More Brits are considering spending their retirement years abroad, with a significant 30% increase in Google searches since 2023.
The trend suggests that warmer climates and lower living costs are becoming increasingly appealing to those approaching retirement. In July 2024 alone, there were 6,110 searches for “retire to [destination]”, compared to 4,700 in July 2023, highlighting a shift in how people are planning their future.
Thailand has now emerged as the top choice for British retirees, surpassing traditional favourites like Spain and Portugal. According to data from Xpatfone, a leading provider of virtual UK mobile numbers for expats, Thailand saw a 50% year-on-year increase in searches for retirement, sharing the top spot with Spain, both receiving an average of 590 searches per month.
Thailand’s appeal is largely due to its affordable cost of living, tropical climate, and the unique blend of bustling cities and serene beach towns. With expenses such as housing, food, and utilities significantly cheaper than in the UK, it’s easy to see why more retirees are looking eastward. For example, renting a three-bedroom apartment in the city centre of Thailand costs on average £853.32 – 52% less than in the UK.
Spain, another favourite, continues to attract with its sunny weather, rich culture, and established expat communities. While slightly more expensive than Thailand, Spain still offers a cost of living that is generally lower than the UK, making it a perennial choice for those seeking a warmer, more affordable retirement.
Portugal, known for its beautiful coastline and mild climate, remains steady in popularity, with no change in the volume of searches from last year. The country offers a high quality of life, and despite rising interest in other destinations, it remains a solid option for those looking to retire abroad.
New Zealand also saw a notable increase in interest, with a 53% year-on-year growth in searches. Known for its stunning natural landscapes and outdoor lifestyle, New Zealand offers a more relaxed pace of life with the added benefit of being an English-speaking country, which appeals to many UK retirees.
Australia and France round out the top six destinations, each offering their own unique benefits, from Australia’s modern infrastructure and healthcare system to France’s cultural richness and slower pace of life.
Nick Browne, Co-Founder of Xpatfone, commented on the findings: “The rise in searches for retirement abroad highlights a trend among UK residents seeking more affordable, higher-quality lifestyles. At Xpatfone, we offer communication solutions tailored for expats, ensuring they can stay connected with family and friends back home while enjoying their new lives abroad.”
For many, retiring abroad is not just about the financial benefits; it’s also about the lifestyle. Countries like Greece and Malaysia are becoming increasingly popular for their warm climates, affordable living costs, and welcoming communities. As more Brits look to make their retirement savings stretch further, it’s likely that the trend towards international retirement will continue to grow.
