The secret of Thailand’s allure for retired ex-pats?
Sure, it’s the beautiful natural scenery, unique culture, and kind-hearted people that captivate numerous foreigners to choose Thailand as their retirement destination. However, experts say there is one more thing that helps these international residents make the crucial — and life-changing — decision.
Poonpong Naiyanapakorn, Director of the Office of Trade Policy and Strategy (OTPS), revealed that, in addition to its stunning natural landscapes, rich cultural heritage, and the friendly and hospitable nature of the Thai people, the relatively lower cost of living in Thailand is a significant attraction for foreigners pondering their retirement options.
Furthermore, it is expected that inflation this year will significantly decelerate compared to last year — another plus for attracting expats.
“The measures taken by the government to help sustain and support the cost of living, along with the monetary policies of the Bank of Thailand, have significantly contributed to slowing down inflation this year when compared to the previous year,” Poonpong said.
"This has the potential to make Thailand an attractive destination for foreign retirees in the long term, as it offers financial stability and lower living costs. It also presents a significant opportunity for generating income for businesses related to the retirement and elderly care sector," Poonpong added.
Thailand was the only Asian country to make it into the rankings of the “Annual Global Retirement Index 2023” by US media outlet International Living. The Kingdom is ranked 9th (alongside Italy) of 16 countries.
In the “Best Countries for a Comfortable Retirement 2023” ranking by U.S. News and World Report, a prominent American media outlet, Thailand achieved the highest ranking in Asia. It placed 18th out of 87 countries, showcasing its status as one of the top choices in the region for golden-agers. Clearly, Thailand’s strong appeal as a retirement destination continues.
