In today's fast-paced world, many dream of escaping the daily grind and starting a new chapter of their lives in a foreign country. The idea of living in a place where the cost of living is significantly lower and the quality of life is exceptional is indeed tempting. If you're considering such a move, you're in luck. In this article, we'll explore the top destinations where you can live comfortably and affordably in 2020, based on the insights from the Annual Global Retirement Index by International Living.
1. Portugal: A Dream Come True
Portugal takes the crown as the best place to live in 2020. This Western European gem boasts affordability, high-quality healthcare, a relaxed pace of life, and welcoming locals. Whether you prefer the vibrant city life of Lisbon or the serene charm of hill towns like Marvão and Castelo de Vide, Portugal has it all. The cost of living in Portugal is remarkably low, making it an attractive destination for expats. A couple can comfortably live on about $2,200 a month in Lisbon, and even less in smaller cities or the picturesque Silver Coast.
2. Panama: The Tropical Paradise
Panama is a tropical haven that beckons to expats with its warm climate, dollar-based economy, and excellent healthcare. The Pensionado program offers easy residency to retirees, making it an attractive option for those looking to settle in the heart of the Americas. Panama City is a popular choice, but the country's diverse landscapes and accessible cities, like Coronado, El Valle, and Pedasí, offer a range of lifestyle options. A couple can enjoy life in Panama on a monthly budget as low as $1,700 in Panama City, and even less in other areas.
3. Costa Rica: Nature's Playground
Costa Rica has been a consistent favorite on International Living's Retirement Index due to its stunning beauty, affordable healthcare, and a variety of climates. With abundant nature, warm locals, and a straightforward residency process, it's no wonder that Costa Rica remains a top contender. You can choose to live in the temperate Central Valley, the coastal region of Guanacaste, or near the pristine Lake Arenal, each offering its unique charm. A single person can comfortably live on $1,500 to $1,800 a month in the Central Valley.
4. Mexico: Life Simplified
Life in Mexico is simple and delightful, offering high-quality healthcare, beautiful beaches, a rich cultural scene, and a low cost of living. The country has something for everyone, from beachfront living in Bucerías to the cultural treasures of Toluca. The cost of living is notably low, with a couple being able to enjoy a comfortable life for as little as $1,500 a month. Mexico's proximity to the United States, combined with its diverse landscapes and vibrant cities, make it an enticing destination for retirees.
5. Colombia: South America's Rising Star
Colombia is on the rise, thanks to its low cost of living, stunning scenery, and welcoming people. With a climate to suit every taste, from warm and tropical on the Caribbean coast to the eternal spring of the lower Andes mountains, Colombia offers a diverse range of lifestyle options. Living costs in Colombia are significantly lower than in the United States, making it an affordable choice for expats. The warm and inviting atmosphere in this South American gem adds to its appeal.
6. Ecuador: A Secure Nest
Ecuador offers expats a secure nest with its spring-like weather, affordability, and welcoming communities. The country's Benefits/Discounts and Cost of Living categories score well, ensuring that retirees can enjoy their golden years without breaking the bank. From small village life to the conveniences of big cities, Ecuador caters to all preferences. The cost of living in Ecuador is exceptionally budget-friendly, with a frugal single person living on less than $1,000 per month in cities like Cuenca.
7. Malaysia: Tropical Paradise
Malaysia, with its idyllic beaches, pristine rainforests, and low living costs, has been a popular expat destination for decades. The country's English-friendly environment, ease of property ownership, and tax benefits make it an attractive option for those seeking a more affordable yet high-quality lifestyle. Malaysia's climate varies from tropical beaches to cooler highlands, providing diverse options for expats. In Penang, a couple can comfortably live on $1,455 per month, enjoying an outdoor lifestyle and a vibrant food scene.
8. Spain: The Good Life
Spain offers one of the highest living standards in Europe at a fraction of the cost. With its pleasant climate, stunning countryside, and rich culture, Spain is an ideal destination for expats seeking a touch of glamour and sophistication. Whether you prefer the warm south, the cooler north, or the mountainous regions, Spain has it all. Madrid, one of the most expensive locations, still allows a couple to live modestly on $2,000 a month. The excellent healthcare system and affordability of daily essentials make Spain a fantastic choice.
9. France: A World of Charm
France, known for its good food, wine, and high-quality living, is more affordable than you might think. From the romantic countryside of Normandy to the lively Languedoc-Rousillon region, France offers a diverse range of lifestyles. Even in the bustling capital, Paris, a couple can live comfortably on a monthly budget of $2,083 to $2,483. The country's excellent healthcare system, vibrant culture, and rich history make it a top destination for expats.
10. Vietnam: A Hidden Gem
Vietnam, with its modern cities, ancient sites, and welcoming people, is a hidden gem in Southeast Asia. Boasting one of the strongest economies in the region, Vietnam is not only affordable but also offers an easy living environment with English widely spoken. The country's diverse landscapes, from bustling Ho Chi Minh City to the historic capital of Hanoi, provide a variety of choices for expats. Even in the major cities, a couple can comfortably live on less than $1,100 per month, making Vietnam an enticing option for those seeking a more affordable, yet vibrant, lifestyle.
Conclusion
With these top destinations for living abroad in 2020, your dream of escaping the daily grind and embracing a more affordable and fulfilling life is within reach. Whether you're drawn to the serene beauty of Portugal, the tropical allure of Panama, the eco-diversity of Costa Rica, or any of the other fantastic options, each of these countries offers a unique blend of affordability and quality of life. So, pack your bags and embark on a new adventure in one of these remarkable destinations. Your dream of a more affordable and enriching life abroad awaits.
