Warmer climates and a lower cost of living may be driving more UK residents to explore retirement options abroad, as evidenced by an increase in Google searches for “retire to [destination]”. In July 2024 alone, 6,110 searches were made compared to 4,700 in July 2023, indicating a significant shift in retirement planning.
Thailand the most searched destination
In response to this surge in interest, Xpatfone (https://xpatfone.com/) a leading virtual UK mobile number provider, has revealed the top 10 most searched countries by Brits for retirement, according to Google. Among the findings, Thailand has emerged as the most popular destination, capturing the imagination of UK retirees with its affordable living, tropical climate, and vibrant culture.
Here are the top 10 in a bit more detail to understand some of the key advantages of retiring abroad vs the UK:
1. Thailand
– Average monthly searches: 590 (YoY change +50%)
– Cost of living:
Meal for 2 at a mid-range restaurant: £19.43 (68% cheaper than the UK)
Domestic Beer (0.5 litre draught) – in restaurant: £1.55 (66% cheaper than the UK)
Housing: Rent for a 3-bedroom apartment in the city centre: £853.32 (52% cheaper than the UK)
Utilities: Basic utilities for an 85m² apartment: £58.15 (76% cheaper than the UK)
– Sunshine: 2,625 hours per year (57% more sunshine than the UK)
Thailand’s appeal lies in its low cost of living, tropical weather, and friendly locals. The country offers a unique mix of bustling city life and tranquil beach towns, providing retirees with diverse lifestyle options. With everyday expenses such as food, housing, and utilities significantly lower than in the UK, Thailand is increasingly being seen as an ideal destination for those seeking both adventure and affordability in their retirement years.
2. Spain
– Average monthly searches: 590 (YoY change +23%)
– Cost of living:
Meal for 2 at a mid-range restaurant: £43.05 (28% cheaper than the UK)
Domestic Beer (0.5 litre draught) – in restaurant: £2.58 (43% cheaper than the UK)
Housing: Rent for a 3-bedroom apartment in the city centre: £1,328.39 (25% cheaper than the UK)
Utilities: Basic utilities for an 85m² apartment: £115.90 (53% cheaper than the UK)
– Sunshine: 2,835 hours per year (69% more sunshine than the UK)
Spain remains a top choice for retirees, thanks to its warm climate, affordable cost of living, and vibrant expat communities. The country offers diverse cultural experiences, and beautiful landscapes, from sunny beaches to picturesque villages.
3. Portugal
– Average monthly searches: 390 (YoY change 0%)
– Cost of living:
Meal for 2 at a mid-range restaurant: £34.26 (43% cheaper than the UK)
Domestic Beer (0.5 litre draught) – in restaurant: £2.14 (52% cheaper than the UK)
Housing: Rent for a 3-bedroom apartment in the city centre: £1,429.18 (19% cheaper than the UK)
Utilities: Basic utilities for an 85m² apartment: £99.89 (59% cheaper than the UK)
– Sunshine: 2,810 hours per year (68% more sunshine than the UK)
Portugal is known for its mild climate, beautiful coastline, and rich cultural heritage. The country offers a high quality of life at a lower cost, with affordable dining, housing, and utilities.
4. New Zealand
– Average monthly searches: 260 (YoY change +53%)
– Cost of living:
Meal for 2 at a mid-range restaurant: £56.71 (5% cheaper than the UK)
Domestic Beer (0.5 litre draught) – in restaurant: £4.73 (5% more expensive than the UK)
Housing: Rent for a 3-bedroom apartment in the city centre: £1,412.89 (20% cheaper than the UK)
Utilities: Basic utilities for an 85m² apartment: £108.86 (56% cheaper than the UK)
– Sunshine: 2,060 hours (23% more sunshine than the UK)
New Zealand is favoured for its stunning natural scenery, outdoor lifestyle, and friendly communities. It offers a relaxed pace of life, with plenty of opportunities for outdoor activities like hiking and boating. The cost of living is generally lower than in the UK, making it a desirable destination for retirees.
5. Australia
– Average monthly searches: 260 (YoY change +24%)
– Cost of living:
Meal for 2 at a mid-range restaurant: £62.01 (3% more expensive than the UK)
Domestic Beer (0.5 litre draught) – in restaurant: £5.68 (26% more expensive than the UK)
Housing: Rent for a 3-bedroom apartment in the city centre: £1,869.12 (6% more expensive than the UK)
Utilities: Basic utilities for an 85m² apartment: £157.11 (36% cheaper than the UK)
– Sunshine: 2,815 hours (68% more sunshine than the UK)
Australia attracts retirees with its excellent quality of life, modern infrastructure, and stunning natural beauty. While the cost of living can be higher in certain cities, the outdoor lifestyle, and English-speaking environment are major draws. Retirees enjoy the diverse landscapes, from beaches to the outback.
6. France
– Average monthly searches: 260 (YoY change +23%)
– Cost of living:
Meal for 2 at a mid-range restaurant: £51.39 (14% cheaper than the UK)
Domestic Beer (0.5 litre draught) – in restaurant: £5.14 (14% more expensive than the UK)
Housing: Rent for a 3-bedroom apartment in the city centre: £1,212.63 (31% cheaper than the UK)
Utilities: Basic utilities for an 85m² apartment: £156.96 (36% cheaper than the UK)
– Sunshine: 1,660 hours (1% less sunshine than the UK)
France offers retirees a blend of cultural richness, beautiful landscapes, and a slower pace of life. With its world-renowned cuisine, historic cities, and charming countryside, France is a dream destination for many. The cost of living is lower in many regions compared to the UK, making it an appealing choice for those seeking a culturally enriching retirement.
7. Italy
– Average monthly searches: 170 (YoY change +91%)
– Cost of living:
Meal for 2 at a mid-range restaurant: £51.39 (14% cheaper than the UK)
Domestic Beer (0.5 litre draught) – in restaurant: £4.28 (5% cheaper than the UK)
Housing: Rent for a 3-bedroom apartment in the city centre: £1,141.21 (35% cheaper than the UK)
Utilities: Basic utilities for an 85m² apartment: £170.21 (31% cheaper than the UK)
– Sunshine: 2,615 hours (56% more sunshine than the UK)
Italy offers a rich cultural experience, with its historic cities, stunning countryside, and world-class cuisine. Retirees appreciate the country’s slower pace of life, diverse regions, and affordable living costs, particularly in housing. Italy is a popular choice for those looking to enjoy their retirement in a culturally vibrant and scenic setting.
8. Malaysia
– Average monthly searches: 170 (YoY change +50%)
– Cost of living:
Meal for 2 at a mid-range restaurant: £17.61 (71% cheaper than the UK)
Domestic Beer (0.5 litre draught) – in restaurant: £2.77 (38% cheaper than the UK)
Housing: Rent for a 3-bedroom apartment in the city centre: £519.82 (71% cheaper than the UK)
Utilities: Basic utilities for an 85m² apartment: £38.52 (84% cheaper than the UK)
– Sunshine: 2,220 hours (33% more sunshine than the UK)
Malaysia’s low cost of living, tropical climate, and modern amenities make it an attractive retirement destination. The country offers a mix of urban and natural attractions, from bustling cities to tranquil beaches. Retirees appreciate the affordable housing and utilities, as well as the diverse culture and cuisine.
9. Greece
– Average monthly searches: 170 (YoY change +21%)
– Cost of living:
Meal for 2 at a mid-range restaurant: £42.83 (29% cheaper than the UK)
Domestic Beer (0.5 litre draught) – in restaurant: £3.85 (14% cheaper than the UK)
Housing: Rent for a 3-bedroom apartment in the city centre: £709.54 (60% cheaper than the UK)
Utilities: Basic utilities for an 85m² apartment: £183.84 (25% cheaper than the UK)
– Sunshine: 2,775 hours (66% more sunshine than the UK)
Greece is renowned for its Mediterranean climate, historic sites, and affordable cost of living. Retirees are drawn to its laid-back lifestyle, beautiful islands, and welcoming local communities. The cost of housing and dining is significantly lower than in the UK, and the country’s abundant sunshine only adds to its appeal.
10. Canada
– Average monthly searches: 140 (YoY change +55%)
– Cost of living:
Meal for 2 at a mid-range restaurant: £57.09 (5% cheaper than the UK)
Domestic Beer (0.5 litre draught) – in restaurant: £4.57 (2% more expensive than the UK)
Housing: Rent for a 3-bedroom apartment in the city centre: £1,738.70 (2% cheaper than the UK)
Utilities: Basic utilities for an 85m² apartment: £118.22 (52% cheaper than the UK)
– Sunshine: 2,085 hours (24% more sunshine than the UK)
Canada is known for its high quality of life and beautiful landscapes. While the cost of living can be higher in major cities, the country offers a safe and stable environment for retirees. Canada’s outdoor lifestyle, friendly communities, and English-speaking environment are major draws, particularly for those seeking an active and fulfilling retirement.
Retirees look to enjoy the sun, whilst making the most of their savings
The findings demonstrate that retiring abroad can offer significant financial advantages. Countries like Thailand, Malaysia, and Portugal stand out for their low living costs, particularly in terms of housing, utilities, and dining. Additionally, the prospect of enjoying sunnier climates in destinations like Greece and Spain further enhances their appeal. With rising interest in international retirement, more UK residents are looking to make their retirement savings go further by moving abroad.
“The rise in searches for retirement abroad highlights a trend among UK residents seeking more affordable, higher-quality lifestyles,” said Nick Browne, Co-Founder of Xpatfone. “At Xpatfone, we offer affordable and reliable communication solutions tailored for expats, allowing retirees to keep a UK mobile phone number. This helps those wanting to stay connected with family and friends back home as well as those needing to maintain UK bank accounts, ensuring they can stay connected and manage their finances seamlessly while enjoying life abroad”
