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Why is Spain such a popular retirement destination?

By August 14, 2017October 3rd, 2023FinGlobal

Why is Spain such a popular retirement destination?

August 14, 2017


International Living’s 2017 Best Retirement Destinations in the World list explores all aspects of life in different countries including cost of living, retiree benefits, climate, healthcare and much more. The list makes interesting reading, with Portugal and Spain featuring as the only two EU countries that make it into the top 10.  In this blog post we’re going to look at what makes it so attractive

Why people choose to retire in Spain

A large expat community

Birds of a feather flock together – and according to findings by the Office for National Statistics, there are 296 000 UK citizens living in Spain and the number of Britons living in Spain has doubled in the past 10 years. People enjoy moving to places where they know people and will feel comfortable and with such a large expat population, Spain is almost home-away-from-home for the citizens of the UK.

Low cost of living

When you are retired, you want to make sure you get value for your money. Spain provides some of the lowest-cost first-world living in Europe. Spain offers both low house prices, reasonable rentals and food and entertainment are also easily affordable. As with most countries, if you seek luxury goods and fine dining, your wallet will feel the pinch – but if you are prepared to eat and live like a local, you’ll get your money’s worth.

High standard of health-care

When you retire, your thoughts tend towards finding a country or city with good healthcare. Spain’s healthcare is of a high standard and combines both private and public facilities. If you are a resident in possession of a Spanish local security number, you’ll be entitled to receive free or low-cost healthcare. Each of Spain’s 17 regions is responsible for implementing and executing their own medical services – so it’s worth your while to do some research and find a region where you’re happy with the facilities and standards of healthcare you’ll receive.

Sunshine (almost) all the year through in southern Spain

Spain stretches from the Pyrenees Mountains, right down to the Strait of Gibraltar and this gives it a climate that ranges from cool and moist in the northwest all the way through to hot and dry in the south, with Southern Spain enjoying sun throughout the year. Combine the weather with the miles of beautiful beaches and it’s easy to see why people are spending their senior years in this idyllic region.

The laid back lifestyle

The siesta lifestyle is one that many expats enjoy – the long break in the day between 2pm and 5pm when most people sleep or return home for lunch. The pace of life is gentler in Spain, and Spaniards work on their own time – with hurry and stress playing a very small role in it. So if you’re planning on retiring in this calming country, don’t expect people to jump to your tune!

Spanish food

Spain’s food is made for sharing – with tapas being enjoyed everywhere. Spain is a foodies dream and whatever Spanish region you find yourself in, there are plenty of new tastes to explore.

International Living’s 2017 top-10 retirement destinations

  1. Mexico
  2. Panama
  3. Ecuador
  4. Costa Rica
  5. Columbia
  6. Malaysia
  7. Spain
  8. Nicaragua
  9. Portugal
  10. Malta

Find financial freedom when you retire abroad

One of FinGlobal’s most relied upon services is assisting South Africans living abroad, who have financially emigrated, turn their retirement annuities into cash. This can happen even prior to the recognised retirement age of 55 because of changes to the tax legislation that came into effect in 2008. What’s even more advantageous is that the money can be used for anything – an exotic holiday, home remodelling or you can re-invest it, the choice is yours.

For more information about our services, contact us today.
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