The Philippines was included in Forbes Magazine’s top 20 Foreign Retirement Havens of 2015.
The magazine came up with a list of countries most suitable for retirement after considering several factors such as cost of living, taxes, medical care, climate, security and crime, cultural attractions and hospitality and ease of return to the United States.
“The principal appeal of the Philippines is a low cost of living in a tropical environment full of English speakers and [its]outdoor beauty. Foreign income is untaxed, and permanent residency can be had on a minimal showing of retirement income,” the article written by William Barrett said.
It listed Tagaytay and Subic Bay among the popular destinations—Tagaytay because of its cooler climate and Subic because of the infrastructure from the old US Navy base.
However, the magazine reminded interested retirees to “stay away from” far-flung provinces infested by Muslim rebels. Also, it said that “if returning to the States with minimum cost and hassle to visit loved ones is important,” the Philippines, along with Malaysia and Australia, won’t be the most suitable retirement place.
The complete list of top 20 retirement countries are Australia, Belize, Canada, Chile, Colombia, Costa Rica, Croatia, Ecuador, France, Ireland, Italy, Malaysia, Mexico, Nicaragua, Panama, Philippines, Portugal, Spain, Thailand and Uruguay.