Seven Latin American countries, 12 European nations and two first-time entries make the list
Forbes placed seven Latin American countries on its 2026 ranking of the best places for Americans to retire abroad: Argentina, Belize, Colombia, Costa Rica, Mexico, Panama and Uruguay. The annual list spans 96 destinations across 24 countries, including 12 European nations, Canada and several Asian destinations.
Argentina’s living costs run roughly half of U.S. levels, Forbes said, and the country offers a retirement visa to applicants showing at least $24,000 in annual income. The magazine recommended Buenos Aires, Córdoba, Mendoza and Rosario. Colombia’s costs are more than 50 percent below U.S. levels, and Forbes gave its healthcare system high marks while noting crime concerns in some areas; it recommended Bogotá, Medellín, Cartagena and Pereira.
Panama’s cost of living is about one-third lower, the magazine reported, and the country uses the U.S. dollar as its official currency, offers what Forbes described as high-quality healthcare and operates one of the region’s most retiree-friendly residency programs. Costa Rica remained one of the best-rated destinations, Forbes said, citing its biodiversity, political stability, public healthcare system and relatively accessible residency options. Retiree residents can join the country’s public health insurance program after becoming residents.
Uruguay’s living costs are roughly 40 percent below U.S. levels, Forbes reported, and the country earned recognition for its democratic stability, beaches and healthcare system, with a relatively straightforward path to permanent residency for retirees. Forbes highlighted Mexico for its proximity to the United States, lower housing costs and affordable healthcare, noting that many retirees can travel back to use Medicare coverage when necessary, and recommended Mérida, Oaxaca City, Puerto Vallarta and San Miguel de Allende. Belize, the only English-speaking country in Central America, earned a place for its proximity, outdoor lifestyle and Qualified Retirement Program, though Forbes cautioned that access to advanced healthcare remains limited there.
Forbes said it evaluated cost of living, healthcare, taxes, residency requirements, crime, climate risk and accessibility to the United States when assembling the ranking.
The magazine removed Bordeaux, France, and several Spanish destinations, including the Costa del Sol, because of wildfire concerns. It also excluded the Philippines and Indonesia from the ranking, citing their high exposure to natural disasters, and included Mauritius and Vietnam for the first time.
The 12 European nations on the list are Albania, Austria, Cyprus, France, Greece, Ireland, Italy, Malta, Montenegro, Portugal, Slovenia and Spain. Canada and several Asian destinations also appear.
Forbes cited official data showing about 712,000 Americans were receiving Social Security benefits abroad at the end of 2024, a 20 percent increase over the previous 13 years, and surveys indicating growing interest in retiring overseas.
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.