The most affordable retirement destinations in the world revealed.

A report compiled by the Global Post has revealed the top ten best retirement destinations in the world for those who are seeking a high standard of living at an affordable price.

The report, which provides details of the best budget retirement locations, is based upon an analysis of the activities available in popular retirement destinations, the cost of maintaining a good standard of living and sustaining an “international lifestyle.” The report utilized a Cost of Living Index that was generated by the Economist Intelligence Unit, which analyzed the cost of living in a given country with the typical costs one would find living in New York City. The results of this were supplemented with the United Nations Human Development Index, which measures a country’s adult literacy, life expectancy and income levels.

Bulgaria, the only European destination to feature in the list of affordable destinations was cited as having “sandy beaches, snow-topped mountains, rich cultural heritage and cosmopolitan capital.” The report also commented that while Bulgaria’s location was within easy reach of other European destinations, the cost of living there was significantly lower, thus making it a more appealing retirement destination for expatriates.

In addition to the report in the Global Post, Bulgaria has made the list of top property destinations for 2010 a report issued an independent UK property agent, Property Venture. The company, which specializes in assisting buyers to purchase overseas property, commented on the attractiveness of the Bulgarian property market: “’with some of the major economies around the world struggling to shake off recession, investors might be wondering where to find an attractive overseas property market, or whether such a thing still exists at all.”

For those looking for retirement destinations outside the European Union, it appears that South American countries may be the place to go. Latin American destinations dominated the list of affordable retirement destinations with six such countries appearing: Argentina, Costa Rica, Ecuador, Mexico, Uruguay and Panama. However, expatriates who are considering relocating to these countries should be aware of the standard of medical facilities available, which may not be on a par with those on offer in more developed countries.

Outside Europe and South America– South Africa, Malaysia and Thailand also offer affordable retirement destinations. Cape Town featured as one of the best destinations to retire in, with Global Post citing the availability and quality of health care on offer as one of the main reasons for this: “High quality medical care is available in major cities. Less expensive private hospitals have made South Africa a destination for plastic surgery tourism.”

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