Dumaguete among world's 'best places to retire'

Posted at 09/01/14 7:25 PM

Photo courtesy of http://dumaguetecity.gov.ph/

MANILA – Dumaguete, the capital of Negros Oriental in Central Visayas, is among the best places to retire around the world, according to the 2014 Retire Overseas Index released by the Overseas Retirement Letter.

The study showed that Dumaguete was chosen due to its cheap cost of living, coming in second only to Nha Trang, Vietnam.

Based on expenses such as rent, gas, electricity, water, cable, groceries, internet, and entertainment, retirees living in Dumaguete will only need a monthly budget of US$910 or about P40,000.

In Nha Trang, the monthly budget is $680 or about P30,000.

Dumaguete is also among the best places for retirees and among most expat-friendly destinations because of its beautiful beaches and its large English-speaking community.

“You could get by living in the Panama City Beaches in Panama; in George Town, Malaysia; Dumaguete, Philippines; and in Puerto Vallarta, Mexico, without speaking any of the local language,” the study said.

The 2014 Retire Overseas Index ranked the locations based on 12 factors, namely climate, existing expat community, cost of living, health care, crime, infrastructure, English spoken, real estate, entertainment, residency options, environmental conditions and taxes.

Topping the list as the best place in the world to retire this 2014 is Algarve, Portugal, which was described by the report as the province that “offers the best of Europe, including medieval towns, fishing villages, open-air markets, and local wine, plus some of Europe’s best sandy beaches.”

“The Algarve is a land of cobblestoned streets and whitewashed houses with lace-patterned chimneys, surrounded everywhere by fig, olive, almond, and carob trees,” it added.

Aside from Dumaguete and Algarve, rounding out the list of 21 best places to retire overseas are Ambergris Caye, Belize; La Serena, Chile; Buenos Aires, Argentina; Medellin, Colombia; Cayo, Belize; Mendoza, Argentina; City Beaches, Panama; Puerto Vallarta, Mexico; Cuenca, Ecuador; Samana, Dominican Republic; Granada, Nicaragua; Abruzzo, Italy; Istria, Croatia; Pau, France; Barcelona, Spain; Chiang Mai, Thailand; Istanbul, Turkey; Nha Trang, Vietnam; and George Town, Malaysia.

“We would say that, collectively, these are the world’s most affordable, most welcoming, friendliest, safest retirement choices right now. They certainly, the bunch of them, offer lifestyles that qualify as the world’s richest, fullest, and most fulfilling. These are the best places on earth to reinvent your retirement into the
biggest adventure of your life,” the report said.