The Philippines comprises over 7,000 islands and offers its residents endless beaches and crystal clear Pacific Ocean waters. The country has a warm year-round climate, a low cost of living, some of the best medical care in Southeast Asia and provides easy access to other destinations in Asia. Of course, as with any developing country, it is important to understand what specifically makes it a desirable retirement location for Americans. The following are the top six reasons why Americans retire in the Philippines.
1. Cost of Living
The cost of living is extremely low in the Philippines. For roughly $1,000 a month, it is possible for retirees to live comfortably in the country. For just $1,200, it is possible to live a life of comparative luxury. For around $200 a month, retirees can rent a great one-bedroom apartment; if purchasing a home instead of renting, luxury homes can be purchased for roughly $250,000 or less.
Maintenance and entertainment expenses are also low when compared to the cost of living in the United States. A plumber, for example, costs about 400 pesos, or less than $10. A nice dinner for two costs about 1,000 pesos, or roughly $25.
2. Affordable Health Care Coverage and Good Health Care Facilities
Health care coverage in the Philippines is very affordable for retirees. The normal cost of seeing an English-speaking doctor is around 300 pesos, the equivalent of $7. For more complicated medical procedures such as X-rays, the cost to take and read the images is around 800 pesos, or about $20.
The medical facilities in the Philippines are comparable to the medical facilities in the U.S. For example, Asian Hospital has one of the best heart specialists in Southeast Asia, who splits time between the Philippines and Washington, D.C. The country also has the Philippine Heart Center, a facility that offers a range or specialists to retirees and residents.
Filipino doctors are well-known for training abroad and are normally affiliated with international medical associations. The bedside manner and competence of Filipino nurses is sought all over the world, and pharmacies are easily accessible to those in need of medication.
3. The Diversity of Food
The Philippines offers a great diversity of gastronomy. Local Filipino food has blended Spanish and Chinese influences to create a unique array of food options. Additionally, as expatriates flock to the Philippines, the availability of American, Japanese, Indian, Arabic and Southeast Asian food has increased.
4. Modern Conveniences
The Philippines offers retirees all the modern conveniences of an American lifestyle in a tropical paradise. With large malls, modern transportation options, Hollywood movies and cable TV, a retiree is able to maintain a first-class lifestyle similar to one in America.
Up until recently, the country allowed internet service providers to set their own speeds, reducing the potential of a high-speed connection. In response to reform requests, the Filipino government has set a minimum speed requirement of 256 kilobits per second (kbps), giving signs that the country’s internet speed will soon be on par with its other modern conveniences. Currently, however, it ranks at the bottom of Asian countries when it comes to connection speeds.
5. A Plethora of Activities
The country is known for its tropical beaches, diving locations and amazing views, and it entices retirees to live active and outdoor lifestyles. From the sands of famous Boracay Island to the hills of Tagaytay, the Philippines has thousands of islands that offer unique outdoor benefits.
The Filipino weather, which is made up of a long dry season followed by a long rainy season, is conducive to outdoor activities. Even during the rainy season, the temperature is fair throughout the entire year. If the weather gets too rainy for hiking and beach lounging, the country offers great wellness centers that give massages and promote relaxation.
6. Low Language Barrier
For Americans looking to retire to this country, English is one of the Philippines’ official languages. Many, if not all, Filipinos are fluent in English, making a transition to this country an easy one.
Source: Evan Tarver | Investopedia.com
