Dumaguete is one of world’s best places to retire
If you are already thinking of your retirement, you might want to consider staying in the country for good.
Negros Oriental capital Dumaguete was tagged to be one of the best places to retire around the world, according to the 2014 Retire Overseas Index released by The Overseas Retirement Letter, a publication for retirees all over the world.
According to the study, as first reported by ANC Yahoo! Dumaguete was chosen for its cheap cost of living, where one can live on a budget of US$910, or approximately Php 40,000 on rent, gas, electricity, water, cable, groceries, Internet, and entertainment.
The report also said that Dumaguete was also chosen for its large English-speaking community and its beautiful beaches.
The Retire Overseas Index takes into account factors such as climate, existing expat community, cost of living, health care, crime, infrastructure, English spoken, real estate, entertainment, residency options, environmental conditions and taxes.
Dumaguete aside, the country was also included in International Living’s (IL) Annual Global Retirement Index this year, placing number 17 out of 24 countries.
The country was also part of last year’s list, placing two notches higher at number 15.
Quoting IL in last year’s list:
In the Philippines, your dollar stretches (and stretches and stretches), and most expats live comfortably on $800 to $1,200 per month. This will fund a lot of luxuries, such as household help. In the provinces, the monthly salary for live-in maids is around $65. In a coastal town on Negros Island a haircut can cost as little as 77 cents.
IL also cited various benefits that the Philippine government is giving its expat retirees, such as the issuance of a special retirement visa. If a retiree is over 50 years old and has a monthly pension of US$1,000 (or around Php 44,000), s/he can obtain a permanent residency. Pensions and and annuities are also exempted from tax here.