Greece has secured a place in the top 10 countries for a comfortable retirement, according to the latest report released by the American information and analytical company, US News & World Report.
In this extensive study, 87 countries were evaluated, considering key factors that significantly influence the suitability of a location for retirement. Switzerland emerged as the leader despite its higher cost of living, owing to its economic stability, safety, and efficient bureaucracy. Portugal and Australia claimed the second and third positions, with New Zealand and Spain rounding out the top five. Denmark secured the tenth spot.
Greece's notable ninth-place ranking is particularly impressive, surpassing not only several European countries but also stronger economies like Japan and the United States.
The "2023 Best Countries for a Comfortable Retirement" rankings, complementing the broader 2023 Best Countries rankings by U.S. News, are derived from a global survey involving over 17,000 respondents. These rankings are based on the perceptions of around 6,100 individuals in their mid-40s and older, who assessed various countries based on seven specific attributes: affordability, a favourable tax environment, friendliness, desirability as a place to live, pleasant climate, respect for property rights, and a well-developed public health system.
A Consistent High Performer
This is not the first time Greece has excelled in such ratings. Earlier this year, the 2023 Annual Global Retirement Index released a list assessing numerous factors, including healthcare, cost of living, visas, housing, and climate, to determine the best places to retire. Greece secured the seventh position as one of the best countries to retire in 2023. The country's appeal lies in its stunning landscapes, the cost of living approximately 20 per cent cheaper than that of the United States, and its world-renowned cuisine. Additionally, Greek culture places a strong emphasis on food, making it a delightful destination for retirees.
Challenges of an Aging Population
In the case of Greece, the country's population has been steadily declining since 2011. According to Eurostat, it is projected to have the oldest population in the EU by 2030, surpassing Italy. With more than half of the population already over the age of 50, it is estimated that Greece could lose nearly a million people by 2050 and two million by 2070. This trend aligns with the 3.5% population decline revealed in the 2022 Census, reducing the country's current population to 10,432,481 permanent residents.
Of Greece's thirteen regions, twelve reported population decline, highlighting the challenges posed by an aging demographic. Economic struggles and pessimism have contributed to a decline in the birth rate. Moreover, diminishing student numbers and a shrinking workforce present additional demographic challenges
Top 10 Countries for a Comfortable Retirement:
- Switzerland
- Portugal
- Australia
- New Zealand
- Spain
- Canada
- Sweden
- Italy
- Greece
- Denmark
