Forbes names Philippines among retirement havens

Forbes Magazine recently announced the best places in the world to retire in, and the Philippines is on the list.

 

SUNSET ATOP MT. TAPYAS in Coron, Palawan.

 

Calling the list the “20 Best Foreign Retirement Havens for 2015”, Forbes listed countries based on its Annual Global Retirement Index, which takes into account factors such as cost of living, taxes, medical care, climate, peace and order, cultural attractions and hospitality, and ease of return to the US.

Forbes highlighted the country’s low cost of living, our tropical climate, the abundance of English speakers, and natural beauty. They also pointed out that “foreign income is untaxed, and permanent residency can be had on a minimal showing of retirement income,” as well as direct flights between Manila and the West Coast.

Tagaytay and Subic Bay were named as some of the popular places to reside. Tagaytay’s appeal is its cooler climate thanks to its elevation. Subic Bay’s infrastructure from the old U.S. Naval Base would appeal to U.S. retirees as it feels very similar to home.

According to a report from the Philippine Star, Subic Bay Metropolitan Authority Chairperson Roberto Garcia said that the list helped bolster their marketing efforts “in promoting the Freeport as the best retirement haven in the country.”

Other countries mentioned are Canada, Belize, Australia, and Ecuador, which has the potential to be the “world’s greatest retirement value play.”

 

Source: Philstar.com, Forbes