Greece has ranked among the top 10 countries for a comfortable retirement, according to the latest report. Such data was published by the American information and analytical company US News & World Report.
This comprehensive study analyzed 87 countries, evaluating key factors that play a significant role in determining retirement suitability. Switzerland emerged as the leader, despite its higher cost of living, due to its economic stability, safety, and streamlined bureaucracy. Portugal and Australia took the second and third positions, with New Zealand and Spain making up the top five. Denmark closes the top ten.
Greece’s notable ninth-place ranking is particularly impressive, surpassing not only many European countries but also stronger economies like Japan and the United States.
The 2023 Best Countries for a Comfortable Retirement rankings, which complement the broader 2023 Best Countries rankings by U.S. News, are derived from a global survey involving over 17,000 respondents. These rankings are based on the perceptions of around 6,100 individuals in their mid-40s and older. They assessed various countries based on seven specific attributes: affordability, favorable tax environment, friendliness, desirability as a place to live, pleasant climate, respect for property rights, and a well-developed public health system.
Results of Another Rating
This is not the first time Greece tops such ratings. Earlier this year, the 2023 Annual Global Retirement Index has released a list assessing many various factors such as healthcare, cost of living, visas, housing and climate to determine the best places to retire.
Greece was ranked the seventh best country to retire in 2023. Greece’s appeal is obvious due to its stunning scenery, affordable cost of living that is about 20 percent cheaper than the United States, and famous cuisine known throughout the world. Additionally, Greek culture places a lot of emphasis on food, making it a delightful destination for retirees.
The problem of aging in Greece
As for Greece itself, the country’s population has been steadily declining since 2011. According to Eurostat, it is expected to have the oldest population in the EU by 2030, surpassing Italy. With half the population already over 50, it is estimated that Greece could lose almost a million people by 2050 and two million by 2070. This is consistent with the 3.5% population decline shown in the 2022 Census, bringing the country’s current population to 10,432,481 permanent residents.
Of Greece’s thirteen regions, twelve reported population decline, highlighting the problem of aging. Economic struggle and pessimism led to a decline in the birth rate. In addition, declining student numbers and a shrinking workforce pose additional demographic challenges.