Southeast Asia is the expatriate and retiree favorite for a very obvious reason: Their dollars go a long way here than they would in their homeland, assuming they are from developed countries with sky-high cost of living and equally steep taxes. There are of course exceptions to the rule (there are plenty of retirement havens in the United States as well) but the difference is a way of life that’s far richer for a lot less (and by less, InternationalLiving.com defines it as less than US$1,000 for a couple).
In the words of Southeast Asian transplants coming from frigid corners of the northern hemisphere, you earn money fast there, you spend it slow here.
That’s why so many people with dollars to spend come here in droves. In fact, neighboring citizens who earn dollars through online work seriously contemplate to live abroad since their dollars are worth less in their own countries than their cheaper neighbors. The Philippines, for example, is currently experiencing an appreciation of its peso against the greenback. This means that for every dollar an online worker earns, he or she gets fewer and fewer pesos out of it.
And this is not just mere anecdote. InternationalLiving.com, an online magazine geared to people with peripatetic lifestyle, has compiled a list of five Southeast Asian countries where retirement could indeed be golden. It also doesn’t hurt that in these countries, the scenery is staggering, the beaches are endless, and summer is definitely longer than three months.
1. Malaysia
Pluses: excellent infrastructure, supportive network of retirees and expats, friendly people speaking English as the first unofficial language, and owning property by expatriates is easy.
Something to think about: Getting from one point to another entails a lot of driving, so you will have to have your own transport to get around quick and easy.
2. Thailand
Pluses: medical and dental facilities comparable to developed countries; retail commerce is mature and well-developed; cuisine is both cheap and tasty; entertainment options – be it daytime or at night – are endless.
Something to think about: English is spoken but in limited areas, so language barrier may at first be an issue. Leasing property is difficult, as expatriates are not allowed to own one.
3. The Philippines
Pluses: English fluency is top-rate; integration with locals is easy. Buying property can be done via Filipino spouse, otherwise, leasing is a viable option.
Something to think about: Security issues are a concern in some parts of the country, in particular, Manila the capital, and southwestern Philippines where insurgency is frequently reported.
4. Indonesia
Pluses: Bali is heaven on earth for expatriates long before Eat, Pray, Love zoomed in again to the “center of the universe.” Jakarta is a feasible option, if the expat can put up with the capital’s heaving population. Jakarta is home to a pulsing restaurant and club scene. Yogyakarta, Indonesia’s ancient capital, is gateway to Borobudur and home to all things fine arts.
Something to think about: Buying property in Indonesia is not open to expatriates, so leasing is the only option. Running a legitimate business also poses some risks, as Indonesian commerce is said to be riddled with red tape.
5. Cambodia
Pluses: French-inspired architecture and cuisine is what beckons expatriates to settle down in Phnom Penh, the country’s capital. Angkor Wat is an added bonus, if not the clincher.
Something to think about: Owning immovable property in Cambodia is not allowed for a natural or juridical (as in a corporation) foreigner so leasing (for up to 99 years) is the other way to go around.
