The cheapest country in the world to retire is ‘beautiful’

Simon Calder warns Britons about Christmas flights

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Many retired Britons dream of moving abroad and enjoying a warmer climate in their golden years. A stunning country has been named the cheapest country for British expats.

The team of financial experts at Penfold looked at the best countries around the world to retire.

They researched the most popular destinations looking at the cost of living, healthcare costs and safety.

The Philippines was named as one of the cheapest countries in the world for Britons to retire.

The cost of living in the Philippines is half the price of the UK and retirees won’t have to spend nearly as much on accommodation, food or daily essentials.

Prices are a lot lower than in other southeast Asian destinations such as Singapore and Bangkok.

Expats will save a lot of money if they shop at local markets and it’s possible to eat out regularly.

With a warm tropical climate and a growing economy, the Philippines has quickly become one of Asia’s top destinations for expats.

Made up of over 7,500 islands, the Philippines has a stunning coastline and one of the world’s highest levels of biodiversity.

The country’s highest rated beach, Nacpan, is located on popular Palawan island and attracts many tourists.

One wrote on Tripadvisor: “Beautiful beach, nice gentle waves. Lots of different foods and a couple of nice restaurants.”

The majority of expats live in the country’s capital, Manila, with some opting to stay in gated communities.

While the Philippines is generally safe for expats, armed robberies have occurred on public transport in Manila.

An expat told HSBC: “Transport of your own is a must. Let it be your first priority. Always keep some cash at home.”

Retired expats may prefer to live by the beach where they can enjoy good weather and a more relaxed pace of life.

However, despite the lower cost of living, expats will need to consider the quality of the Philippines’ healthcare before they move.

A Penfold spokesperson said: “The Philippines has the lowest costs within the countries listed, yet the worst quality of healthcare facilities.”

Medical staff in the Philippines are highly qualified and very in demand worldwide but they often have to work in poor quality facilities in their home country.

Healthcare facilities vary widely around the country and expats may find better options in cities than rural areas.

Many expats opt to pay for private healthcare which generally has better equipment than public hospitals.

Some expats even travel to Hong Kong or Singapore for treatment and retired Britons will have to decide whether that is feasible.

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