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Dumaguete, the capital of Negros Oriental province in Central Visayas, is among the best places to retire around the world, according to a report by ABS-CBN, quoting the 2014 Retire Overseas Index released by the Overseas Retirement Letter.
The study shows that Dumaguete was chosen due to its cheap cost of living, coming in second only to Nha Trang, Vietnam.
Based on expenses such as rent, gas, electricity, water, cable, groceries, internet, and entertainment, retirees living in Dumaguete will only need a monthly budget of US$910 or about PhP40,000. In Nha Trang, the monthly budget is US$680 or about PhP30,000.
Dumaguete is also among the best places for retirees and among most expat-friendly destinations because of its beautiful beaches and its large English-speaking community. “You could get by living in the Panama City Beaches in Panama; in George Town, Malaysia; Dumaguete, Philippines; and in Puerto Vallarta, Mexico, without speaking any of the local language,” the study said.
The 2014 Retire Overseas Index ranked the locations based on 12 factors, namely climate, existing expat community, cost of living, health care, crime, infrastructure, English spoken, real estate, entertainment, residency options, environmental conditions and taxes.
Topping the list as the best place in the world to retire this 2014 is Algarve, Portugal, which was described by the report as the province that “offers the best of Europe, including medieval towns, fishing villages, open-air markets, and local wine, plus some of Europe’s best sandy beaches.”
Aside from Dumaguete and Algarve, rounding out the list of 21 best places to retire overseas are Ambergris Caye, Belize; La Serena, Chile; Buenos Aires, Argentina; Medellin, Colombia; Cayo, Belize; Mendoza, Argentina; City Beaches, Panama; Puerto Vallarta, Mexico; Cuenca, Ecuador; Samana, Dominican Republic; Granada, Nicaragua; Abruzzo, Italy; Istria, Croatia; Pau, France; Barcelona, Spain; Chiang Mai, Thailand; Istanbul, Turkey; Nha Trang, Vietnam; and George Town, Malaysia.