Portugal among the 10 ‘cheapest’ countries to live
Forbes magazine chose Portugal as the first of the 10 “cheapest” countries to live, especially for US citizens who want to leave their jobs and change their lives. According to the American business magazine, in these countries the cost of living “is so cheap that you won't even need to work”.
The magazine accentuates that this list was made thinking about those who “are looking for a better, more accessible life or just a way to escape from it all – the frenetic pace of life, violence, politics, division”. It should be noted that for the preparation of the list, the magazine is based on data from International Living, which every year publishes which are the best countries to take advantage of the reform, although the list is not limited exclusively to these cases.
The executive editor of International Living - Jennifer Stevens, underlines that this year the country was elected the best country to live in, “partly because of the strength of the American dollar these days”, and that “Europe it is effectively for sale if you buy things with dollars”. In addition, she points out that “visa options in Portugal make it relatively easy to stay there for a long period of time”.
“The cost of living is low compared to the US – a couple can comfortably cover expenses (including rent and everything else) with around $2,800 [2,654 euros] a month,” says Stevens. “A single person could live well on around $2,000 [1,895 euros] a month all-inclusive (or less in rural areas),” she adds.
Some of the areas that saw Portugal score most highly were healthcare (92), development/governance (94) and visas/benefits (90), the area where Portugal scored lowest was in housing (74). Overall, the country finished with an average score of 87.43 on the index which took into account housing, cost of living, visas, benefits, affinity rating, development / governance, climate, and healthcare, finishing above Mexico in second place and Panama in third. Spain was ranked a low sixth, followed by Greece, France, and Italy.
The country has been elected the best country globally to change your life. “It's so cheap you won't even have to work”
Why is Portugal one of the most popular retirement destinations on the planet?
Terry Coles, writing for International Living says: “Despite its compact size, the country offers something for everyone” and outlines the varied landscapes and options from country to coast, rural to city and traditional to contemporary.
The people of Portugal and high English literacy was also key in the rankings: “The people of Portugal are some of the kindest and most genuine in the world, and they welcome foreigners with open arms and double-cheeked kisses. Since English is taught in the schools many of the locals, especially the younger generation, have a good grasp of the language”.
Infrastructure is on par with the U.S. and Canada with fresh drinkable water from the tap, reliable electricity, and high-speed fibre internet making it easy to work from home or connect with the rest of the world.
The safety of Portugal, which is ranked 6th in the Global Peace Index is highlighted in the report which also details the high-quality healthcare, both public and private, fresh drinkable water, reliable electricity and high-speed internet, easy to-navigate roads, and large expat community of over 500,000.
For those unaware, the 2023 Annual Global Retirement Index compiles information from a network of editors, correspondents, and contributors from across the globe to put together the ranking.
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