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Exploring Affordable Living: A Guide to the Top 10 Places to Move Abroad in 2020

JOURNAL NOTE 6/3/2024
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TABLE OF CONTENTS

  1. Introduction
  2. Journal Note
  3. Glossary
  4. Source Documents

1. Introduction

  • The decision to move abroad and enjoy a more affordable, relaxed lifestyle has never been clearer. Utilizing data from the Annual Global Retirement Index by International Living, this guide highlights the best destinations to consider for 2020. Forbes offers insights that cater not just to retirees but to anyone looking for a cheaper and more fulfilling way of life.

2. Journal Note

  • Every year, International Living releases its Annual Global Retirement Index, a comprehensive collection of the most affordable and livable destinations around the world. This year, key highlights include the top picks for 2020, meticulously ranked based on various factors such as cost of living, healthcare, and overall quality of life. The list serves as a valuable guide for those contemplating a move abroad to experience a more economical and satisfying lifestyle.

  • Leading the 2020 list is Portugal, celebrated for its friendly environment, excellent healthcare, and affordable living. The country offers a serene pace of life amidst its rich cultural backdrop. Whether one fancies the bustling urban atmosphere of Lisbon or the tranquil beauty of hidden hill towns like Marvão, Portugal presents a broad array of choices at significantly lower costs than many Western countries.

  • Another favored destination is Panama, renowned for its tropical climate and the convenience of the U.S. dollar as currency. Panama City's cosmopolitan vibe, combined with accessible beaches and mountains, makes it attractive. The country's Pensionado program offers easy residency options, particularly enticing retirees with its numerous advantages.

  • Costa Rica continues to be a top contender with its peaceful democratic environment, myriad microclimates, and the 'pura vida' way of life. The Central Valley's temperate weather and the availability of quality healthcare at affordable prices amplify its appeal.

  • Mexico, famous for its vibrant culture, stunning landscapes, and simple living, offers an extensive variety of climates and communities. Popular locations like the Lake Chapala area and San Miguel de Allende provide a blend of expat-friendly environments and rich local traditions.

  • Colombia, with its consistent year-round climate and warm, welcoming people, has been gaining attention. Cities like Medellín offer a balanced lifestyle with significantly lower living costs compared to the United States.

  • Ecuador offers a secure, affordable, and vibrant expat community, particularly in Cuenca. The country's diverse landscapes and temperate climate allow a comfortable lifestyle without the need for heating or cooling systems.

  • Malaysia stands out for its idyllic beaches, low-cost living, and the widespread use of English. The island of Penang, in particular, attracts with its culinary delights, vibrant art scene, and affordable healthcare.

  • Spain offers a myriad of climates and top-quality living standards at lower costs compared to the U.S. Cities like Girona and regions like Andalusia provide diverse options from bustling urban centers to serene countryside retreats.

  • France, known for its rich culture, excellent cuisine, and affordable healthcare, remains an attractive option. Affordable regions include Brittany and the Languedoc-Roussillon area, which offer delightful living with easy access to the rest of Europe.

  • Vietnam, with its modern cities, historical sites, and extremely low cost of living, is ideal for those looking to stretch their dollars. The affordability and hospitality of places like Da Nang and Hoi An make them appealing options for a comfortable and exotic lifestyle.

3. Glossary

  • 3-1. International Living's Annual Global Retirement Index [Index]

  • This index systematically gathers data to rank countries based on their affordability and livability, helping potential expats make informed decisions about moving abroad. The index considers factors such as cost of living, healthcare, and visas, providing a detailed comparison of top destinations.

  • 3-2. Portugal [Country]

  • Ranked as the best-value destination in Western Europe for 2020, Portugal offers affordable living, excellent healthcare, and a high quality of life. Areas like Lisbon and Porto cater to urban living, while places like Marvão and Castelo de Vide offer serene, historical charm.

  • 3-3. Panama [Country]

  • Panama is highlighted for its tropical climate, U.S. dollar currency, low tax burden, and expat-friendly Pensionado program. Popular locales include Panama City and the beach area of Coronado, offering diverse living options from cosmopolitan to peaceful retreats.

  • 3-4. Costa Rica [Country]

  • Known for its peace, stability, and diverse microclimates, Costa Rica offers affordable medical care and a laid-back lifestyle. Regions like the Central Valley are popular for their temperate climate and availability of services.

  • 3-5. Mexico [Country]

  • Mexico's low cost of living, high-quality healthcare, and vibrant culture make it an attractive destination. Places like the Lake Chapala area and San Miguel de Allende provide welcoming environments for expats.

4. Source Documents