MANILA: The Philippines is seeing an increase in the number of foreigners choosing it as a retirement destination, the Philippine Retirement Authority said on Thursday, after recent industry awards recognized its accessibility, affordable cost of living and healthcare quality.
The Philippines was named as the world’s top retirement destination in the Retirement Abroad Index 2026 published earlier this month, following the country’s recognition as Asia’s Best Retirement Destination last year by the travel media platform TripZilla.
The nation’s Special Resident Retiree’s Visa, or SRRV, was cited as one of the most accessible retirement programs among the countries assessed in the 2026 index.
“We target approximately 4,000 new retirees every year … This year our year-to-date figures show we’re 54 percent ahead of the same period last year,” the PRA’s General Manager Roberto Zozobrado told Arab News on Thursday.
“Retirees choose the Philippines because of our people … Coupled with the low cost of living in the Philippines, and the fact that we speak English, and the fact that we have beautiful, natural attractions. All that put together keeps us No. 1.”
The Retirement Abroad Index 2026, released by international health insurer Expatriate Group, evaluated 20 countries across various categories and showed the Philippines scoring highest in terms of affordable cost of living and visa accessibility, followed by expat community and integration and health insurance requirements.
Thailand came in second place, followed by Colombia, Portugal, South Africa, and Sri Lanka.
According to the index, a retired couple can live comfortably in the Philippines on roughly £750 to £1,000 ($988 to $1,318) a month, with costs generally lower outside Manila.
The index also considered long-established expat communities in popular destinations like Manila and Cebu, and English being an official language in the country alongside Filipino, meaning its widespread use gives the Philippines a major advantage for foreign retirees to integrate with local residents.
Today, the Philippines is home to about 62,000 foreign retirees who are residing in the country under the SRRV, a flagship initiative that targets foreign nationals above 40 years of age.
Chinese nationals top the Philippine list of foreign retirees, followed by South Korea, India, and the US, official data shows. Many of them live in the Manila capital region, the region of Central Luzon, as well as the Central Visayas region, where the trendy beach destination of Cebu is located.
Tourism officials are now working to attract more retirees from Europe, Australia and Canada, as they bank on Filipinos’ “welcoming attitude,” which has also been cited as a top reason for foreign retirees choosing the Philippines.
“The PRA has been mandated by the government to make the Philippines a ‘haven’ for foreign retirees,” Zozobrado said. “Keeping our country high on the list of the world’s retirement industry is (our) duty.”
