Many Americans are considering retirement in more far-flung places than their own country. Retiring abroad is becoming increasingly popular, because many countries can offer expats a more affordable cost of living, with all the benefits of cultural enrichment that living abroad offers.
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GOBankingRates sought to find the safest places for people to retire in Asia that also have affordable average monthly expenditures. To find these countries, we pulled data from the United Nations Pacific-Asia Region Group and GDP from WorldPopulationReview. We got cost of living figures from Numbeo, and the Global Peace Index from the Institute for Economics and Peace Global Peace Index 2022 Report. Countries needed to have a global peace index of under 2.0 to qualify.
Here are the 10 safest countries in Asia for retirees, where they can also retire for less than $2,000 per month.
10. Nepal
- Global peace index: 1.947
- Average monthly cost of living: $684
Nepal's cost of living index is a low 14.7, and its GDP is $39 trillion. Not only is it safe to retire here, it's incredibly affordable.
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9. Cyprus
- Global peace index: 1.903
- Average monthly cost of living: $1,964
Cyprus's cost of living index is not the lowest on this list, at 42.2, and its country GDP is $30.1 trillion. The monthly expenditures are on the higher side for this list, but it's a peaceful place to call home.
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8. Oman
- Global peace index: 1.889
- Average monthly cost of living: $1,513
Oman's cost of living index is a decently low 32.5, and its country GDP is $110.2 trillion. With monthly expenses at just over $1,500 and a global peace index well below 2.0, it's quite affordable and safe for retirees.
7. Cambodia
- Global peace index: 1.882
- Average monthly cost of living: $1,387
Cambodia's cost of living index is a low 29.8, and its GDP is also on the lower side, comparatively, at $30.2 trillion.
6. Jordan
- Global peace index: 1.849
- Average monthly cost of living: $1,331
Jordan's cost of living index is lower than Cambodia, at 28.6, but its country GDP is higher, at $50.5 trillion.
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5. Indonesia
- Global peace index: 1.800
- Average monthly cost of living: $940
Indonesia's cost of living index is tied for the lowest on the list with Mongolia, at 20.2, but its country GDP is the highest on the list, at $1.4 quadrillion.
4. Vietnam
- Global peace index: 1.786
- Average monthly cost of living: $1,117
Vietnam's cost of living index is a low 24, but its GDP is higher than most on the list, at $462.6 trillion.
3. Mongolia
- Global peace index: 1.775
- Average monthly cost of living: $940
Mongolia's cost of living index is tied for the lowest on the list with Indonesia, at 20.2, but its country GDP is the lowest on the list, at $21 trillion.
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2. Kuwait
- Global peace index: 1.739
- Average monthly cost of living: $1,741
Kuwait's cost of living index is not as low as some of the other countries on this list, at 37.4, but overall cost of living combined with its global peace index score make it a great place to retire.
1. Malaysia
- Global peace index: 1.471
- Average monthly cost of living: $1,066
Malaysia takes the No. 1 spot with a cost of living index that is 22.9, and a GDP of $481.9 trillion. With average monthly expenses at just over $1,000, it's an excellent place for retirees to consider.
Methodology: In order to find the safest places to retire in Asia, GOBankingRates started by using the United Nations Pacific-Asia Region Group to determine the countries that qualify. For each country GOBankingRates found [1] the GDP as sourced from WorldPopulationReview, [2] Cost of Living as sourced from Numbeo, and [3] Global Peace Index sourced from the Institute for Economics and Peace Global Peace Index 2022 Report. The cost of living was filtered for places costing $2000 and under per month on average. The list was then sorted from the safest to the least safe. All information is up-to-date as-of June 19th, 2023.
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This article originally appeared on GOBankingRates.com: 10 Safest Places To Retire in Asia for Less Than $2K a Month
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