Geoarbitrage is the practice of earning or saving in a strong currency while living in a country with a lower cost of living, and it’s no longer just for digital nomads.
Increasingly, retirees are embracing this strategy to stretch their pensions, Social Security, and savings.
With housing costs and medical expenses rising in the U.S. and Europe, many are finding that living abroad offers not only financial relief but also a higher quality of life.
Here are 20 countries where retirees can live comfortably, affordably, and relatively stress-free.
Mexico
- Cost of Living: Around $1,500–$2,000 per month for expats
- Why It’s Attractive: Proximity to the U.S., vibrant expat hubs, affordable healthcare
Mexico tops many retirement lists thanks to its warm climate, beach towns, and well-established expat communities like Lake Chapala and Mérida. With inexpensive healthcare and easy flights home, it’s a practical choice for Americans looking to stretch retirement savings.
Portugal
- Cost of Living: $1,600–$2,200 per month
- Why It’s Attractive: Mild climate, safety, affordable healthcare, residency pathways
Portugal offers retirees a Mediterranean lifestyle at a fraction of the cost of Spain or Italy. The Algarve region is particularly popular for its sunny beaches, English-speaking locals, and growing retiree communities.
Thailand
- Cost of Living: $1,200–$1,800 per month
- Why It’s Attractive: Low costs, excellent food, warm weather, strong expat scene
Thailand has long been a favorite for retirees seeking geoarbitrage. Chiang Mai offers a laid-back lifestyle, while Bangkok and coastal towns provide modern amenities at bargain prices.
Costa Rica
- Cost of Living: $1,700–$2,300 per month
- Why It’s Attractive: Nature, healthcare, political stability
Costa Rica’s “pura vida” lifestyle, lush rainforests, and modern medical system make it a favorite. Retirees also enjoy discounts on utilities, entertainment, and travel through the country’s pensionado program.
Colombia
- Cost of Living: $1,200–$1,700 per month
- Why It’s Attractive: Urban culture, beautiful landscapes, improving safety
Cities like Medellín boast mild weather, affordable apartments, and a growing expat scene. Colombia’s healthcare system is highly rated and surprisingly affordable.
Ecuador
- Cost of Living: $1,000–$1,500 per month
- Why It’s Attractive: Low living costs, pensioner perks, diverse climate
Ecuador offers retirees a mix of mountain towns like Cuenca and coastal havens. Expats enjoy discounts on flights, utilities, and public services, making pensions go even further.
Malaysia
- Cost of Living: $1,200–$1,800 per month
- Why It’s Attractive: Modern infrastructure, tropical climate, affordable healthcare
Malaysia’s “Malaysia My Second Home” visa makes it simple for retirees to stay long-term. Cities like Penang are popular for their blend of modern living and Southeast Asian culture.
Vietnam
- Cost of Living: $900–$1,400 per month
- Why It’s Attractive: Extremely low costs, vibrant food culture, growing expat scene
Vietnam is among the cheapest countries for retirees. From Hanoi to Da Nang, expats find apartments for a few hundred dollars a month, with delicious meals costing just a few dollars.
Panama
- Cost of Living: $1,500–$2,200 per month
- Why It’s Attractive: U.S. dollar economy, retiree discounts, good healthcare
Panama’s pensionado program is famous for offering retirees big discounts on flights, restaurants, and healthcare. Its capital is cosmopolitan, while towns like Boquete offer slower living.
Spain
- Cost of Living: $1,800–$2,500 per month
- Why It’s Attractive: European lifestyle, healthcare, culture
Retirees are flocking to Spain for its blend of history, food, and affordable living compared to northern Europe. Coastal cities and small towns remain especially affordable.
Dominican Republic
- Cost of Living: $1,200–$1,800 per month
- Why It’s Attractive: Caribbean beaches, expat hubs, affordable living
The Dominican Republic offers retirees a tropical lifestyle without the high costs of other Caribbean islands. Its capital and smaller beach towns host vibrant expat communities.
Belize
- Cost of Living: $1,200–$1,900 per month
- Why It’s Attractive: English-speaking, Caribbean lifestyle, retiree visa program
Belize makes retirement simple with its Qualified Retired Persons program. English is the official language, making integration easier than in many other destinations.
Turkey
- Cost of Living: $1,000–$1,600 per month
- Why It’s Attractive: Low living costs, rich culture, seaside towns
Turkey offers a Mediterranean lifestyle for a fraction of the price of Greece or Italy. Its coastal cities and vibrant culture make it appealing to adventurous retirees.
Philippines
- Cost of Living: $900–$1,500 per month
- Why It’s Attractive: Low costs, English widely spoken, special retiree visa
The Philippines is one of the most affordable retirement destinations, with thousands of islands to explore. English is common, and the government’s Special Resident Retiree Visa makes long stays easy.
Peru
- Cost of Living: $1,000–$1,500 per month
- Why It’s Attractive: Inexpensive, cultural richness, urban comforts in Lima
From Lima’s food scene to Cusco’s mountain lifestyle, Peru gives retirees cultural depth at bargain prices. Healthcare is affordable and widely available in major cities.
Morocco
- Cost of Living: $1,000–$1,600 per month
- Why It’s Attractive: Cultural heritage, proximity to Europe, affordable housing
Morocco’s mix of tradition and modernity is drawing more retirees. Cities like Marrakech and Essaouira offer historic charm and affordable housing near the coast.
Georgia
- Cost of Living: $900–$1,400 per month
- Why It’s Attractive: Visa-free stays, low costs, welcoming culture
The Republic of Georgia (not the U.S. state) is a hidden gem. Tbilisi is cosmopolitan yet affordable, and retirees can stay visa-free for up to a year.
Nicaragua
- Cost of Living: $900–$1,400 per month
- Why It’s Attractive: Low living costs, retiree perks, beach towns
Nicaragua’s retiree residency program offers discounts on healthcare, utilities, and entertainment. Coastal cities and colonial towns alike appeal to expats on tight budgets.
Greece
- Cost of Living: $1,200–$1,800 per month
- Why It’s Attractive: Mediterranean lifestyle, history, healthcare
Greece provides a relaxed lifestyle, affordable housing in small towns, and a retiree visa for non-EU citizens. The islands and coastal regions are especially appealing.
Uruguay
- Cost of Living: $1,500–$2,200 per month
- Why It’s Attractive: Stable democracy, good healthcare, laid-back living
Uruguay often flies under the radar but offers retirees stability, affordable healthcare, and a slower pace of life. Montevideo and coastal towns are popular choices for expats seeking balance and affordability.
Prediction: The Next Expat Hotspots
- Predictions: Albania, Bulgaria, Paraguay, and Montenegro
- Why They’re Next: Low costs, improving infrastructure, and growing visibility among retirees
Looking forward, emerging destinations are beginning to catch retirees’ attention. Albania and Montenegro offer Mediterranean lifestyles without the high price tag of Italy or Greece. Bulgaria combines EU access with bargain living costs, while Paraguay has one of the world’s easiest residency programs.
These rising hotspots are our predictions for the next wave of geoarbitrage havens for adventurous retirees.
