Uruguay is among the ten best countries to live in after retirement

RIO DE JANEIRO, BRAZIL – The U.S. tourism magazine “International Living” published, as it does every year, the Annual Global Retirement Index (AGRI) 2022. It is an index that determines the best destinations in the world for those Americans who decide to move to another country after retirement or move there for a few months of the year. It is a “selection of outstanding destinations where you can live a healthier and happier life, spend a lot less money and get a lot more”, according to their website.

The survey is based on opinions and experiences, compiled for International Living by correspondents and people who decided to move to different destinations after their retirement. The information is then broken down into different categories, for which each country receives a score that is added to the destination’s total and ordered in the ranking: accommodation, benefits, visas, and residency, fit in and entertainment; development, climate, health, government, opportunity and cost of living.

“Uruguay obtained in this edition 74.6 points. This implies that, for American “VIP retirees” (that is, those who can choose a quiet, fun, safe, and accessible destination to enjoy a pleasant retirement), Uruguay is the 10th most appropriate country in the world to make this plan a reality”, says Rosendo Fraga, director of the consulting firm Nueva Mayoría Uruguay, in his analysis. He also indicates that Uruguay has evolved favorably since 2017, when it obtained the 23rd position.

“I moved to Uruguay 15 years ago. Among the things I appreciate is its egalitarian culture. Uruguay is the most democratic country in Latin America. And in relative terms, it boasts the largest middle class in the Western Hemisphere,” writes David Hammond in the ranking entry for Uruguay. He highlights the social security system and the health care system, the low probability of natural disasters, and the possibilities for access to public university education. “The principle of treating others with respect is alive and well,” he says.

He also highlights the popularity of neighborhoods in Montevideo with diverse gastronomic and cultural proposals. He also refers to the possibility of living in seaside resorts such as Punta del Este, Piriápolis, Atlántida, or La Paloma. For those who prefer living close to the countryside, he recommends “settling in a small town in the interior, where you can live close to rural life without the cost of owning your own farm” or being interested in farms on the outskirts of cities.

After Uruguay, the ranking is completed by Spain, Malta, France, Ecuador, Colombia, Portugal, Mexico, Costa Rica, and Panama, positioned as the best destination to spend retirement.

According to Fraga, Uruguay’s strong points in this edition were its development (88 points), government (84 points), and cost of living (79 points).

The director of Nueva Mayoría Uruguay explains that the first category measures a country’s connectivity, its internet service, the quality of its road infrastructure, the state of its public transport network, and the robustness of its electricity supply, among other variables, and that only France obtained a better degree of development among the top 10 than Uruguay. Meanwhile, the governance category (which includes among its variables the response to covid-19) evaluates the respect for personal freedom, the efficiency of the banking system, and the existence of a stable and secure environment in which to enjoy retirement in each country.

The cost of living variable is calculated by drawing up a comprehensive monthly budget in dollars. “Uruguay is the third most expensive country among the top 10 in this regard, but it is cheaper than Malta (75 points) and France (79). Despite this, Uruguay managed to improve one point in this category compared to 2021,” Fraga indicates.

What were the categories in which Uruguay scored the lowest? Climate (58 points), accommodation (66 points), and opportunity (69 points).

The analyst indicates that it is the country with the least benign climate of the ten due to the relative harshness of its winters. In the housing category, the value of real estate, the facilities of each country when buying or renting a house, the annual property tax, and whether there are restrictions for foreigners when buying real estate are calculated. “Among the first 10, only in France is it more complicated to rent or buy a house (65 points) than in Uruguay”, says Fraga.

On the other hand, the opportunity category measures the possibility of working and doing business despite being retired through government support for small businesses, online work facilities, or the economy’s strength. “Among the top 10, only Spain scored lower: 66 points,” the analyst points out. In any case, he indicates that Uruguay does not present variations in these three categories compared to its 2021 scores.

“While Uruguay is beautiful, it’s not close. A nonstop flight from Miami to Montevideo is nine and a half hours. But for me and many others, it’s worth it,” Hammond concludes about the country where he decided to live 15 years ago.