Vietnam is the second cheapest country to retire to this year, according to the latest Annual Global Retirement Index.

Da Nang in Vietnam (Photo: International Living)

Published by Ireland’s InternationalLiving.com, the Index lists the best retirement havens by scoring countries in 13 categories, including buying and investing, renting, benefits and discounts, visas and residence, cost of living, fitting in, entertainment and amenities, healthcare, healthy lifestyle, development, climate, opportunity, and governance.

The main goal of the Index is to help retirees find locations where their dollar goes further - where they can get the best value for money in terms of cost of living, housing, and overall quality of life.

While Vietnam is only ranked 19th among 25 countries in the index overall, it is the second best in terms of cost of living. “Vietnam is a fascinating and vibrant destination, rich in natural beauty, steeped in history and brimming with opportunity,” according to InternationalLiving.com. “Whether you want to live in the heart of the city, nestle among pine-forested mountains, or overlook a sun-washed beach, you’ll find modern, high-quality housing for low prices.”

Ho Chi Minh City and Hanoi are the most expensive cities in the country, while a life of retirement in other tourism-centric cities like Da Nang, Hoi An, Nha Trang, and Vung Tau will be much easier on the wallet, it suggested.

More and more Americans are retiring abroad. The Social Security Administration is now paying benefits to more than half a million Americans living outside the US - a number that has been steadily rising. One big reason for that rise is that many Americans have not saved enough money to live in retirement the way they would want to in the US once they are on Social Security, according to an article published by Investopedia, part of the Dotdash publishing family, on January 29.

If tourists have traveled to Vietnam in recent years and found it an appealing place, they might want to consider actually moving there when they retire. Actually, even those who have never been there might think about choosing it for a new home, the article noted. Vietnam is famous for its beautiful beaches and, surprisingly enough, for its friendliness to Americans.

Since 1979, InternationalLiving.com has been the leading authority for anyone looking for global retirement or relocation opportunities. Through its monthly magazine and related e-letters, extensive website, podcasts, online bookstore, and events held around the world, it provides information and services to help its readers live better, travel farther, have more fun, save more money, and find better business opportunities when they expand their world beyond their own shores. InternationalLiving.com has more than 200 correspondents traveling the globe, investigating the best opportunities for travel, retirement, real estate, and investment.

VN Economic Times