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Many Brits choose Spain and Portugal but another destination has topped a retirement ranking thanks to its affordable lifestyle, Golden Visa and Mediterranean climate

The world’s top retirement destination for 2026 has been unveiled, and it might not be where you’d expect. While many Brits dream of retiring to the sun-soaked towns of Spain or Portugal, a new contender has emerged.

The UK’s often dreary weather leaves many yearning for a change of scenery as they enter their golden years. But choosing where to spend your retirement isn’t just about finding a sunny spot – you also need to consider factors like cost of living, healthcare, housing, visas, climate and how easy it is to settle in.

Every year, International Living’s 2026 Annual Global Retirement Index takes all these factors into account to reveal the best place in the world to retire. And this year, a country has topped the list for the first time ever.

Greece has been crowned the ultimate retirement destination thanks to its affordable lifestyle, private healthcare, accessible visa options and enviable Mediterranean climate.

“Greece’s rise to number one marks a shift in Europe’s retirement landscape,” said Jennifer Stevens, Executive Editor of International Living. “For years, Portugal and Spain led the way, but recent visa changes and rising costs have retirees looking elsewhere.”, reports the Express.

“Greece now offers what many are seeking-a beautiful, welcoming, and affordable European base with accessible residency options and a lifestyle that feels rich in every sense.”

The Mediterranean nation scored highly across climate, healthcare and housing categories – essential factors for those seeking to settle abroad.

Greece’s Golden Visa scheme, which offers residency through property investment, stands out as one of Europe’s most straightforward options, especially following Portugal’s recent policy changes.

International Living’s Global Diversification Expert Ted Baumann said: “All in all, when it comes to Golden Visa options, I’d say Greece is more than the new Portugal… it may be even better.”

The publication’s Greece correspondent Leena Horner relocated to Corfu four years ago with her husband. The couple maintain a comfortable lifestyle on roughly €2,900-€3,000 monthly, approximately £2,600.

Coastal properties typically rent for €600 to €1,000 per month, whilst a meal for two with wine ranges from €30-€50, maxing out at around £44.

Reflecting on her relocation, Leena said: “Greece quietly transforms the way you live. It’s not just one thing; it’s the climate, the siga siga attitude of taking life slowly, the vibrant community, and the daily connection with nature.”

Greece features over 8,000 miles of coastline and enjoys more than 300 days of sunshine annually. European locations have dominated the 2026 rankings, with Greece, Portugal, Italy, France, and Spain all securing spots in the Top 10.

The Top 10 Retirement Destinations for 2026

1. Greece
2. Panama
3. Costa Rica
4. Portugal
5. Mexico
6. Italy
7. France
8. Spain
9. Thailand
10. Malaysia

The Global Retirement Report has named the best country for pensioners in 2025, with Europe coming first in quality of life and healthcare

New research from The Global Retirement Report has unveiled the top destination for pensioners in 2025. The comprehensive study assessed 44 nations across the globe that provide passive income visas or retirement residence permits, examining key elements including economics, taxation, quality of life, safety and integration.

Whilst European nations dominated in quality of life and healthcare provision, American countries proved strongest for tax efficiency. Meanwhile, Asian destinations earned praise for their warm climates and budget-friendly cost of living.

Patricia Casaburi, CEO at Global Citizen Solutions, commented: “This year’s ranking is led by Portugal, Mauritius, Spain, Uruguay, and Austria, countries that excel across our six sub-indexes and set the gold standard for international retirement migration”, reports the Express.

10. Chile

Chile has incredible natural beauty and an immersive culture, which makes it an attractive option for many pensioners. The country is also considered one of the safest in South America and has low levels of corruption.

9. Latvia

Latvia is an increasingly popular destination for British expats due to its affordable cost of living and healthcare system. The country offers beautiful coastal towns, historic cities and gorgeous natural landscapes.

8. Malta

Retiring in Malta is a popular choice for those looking for a peaceful and beautiful place to enjoy their retirement. Malta offers cheap property prices, friendly locals and a warm climate.

7. Slovenia

According to International Living, Slovenia is a hidden gem in Europe. It offers a fantastic balance of affordable living, stunning natural beauty, rich culture, and welcoming people. The country has “everything an expat could want at a price that won’t break the bank”.

6. Italy

Italy is also a popular country for British expats, with warm weather, delicious food, and excellent healthcare. Pensioners looking for a slower pace of life will find it in some of Italy’s most stunning regions, which offer a relaxed and balanced way of life.

5. Austria

Experts at Expatica explained: “With its high quality of life, low crime rate, and excellent social security system, it’s hardly surprising that nearly a third of expats living in Austria consider staying there for life and spending their retirement there. All in all, for those retiring in Austria, life is pretty sweet.”

4. Uruguay

Uruguay has a wonderful culture, beautiful beaches, an affordable cost of living, and a subtropical climate, making it an attractive destination for thousands of expats who choose to retire there every year.

3. Spain

Spain often ranks among the top five international retirement spots. Experts at Immigrantinvest explained: “Its warm climate, rich culture, affordable cost of living, and high-quality healthcare system make Spain an attractive option for retirees.”

2. Mauritius

According to the Global Retirement Report, Mauritius is the second-best country to retire abroad, with a score of 89.24.

Dr Laura Madrid Sartoretto, Research Lead at GCS’ Global Intelligence Unit, said: “Mauritius has a very reliable procedure. It’s fast, transparent, and one of the countries that has the best options for tax optimisation. People who don’t want to have any fiscal risk when moving abroad with their pensions choose countries like Mauritius because it doesn’t have a worldwide tax system.”

1. Portugal

Portugal has been crowned the most attractive destination in the world for retirees, offering “high standards of living and quality healthcare with relatively low day-to-day expenses”.

Portugal has a pleasant climate, charming cities and idyllic rural and coastal scenery. Christina Hippisley, General Manager of the Portuguese Chamber of Commerce in the UK, said: “Portugal is an outstanding destination for retirees and well-deserving of being crowned the world’s top retirement location.”