Greece was crowned in 2026 as the best country in the world to live and retire, according to the Global Retirement Index, the annual ranking published by the specialized outlet International Living. For the first time, the Hellenic country surpassed destinations historically favored by international retirees such as Portugal, Spain, and Panama, establishing itself as the most attractive option for those seeking quality of life, a favorable climate, and economic stability after retirement.
The Global Retirement Index evaluates dozens of countries across different regions of the world based on criteria such as cost of living, healthcare system, climate, housing options, visas, ease of integration, and expatriate experience.
The methodology combines objective data analysis with surveys conducted among foreign residents, allowing the ranking to measure not only figures, but also the everyday experience of those already living in these destinations.
The reasons why Greece was chosen as the Best Country in the World to Live and Retire
One of the main reasons that propelled Greece to the top of the ranking is its balanced cost of living, especially when compared to other traditional European retirement destinations. According to recent data from independent cost-of-living platforms, the average monthly cost of living for one person in Greece is around US$1,237, compared to approximately US$1,583 in Spain and US$1,424 in Portugal, making Greece more affordable than these two key competitors.
When it comes to rent, a one-bedroom apartment in Greece averages about US$594 per month, compared to US$900 in Spain and around US$856 in Portugal, representing a tangible advantage for retirees on more limited budgets.
That said, costs may vary by category: While food expenses in Greece can be slightly higher than in Portugal, housing and transportation costs tend to be lower.
Added to this is a modern and accessible healthcare system in cities such as Athens and Thessaloniki, a wide range of housing options — from urban apartments to homes on Mediterranean islands — and relatively open migration programs for retirees, which make permanent residency easier to obtain.
Moreover, Greece’s Mediterranean climate, with more than 250 days of sunshine per year, encourages an active and healthy lifestyle, another key criterion in the ranking.
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Panama, the best country in Latin America to live and retire
While Greece leads the global ranking, Panama was chosen in 2026 as the best country in Latin America to live and retire, ranking fourth worldwide. The Central American nation has positioned itself for years as one of the top retirement destinations, thanks to a set of benefits specifically designed for foreign pensioners.
One of its main attractions is the retiree benefits program, considered one of the most generous in the world. It includes discounts on public transportation, medical care, restaurants, cultural activities, entertainment, and even domestic and international flights.
The moderate cost of living also works in Panama’s favor. While Panama City can be more expensive, regions such as Boquete or Chiriqui offer a quieter and more affordable lifestyle, with lower monthly costs for everyday expenses and housing compared to the capital. The country also has an accessible health care system, with modern hospitals in the capital and reasonably priced private clinics in other areas.
Ease of migration, a warm and varied climate, and its role as a regional air hub make Panama a strategic option for those who wish to maintain frequent international connections.
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Colombia remains in the top five of the ranking
In the 2026 edition of the Global Retirement Index, Colombia ranks fifth, standing out for its vibrant culture, geographic diversity, and affordable prices. Cities such as Medellin, Pereira, and Santa Marta continue to attract foreign retirees, although the ranking points to security concerns in some regions and bureaucratic procedures as ongoing challenges.
The report confirms that the search for a better place to live and retire is no longer limited to economic criteria alone, but also includes well-being, social integration, and overall quality of life. In this context, Greece positions itself as the most complete destination globally, setting a new trend on the international retirement map.
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