQs

What is the best country to retire with healthcare? ›

Singapore. Singapore has one of the most efficient and affordable healthcare systems in the world. Retirees, medical tourists, and citizens get to avail excellent medical facilities and access to high-quality staff and services.

According to various studies, including International Living, Portugal is ranked as the best country for US expats to retire to. Its friendly population, welcoming community of American expats, excellent weather, safety records, and affordable cost of living are all big draws for retirees.

Life expectancy, in years, 2021 - Country rankings:

The average for 2021 based on 47 countries was 73.79 years. The highest value was in Hong Kong: 85.49 years and the lowest value was in Afghanistan: 61.98 years. The indicator is available from 1960 to 2021.

Cambodia. Cambodia is one of the best destinations in the world for budget travelers. With friendly people and breathtaking scenery, there is plenty to see and do in the southeast Asian country. Travelers can explore ancient temples and floating villages like Kampong Phluk Village.

China, the most powerful Asian country

With a population of over 1.4 billion China is the second most populated country in the world. Its economy will surpass that of the United States in the coming years. China's GDP has been growing at an average rate of 10% per year over the past two decades.

Mexico. Just south of the United States of America border with warm weather, a wide variety of places to live, miles of coastline, and beautiful cities, Mexico, one of the cheapest countries to retire in, is a popular destination for retirees as well as vacationers.

How much do you need to retire in Asia? ›

In the study's preamble, NetCredit claims the 2021 study shows that retiring in Indonesia will require USD 290,599 in the bank to do it comfortably. Following Indonesia is Malaysia at USD 321,614 and Vietnam remains competitive at USD 353,906. Retiring in Cambodia and Thailand is a close tie at around USD 389,000.

Obtaining a retirement visa in Malaysia grants you many benefits: A ten-year (renewable) visa. Retirees who are accepted into the MM2H program will receive a ten-year visa. After your visa expires, you can apply to renew it indefinitely.

South America is somewhat pricier, though it very much depends where you are – Paraguay, Bolivia and Ecuador are amongst the cheapest places to go, so those looking to save the pennies should opt to visit these countries over Argentina, Brazil and Uruguay.

Healthcare System Performance Ranking

Key findings: “The top-performing countries overall are Norway, the Netherlands, and Australia. The United States ranks last overall, despite spending far more of its gross domestic product on health care.

However, Brazil is the only country in the world that offers free healthcare for all its citizens. Also, Norway is the first country in the world to implement a free healthcare policy as far back as 1912. Coincidentally, Norway is recognized as one of the healthiest countries in the world.

The US, Switzerland and Norway are some of the most advanced countries when it comes to the field of medicine, with huge healthcare spending, numerous pharmaceutical companies and sophisticated academia.

Cyprus is a beautiful and highly developed nation with a low cost of living and a comfortable tax system. But there are many more: check our Best countries to move from the USA list. Greece, Cyprus, Andorra, Portugal, the Caribbean and Malta are among the most favourable places for US expats.

The U.S. can be found way down in 18th place, slipping to 69% from 71% in 2021. Unemployment and income equality account for some of the U.S.'s place in 2022's report. While it achieved the sixth-highest score for income per capita among all the GRI countries, that was offset by a low score for income equality.

Why do Japanese people live so long? ›

Japanese life expectancy

This low mortality is mainly attributable to a low rate of obesity, low consumption of red meat, and high consumption of fish and plant foods such as soybeans and tea. In Japan, the obesity rate is low (4.8% for men and 3.7% for women).

According to Kwok's research, “Hong Kong ranks first for enabling environments,” he said. “That may explain our longevity.” The streets are safe, and there is easy access to public transport, healthy food and public amenities, “enabling” people to live a healthier lifestyle.

Singapore's HDB units are the most affordable public housing in the Asia-Pacific (APAC) region, according to Urban Land Institute (ULI) Asia Pacific Center for Housing's Home Attainability Index. The country's public housing units have a median price-to-income ratio of 4.7.

Singapore surged to top the rankings as the most expensive city in the world for luxury living for the first time as it vies to be a leading global center for the rich.

Sri Lanka is one of the least developed countries in the world, primarily because of factors like corruption and political instability, combined with an economy that lacks diversification. Sri Lanka has further spiraled down after the country defaulted in May, 2022, leading to economic collapse.

Innovations index (0-100), 2022 - Country rankings:

The average for 2022 based on 37 countries was 31.09 points. The highest value was in South Korea: 57.8 points and the lowest value was in Yemen: 13.8 points. The indicator is available from 2011 to 2022. Below is a chart for all countries where data are available.

As a result, Myanmar ranks among the least developed countries in the world. In 2021, its GDP per capita stood at $1,973, making it one of the poorest countries in Asia.

Ecuador. If you're looking for a country where you can retire outside the US comfortably with $800 per month and experience one of the most ecologically diverse places in the world, then Ecuador might be for you. The go-to city for US retirees in Ecuador is Cuenca, which also happens to be a UNESCO World Heritage site.

What is the cheapest English speaking country to retire in? ›

South Africa

Possibly the cheapest English-speaking country to live in is South Africa. Not only can you get by without having to go to language school, but most South African cities also have a high standard of living, similar to Western cities, which will make the transition much easier.

Retirement in the U.S. offers a predictable and familiar lifestyle, and you'll be close to your friends and family. But it can be expensive and lead to a boring routine. Retiring abroad can bring new and exciting experiences, a change of scenery, and a lower cost of living.

This means that you can reasonably expect to live for another two decades after you retire. Using S$2,500 a month, you will need a total of S$600,000. Note that this amount does not include additional expenses for medical issues, emergencies and other exigencies.

The safest place in the world is Iceland, which ranks number one on the 2022 Global Peace Index.

When evaluated by 2022 GPI, the top three safest countries in North America are Canada, Costa Rica, and Panama.

To retire in Thailand comfortably with Western standards of living, we recommend budgeting THB50,000–100,000 per month.

Thailand's cost of living is low. For example, the cost of living in Bangkok — the 5th best country for ex-pats in the world — is $2,670 to $3,288 a month. Thailand offers multiple options for accommodations. You can expect to spend anywhere between $650 to $3000 per month on rent.

How much money is enough to retire in Malaysia? ›

The general rule of thumb

If you are earning RM8,000 by the time you retire, your retirement fund or income should allow you about RM5,600 a month. To achieve that, you will need to save one-third (33%) of your income, from as early as 25 years old.

As we have mentioned, if you're an expat looking to retire in the Philippines you need to register for the SRRV program. The procedure for doing so is as follows: Make an appointment at the Philippine Retirement Authority (PRA) Choose the retirement option that suits you (we will discuss this in further detail below)

You do not need a visa if you are coming for business or tourism for 90 days or less. Immigration officials will place an entry stamp, known as a social visit pass (visa), in your passport authorizing a stay of up to 90 days.

Asia is generally safer than South America, people in Asia are very respectful and the local cultures are very peaceful. This isn't to say bad things won't happen, there is extreme poverty in both continents and things can go wrong anywhere at the wrong place and time, but as a general guide, Asia is safer.

Cheapest and most expensive countries to live in Latin America 2023. According to a recent study, Colombia had the lowest monthly cost of living in Latin America with 546 U.S. dollars needed for basic living.

Singapore

Singapore is considered to be the financial center of the world and is often ranked among the most expensive cities in the world. Higher demand against lower supply has resulted in prices in the country being higher than the average.

According to the WHO, the top countries in terms of healthcare quality are mostly in Europe, with Switzerland, France, and Germany consistently ranking highly.

The US, Switzerland and Norway are some of the most advanced countries when it comes to the field of medicine, with huge healthcare spending, numerous pharmaceutical companies and sophisticated academia.

Where does America rank in healthcare? ›

Despite having the most expensive health care system, the United States ranks last overall compared with six other industrialized countries—Australia, Canada, Germany, the Netherlands, New Zealand, and the United Kingdom—on measures of quality, efficiency, access to care, equity, and the ability to lead long, healthy, ...

Sweden. Sweden is the top country in 2022 best quality of life rankings. The country stands out in the ranking of quality of life for health systems and well-developed public education, security, economic stability, and politics.

However, Brazil is the only country in the world that offers free healthcare for all its citizens. Also, Norway is the first country in the world to implement a free healthcare policy as far back as 1912. Coincidentally, Norway is recognized as one of the healthiest countries in the world.

In 2023, Singapore ranked first with a health index score of 86.9, followed by Japan and South Korea.

Countries in order of their average ranking on the health indicators (with the first being the best) are Japan, Sweden, Canada, France, Australia, Spain, Finland, the Netherlands, the United Kingdom, Denmark, Belgium, the United States, and Germany.

US hospitals, such as the famed Mayo Clinic in Rochester, topped Newsweek's World's Best Hospitals 2022. The top 100 also includes clinics in Germany, Italy, France, and other countries. Americans consider the UAE, Spain, Canada, Singapore, Japan, the UK, and Israel popular medical tourism destinations.

Japan is renowned for having the top doctors in the world in addition to its thriving technology industry. Because of this, medical professionals who graduate from there are skilled and extremely professional in their approach.