Portugal has been ranked as the best European country to retire in | Retirement | Finance

As we head towards a dark, cold winter here in the UK, perhaps many are starting to ponder living in warmer climes elsewhere – especially those edging towards retirement.

A new study has found that Portugal might just be the best place to retire in, and indeed the best place for wine tourism.

The ranking assessed countries based on a number of factors, including cost of living, house prices, life expectancy, safety, population aged 65+, healthcare, beach quality and visa accessibility.

Portugal came out on top overall, with its southern Algarve region being an especially attractive prospect for retirees.

With its sunny beaches and plentiful golf courses, it’s little surprise the area is already home to a vibrant expat community.

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Portugal also ranked highly in the study for those seeking a relatively cheap retirement, coming in second place for cost of living and third for cheapest house prices.

And for those able to save a few pennies on some living expenses, Portugal is an excellent place to splash out on some wine, with a world-renowned wine industry that serves up port wine, as well as rich reds and lightly sparkling ‘vinho verde’ (‘green wine’).

One study, conducted by Bounce, found that Portugal in fact ranked as the world’s best country for wine tourism, with more than two percent of the country’s total land covered in vineyards.

The study took into account factors such as wine production and consumption, wine tours, number of vineyards and the average cost of a bottle of wine.

If that wasn’t enough to convince you of the benefits of retiring in Portugal, the country has also been named the seventh most peaceful country in the world, according to The Global Peace Index 2023.

So residents can sit back and enjoy a glass of wine in peace.