Latin America has been cited as the world’s best region for retirement destinations based on the just released 2021 index of top 10 retirement destinations.

The index prepared by web portal International Living listed Costa Rica as the top destination for retirement with four other Latin American countries in the top 10 list. They are Panama, Mexico, Colombia and Ecuador.

The report describes Costa Rica as the “Switzerland of Central America”. In its assessment of Costa Rica, International Living described the Latin American jurisdiction as a peace-loving democracy, filled with friendly people.

Costa Rica is known for its tropical climate and as a country, which offers affordable medical care. In addition, Costa Rica has been described in the International Living top 10 retirement destinations’ report as having a very low level of cost of living.

Compilation of the index

The countries are ranked on the basis of wide-ranging factors, including infrastructure, cost of living, housing, benefits and discounts, ease of getting a visa, climate and healthcare.

The Retirement Index is said to be the most comprehensive and in-depth survey of its kind and represents the best way of sifting through the wealth of opportunity the world offers and pinpoint the best destination for retirement.

The index is informed by hundreds of opinions and real-life experiences. The information is compiled by International Living’s trusted sources across the globe. It’s designed to be a useful tool for people, constructed out of real world, on-the-ground information interpreted through a lens of well-informed experience and opinion.

The index has been around for the past three decades, during which International Living scouts have scoured every corner of the globe many times over. This year’s result is a much bigger and ever-growing selection of outstanding destinations where persons can live a healthier and happier life, spend a lot less money and get a whole lot more.

Latin American countries

The report describes Ecuador as the land of diversity, adding that the country is the perfect combination of climate, culture, and affordability. It offers the conveniences of modern living, including high-speed fiber optic internet and American dollar currency.

According to the report, Colombia is a more developed country than most in Latin America. Already, thousands of expats have moved into this Andean country to start a new life. Moreover, the report highlights that the dark days of Colombia’s past are gone and that it has been transformed into a thriving country.

Panama’s pension programme, Pensionado, has earned the country a top 10 spot in the 2021 index. The programme was created to ensure retired Panamanians could live with dignity as active members of society.

Mexico, according to the report, is already a haven for expatriates. More than one million Americans and a half-million Canadians call the country home today, living there either full-time or part of the year.

Mexicans have a zest for life and are known for a “live and let live” attitude.

“A retired couple can live well in Mexico on a fraction of what they might spend back home,” the report states.