The Philippines, long known as a vacation destination, is drawing attention as a retirement destination, thanks to its warm climate, English-speaking environment, long-term residency visas, and foreigner-friendly settlement infrastructure.
The Philippines was named the world's best retirement destination in the "Retirement Abroad Index 2026," recently released by the Expatriate Group, a global overseas medical insurance specialist.
The Philippines scored 78 out of 100, ranking first among the 20 countries surveyed. Thailand followed with 77 points, while Colombia scored 73, Portugal 71, and South Africa and Sri Lanka each scored 69 to round out the top five.
Monthly Living Costs of 1.4 to 1.9 Million Won Ease Retirees' Burden
The Philippines' appeal to prospective retirees stems from more than just low prices. Year-round warm weather, an English-speaking environment, a long-term residency visa system, and a foreigner-friendly culture combine to make it a country well-suited for settling down after retirement.
The biggest advantage cited is the lower cost of living. According to the Expatriate Group, a retired couple living in the Philippines can enjoy a relatively comfortable lifestyle on about 1.4 to 1.9 million won per month.
While the capital, Manila, has a higher cost of living than other areas, expanding the search to provincial cities and coastal areas such as Cebu, Bohol, Palawan, Clark, and Subic can further reduce costs. Another advantage is that long-term stays are possible at a relatively reasonable cost even in areas close to the sea.
For those in Korea worried about post-retirement living expenses, the Philippines is considered an attractive option. In particular, coastal cities allow residents to enjoy a resort-like living environment at relatively low costs, leading to growing demand from those considering long-term stays.
The Philippines' retirement visa system is also cited as a competitive advantage. The Special Resident Retiree's Visa (SRRV), operated by the Philippine Retirement Authority (PRA), is a leading long-term residency program for overseas retirees.
Those who meet certain requirements can stay in the Philippines for an extended period. Its relatively simple procedures and stable system operation are considered strengths. As many countries raise the barriers to retirement immigration, the Philippines is building its competitiveness by maintaining retiree-friendly policies.
Hospitals and Administration in English, Lowering Language Barriers
Compared with other Southeast Asian countries, the Philippines stands out for its English-speaking environment. As English is widely used as an official language, language barriers are relatively low in hospital care, daily life, and administrative tasks.
Given that retirees considering relocation abroad cite language as a major concern, this can be seen as a factor that lowers the barrier to entry in the settlement process.
The Philippines' characteristic friendly disposition, culture of hospitality, and foreign communities are also factors that aid settlement. In major areas such as Cebu, Clark, and Subic, communities of foreigners from various nationalities have formed, making it relatively easy to adapt to a new environment.
The Philippines has long been familiar to Koreans as a vacation destination represented by Boracay, Palawan, Cebu, and Bohol. More recently, it has been growing its presence beyond travel as a destination for long-term stays and retirement relocation.
Across the Philippines, infrastructure for foreign residents — including medical facilities, shopping malls, international schools, and golf courses — continues to expand. The year-round warm climate and diverse leisure activities are also cited as factors that enhance quality of life after retirement.
Dita Angara-Mathay, Secretary of the Philippine Department of Tourism and Chairperson of the Philippine Retirement Authority Board, said, "This award is the result of the Philippines' efforts to create a more welcoming travel and living environment for visitors and retirees of all ages." She added, "The Philippines offers not only beautiful natural surroundings but also a warm culture of hospitality, reasonable living costs, high-quality services, and vibrant local communities, making it an ideal place to start a new life after retirement."
The evaluation comprehensively reflected factors that affect retirement satisfaction, including the level of medical services, ease of obtaining visas, the health insurance system, cost of living, foreign communities, and the settlement environment.
