Popular Retirement locations for American Expats

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Popular Retirement locations for American Expats

Since the onset of the global economic crisis in 2007 thousands of people have moved abroad in the hopes of enjoying a more secure financial situation and better quality of life.

While high unemployment and soaring living costs have been a major problem in parts of Europe, people living in the world’s largest economy have also been feeling the pinch.

Consequently, an increasing number of retirement-age Americans are opting to spend their twilight years overseas. But what nations are proving most attractive?

According to a report compiled by CNBC there are four main locations seeing an increase in the number of US expats.

UK retirees might head to France, Spain or Australia, but in the case of US citizens those golden years are more likely to be passed in Mexico, Panama, Costa Rica and Ecuador.

Here we see how the costs of living in these nations compare with the US.

According to statistics calculator Numbeo, in the USA a meal in a basic restaurant costs $10.00, a loaf of bread costs $2.20, basic utilities cost $160.00 per month and monthly rent on a one bedroom city-based flat is $942.25

Mexico

Of course a huge part of Mexico’s appeal as a retirement location is its nearness to the US. American expats are able to visit family and friends back home with relative ease while making the most of the South American nation’s distinctive culture and expansive local cuisine. According to statistics calculator Numbeo, in Mexico a meal in a basic restaurant costs $4.59, a loaf of bread costs $1.68, basic utilities cost $65.05 per month and monthly rent on a one bedroom city-based flat is $267.85

Panama

While accommodation in Panama might be fairly pricey (more so when you look at high-end apartments) the cost of living is low and the region boasts a temperate climate as well as a good contrast between rural and urban spaces. According to statistics calculator Numbeo, in Panama a meal in a basic restaurant costs $5.00, a loaf of bread costs $1.43, basic utilities cost $63.75 per month and monthly rent on a one bedroom city-based flat is $800.00

Costa Rica

As well playing host to lucrative investment regimes and offering attractive residency packages Costa Rica is known for its safe, inclusive environment and high standard of living. According to statistics calculator Numbeo, in Costa Rica a meal in a basic restaurant costs $7.00, a loaf of bread costs $1.79, basic utilities cost $56.41 per month and monthly rent on a one bedroom city-based flat is $450.00

Ecuador

In 2013’s Global Retirement Index by International Living Ecuador stole the number one spot thanks to the ease with which foreign residents are able to buy local property. The beautiful weather, stunning landscape and welcoming populace were also big points in Ecuador’s favour. According to statistics calculator Numbeo, in Ecuador a meal in a basic restaurant costs $3.00, a loaf of bread costs $1.25, basic utilities cost $30.60 per month and monthly rent on a one bedroom city-based flat is $400.00

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