Spend your golden days in the one of best places to retire in the world. We take a look at the reasons why Thailand is such a popular retirement destination.
Thailand frequently sits high on rankings of popular tourist destinations in the world – and for good reason. With its pristine beaches, rich culture and heritage, delicious cuisine and limitless shopping experiences, it is no wonder that tourists choose to visit The Land of Smiles again and again.
That said, Thailand is also one of the most popular retirement destinations in the world, for people in the Southeast Asian region and beyond. We take a look at why people choose to retire in Thailand.
Relaxed Pace of Life
After working hard all their adult lives, retirees like to seek out a slower, more relaxed pace of life, and where better to enjoy it than in beach paradise Thailand. Villas in beach cities like Phuket, Hua Hin and Pattaya serve as an escape for retirees, away from the hustle and bustle of the concrete jungle.
For those looking for a more cosmopolitan retirement, Bangkok is a dream destination, with many luxury condominiums in the city center providing the spot of peace and quiet that they seek in retirement, while having the world’s convenience at their fingertips.
Thailand’s fast-growing economy has seen its cities’ skylines grow and evolve rapidly. In line with its Thailand 4.0 economic initiatives, it has been expanding both its public and international transport links to cement itself as a transportation hub in the region.
Thailand also has one of the best healthcare systems in the world, equipped with the latest, world-class healthcare infrastructure and medical talent. The country’s impressive efforts in controlling the spread of COVID-19 has been lauded around the world, and has even been ranked as the “safest tourist destination in the world”.
Low Cost of Living
By global standards, Thailand is relatively more affordable to retire in, even in major cities like Bangkok. Compared to its neighbouring countries in Southeast Asia like Singapore and Malaysia, Thailand has more affordable housing and lower day-to-day living expenses for any kind of lifestyle.
The law requires retirees looking to obtain a Retirement Visa to have a monthly income of at least 65,000 baht (USD 2,085), savings of 800,000 baht (USD 25,655) in a Thai bank account or a combination of the two that equals 800,000 baht a year.
Immersive Local Culture
Thailand has very rich and diverse local culture across the country. It is also known for its strong cultural heritage, with both cosmopolitan and fringe provinces preserving historically significant heritage sites in their entirety.
From iconic dishes like Tom Yum Goong and Phad Thai, to lesser known regional cuisine like Ahan Phak Tai, Thai cuisine is another aspect of its culture that is very popular all over the world.
Thailand, being located in Southeast Asia, enjoys good, warm weather all-year round, perfect for retirees escaping colder countries in the West. For those looking for cooler weather during the hot summer months, cities in the North of Thailand such as Chiang Mai and Chiang Rai in the highlands will serve as a cool respite.
Strong Expat Culture
Thailand has a strong expat culture, thanks to its growing international population. Retirees and young families are increasingly making Thailand their home, and they can always expect to find a piece of home wherever they stay. Expat taxes on income are also relatively low in Thailand, though retirees on a Retirement Visa need to be careful as working is not allowed on that visa.
With many great reasons for retiring Thailand, it is no wonder that many overseas investors invest in retirement property in the country, especially in resort cities like Hua Hin and Pattaya. If you are planning to retire in the Land of Smiles, get in touch with our agents to find out how we can help you spend your best days in style.
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