Retiring abroad has always been a dream for many with the attraction of spending the Autumn of their lives in a warm and relaxed environment proving to be a strong one. New data released as part of HSBC’s annual Expat Explorer study suggests that India is now the choice destination for global expats.
Spain and France have long been considered the archetypal destinations for retiring expats particularly those hailing from Britain but these countries have now been overtaken by India (11%), Australia (8%), the USA (8%) and Canada (7%).
Despite this “two in five (41%) respondents living in France are retirees alongside a third in Spain (32%), compared to only 9% of expats overall.”
The HSBC study also claims that, “the biggest drivers behind choosing an ideal retirement location for expats is quality of life (62%), having family in the country (57%) and the weather (50%). Retiring in a tax efficient location, while not a key factor behind destination choices, is more important to higher earners (19%) than the general expat population (14%).”
Financial considerations are often in the forefront of someone's mind considering retiring abroad. If you are planning on retiring abroad or have already made the move let us recommend an Independent Financial Advisor to help you make the most of your pension.