Beachgoers sunbathe in Mar del Plata, Argentina, in January 2025. File Photo by Vicente Robles/EPA
Aug. 3 (UPI) — Seven Latin American countries appear on Forbes’ list of the best places for Americans to retire abroad in 2026, as rising living costs and political polarization continue to push senior U.S. residents to consider relocating overseas.
The annual ranking, published Friday, identifies 96 retirement destinations across 24 countries, evaluating factors that include cost of living, healthcare, taxes, residency requirements, crime, climate risk and accessibility to the United States.
According to Forbes, more Americans are looking beyond U.S. borders in search of a lower-cost lifestyle. The magazine cited official data showing that about 712,000 Americans were receiving Social Security benefits abroad at the end of 2024, a 20% increase over the previous 13 years, while surveys indicate growing interest in retiring overseas.
Latin American countries in the rankings are Argentina, Belize, Colombia, Costa Rica, Mexico, Panama and Uruguay.
Argentina was cited for offering living costs roughly half those of the United States, relatively affordable healthcare and a retirement visa available to applicants who can demonstrate at least $24,000 in annual income.
Forbes recommended Buenos Aires, Córdoba, Mendoza and Rosario as the country’s top retirement destinations.
Belize, the only English-speaking country in Central America, was recognized for its proximity to the United States, outdoor lifestyle and relatively simple residency process through its Qualified Retirement Program, although Forbes cautioned that access to advanced healthcare remains limited.
Colombia received high marks for its healthcare system, warm climate and living costs that are more than 50% below U.S. levels. The publication recommended Bogotá, Medellín, Cartagena and Pereira, while noting that crime remains a concern in some areas.
Costa Rica remained one of the best-rated retirement destinations because of its biodiversity, political stability, public healthcare system and relatively accessible residency options.
Forbes said retirees can join the country’s public health insurance program after becoming residents.
Mexico received praise for its proximity to the United States, lower housing costs and affordable healthcare, allowing many retirees to travel back to use Medicare coverage when necessary. Forbes highlighted Mérida, Oaxaca City, Puerto Vallarta and San Miguel de Allende among its recommended locations.
Panama stood out for using the U.S. dollar as its official currency, offering high-quality healthcare and operating one of the region’s most retiree-friendly residency programs. Forbes said the country’s cost of living is roughly one-third lower than in the United States.
Uruguay completed the Latin American list, earning recognition for its democratic stability, beaches and healthcare system. Forbes estimated living costs are about 40% lower than in the United States and said the country offers a relatively straightforward path to permanent residency for retirees.
Outside Latin America, the list included 12 European countries: Albania, Austria, Cyprus, France, Greece, Ireland, Italy, Malta, Montenegro, Portugal, Slovenia and Spain. Canada, Malaysia, Mauritius, Thailand and Vietnam completed the ranking, with Mauritius and Vietnam appearing for the first time.
Forbes said its selections also considered climate change and natural hazard risks. The publication removed Bordeaux, France, and several Spanish destinations, including the Costa del Sol, because of wildfire concerns, while the Philippines and Indonesia were excluded because of their high exposure to natural disasters.
Despite political tensions between Washington and several foreign governments, Forbes said most destinations continue to welcome American retirees, viewing them as an economic benefit rather than through the lens of U.S. immigration or trade policies.
