Thinking of Retirement? Study Says MY is The Safest Place to Retire in Asia
by: The Beat Asia
July 22, 2023
Wondering where the best place to retire is? It is none other than Malaysia, according to a list released by personal finance website GOBankingRates.
According to the report, Malaysia took the top spot with a cost of living index of 22.9, a high global peace index of 1.471, and a gross domestic product (GDP) of $481.9 trillion. It also indicated that one only needs about $1,066 to cover monthly expenses, making the country an outstanding place to retire in.
Malaysia is followed closely by Kuwait, which has a 1.739 global peace index and an average monthly cost of living of around $1,741. Mongolia came in third place with a global peace index of 1.775 and an average monthly cost of living of only $940, despite having the lowest GDP among the countries on the list.
Fifth-place Indonesia had a similar average cost of living as Mongolia but had the highest GDP at $1.4 quadrillion. Meanwhile, Nepal placed tenth, having the most affordable cost of living at only $684.
Vietnam, Jordan, Cambodia, Oman, and Cyprus also made it on the list, where retirees only need less than $2,000 for monthly expenses.
The website listed ten of the safest countries to retire in Asia based on their study, which drew data from the United Nations Pacific-Asia Region Group and various websites. This includes GDP from the World Population Review, the cost of living index from Numbeo, and the Global Peace Index from the Institute for Economics and Peace’s Global Peace Index 2022 Report.
Moreover, GOBankingRates imposed a rule that only countries with a global peace index of under 2.0 should qualify for the list.
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