The Philippines is experiencing a surge in foreign retirees choosing it as a retirement destination, according to the Philippine Retirement Authority (PRA) on Thursday. This follows recent industry awards recognizing the country's accessibility, affordable cost of living, and healthcare quality.
Global recognition and awards
The Philippines was named the world's top retirement destination in the Retirement Abroad Index 2026, published earlier this month by international health insurer Expatriate Group. The index evaluated 20 countries across various categories, with the Philippines scoring highest in affordable cost of living and visa accessibility, followed by expat community and integration, and health insurance requirements. This recognition builds on the country being named Asia's Best Retirement Destination last year by travel media platform TripZilla.
Special Resident Retiree's Visa success
The nation's Special Resident Retiree's Visa (SRRV) was cited as one of the most accessible retirement programs among the countries assessed. PRA General Manager Roberto Zozobrado told Arab News on Thursday: “We target approximately 4,000 new retirees every year … This year our year-to-date figures show we’re 54 percent ahead of the same period last year.” He added: “Retirees choose the Philippines because of our people … Coupled with the low cost of living in the Philippines, and the fact that we speak English, and the fact that we have beautiful, natural attractions. All that put together keeps us No. 1.”
Cost of living and expat communities
According to the index, a retired couple can live comfortably in the Philippines on roughly £750 to £1,000 ($988 to $1,318) a month, with costs generally lower outside Manila. The index also considered long-established expat communities in popular destinations like Manila and Cebu, and English being an official language alongside Filipino, giving the Philippines a major advantage for foreign retirees to integrate with local residents.
Current retiree demographics
Today, the Philippines is home to about 62,000 foreign retirees residing under the SRRV, a flagship initiative targeting foreign nationals above 40 years of age. Official data shows Chinese nationals top the list of foreign retirees, followed by South Korea, India, and the US. Many live in the Manila capital region, Central Luzon, and Central Visayas, where the beach destination of Cebu is located.
Future targets and government mandate
Tourism officials are now working to attract more retirees from Europe, Australia, and Canada, leveraging Filipinos’ “welcoming attitude,” which has also been cited as a top reason for choosing the Philippines. Zozobrado stated: “The PRA has been mandated by the government to make the Philippines a ‘haven’ for foreign retirees. Keeping our country high on the list of the world’s retirement industry is (our) duty.”
