As Mr. Twain suggested long ago, though, statistics are a funny thing. Some pieces of data we've collected for each locale in our Index are straightforward enough—number of international airports, for example. Others less so. What's a museum? How many books does a building need to house before it's a library? Some data points beg doubt. Who's counting the expats in residence in each of these places? Or surveying the local population to confirm who does and who does not speak English...and at what level? In a country like Belize, for example, with three paved highways (in this case, that was one statistic I could confirm from my own experience), there's not a lot of room in the budget for polling and census taking. Coincidentally, I was in Cayo, Belize, as we finalized this year's Index. Driving to meet a friend one day, we passed the Statistical Institute of Belize. It's a single-room wooden shack that didn't appear to have electricity. For this survey each year, we start with recognized sources—including the CIA Factbook, the World Health Organization, the International Monetary Fund, and WorldPopulationReview.com, for example. Our team in our Panama City headquarters spends weeks plugging numbers thus collected into spreadsheets, then figuring averages and ranking results. That work done, they present their findings to Lief and me. We call in reinforcements, sharing those early results with key correspondents around the globe. "How can you say that the per-square-meter cost of an apartment is greater in Medellin, Colombia, than in the City Beaches of Panama," wondered Overseas Property Alert Editor Lee Harrison after reviewing this year's initial figures... "Those expat population figures can't be right," Lief responded... "It's easier to establish residency in Thailand than these rankings indicate," Asia Correspondent Wendy Justice pointed out, "and I'd say that the residency program offered by the Philippines is one of the best anywhere..." "The City Beaches of Panama can't finish that high in the rankings this year," I commented. "The cost of living in the extended Panama City region has risen too much for that to make sense..." And so on. Full disclosure: When our personal experience differed from what the statistics suggested...we went with our personal experience. "Next year, maybe we should short-cut the whole thing," Managing Editor Kaitlin Yent, who has directed and overseen this mammoth project, suggested when all was said and done. "Maybe we should forget the statistics and jump straight to our experience." We won't go that far. The published, formal statistics, such as they are, provide a foundation and give us something to react to. We know we must start there, then overlay some judgment. Bottom line, where did all that figuring and comparative analysis land us this year? We've shared our hot-off-the-presses 2014 Retire Overseas Index first with subscribers to my Overseas Retirement Letter. It comprises our bumper August issue, in subscribers' inboxes now. Next, we'll reveal the results to attendees at this week's Retire Overseas Conference in Nashville. If you're among the hundreds of readers preparing to meet us in Music City, watch your inbox for a special email from Conference Director Lauren Williamson containing a link to the complete 2014 Retire Overseas Index online, including fully detailed budgets for each of the 21 destinations featured. In addition, of course, we intend to detail the survey results for you, too, dear reader. Watch this space. Kathleen Peddicord
Asia Correspondents Wendy and David Justice: Hanoi, Vietnam Of all the places we could pick from in our travels, Hanoi, Vietnam, is the city we have chosen to call home. The city is an energetic and chaotic jumble of ancient neighborhoods, tranquil parks and lakes, modern high-rises, and centuries-old pagodas. It is also home to one of the most healthy and varied cuisines in the world. In more than two years of living in Hanoi, we are still discovering delicious and exotic new foods. Even more important to us are the people. They are curious, polite, friendly, and generous to a fault. They really want to get to know you and to make friends. Friendships we've formed here have lasted many years. There are always other foreigners to socialize with if we want, and there is always something to do. And the cost of living is so affordable. Here in Hanoi—anywhere in Vietnam, for that matter—we don't have to worry about money. We know that Hanoi isn't the right place for everyone, but we can easily imagine living here for many more years. If we ever had to leave Vietnam, we would probably head over to Pai, Thailand. Its funky, mountain-town ambiance reminds us of the small towns we knew in the Colorado Rockies. If we developed ongoing health problems or became too elderly and frail to tolerate the stimulation of Hanoi, we would strongly consider moving to Hua Hin, Thailand. Asia Correspondents Vicki and Paul Terhorst: Lviv, Ukraine Vicki and I are perpetual travelers, which means we wander around the world without a fixed home base. By default, therefore, wherever we are at the moment becomes our favorite place. Otherwise, why would we be here? I'm writing this in Chiang Mai, Thailand, which makes Chiang Mai a favorite place. Recently, we chose to spend time in Lviv, Ukraine, because of its combination of European culture (historic buildings and churches, art museums, opera and ballet, convenient public transportation, cafe society, hearty food, robust wine) and low prices. Lviv also makes a useful base for exploration to the rest of Eastern Europe, with six international borders within 200 kilometers or so. Just jump on a train or bus and you can get to Moldova, Romania, Hungary, Slovakia, Poland, or Belarus. The rest of Europe lies just a bit farther along. Ukraine's pro-Russia rebel insurgency remains far to the east of Lviv, more than 800 miles away. Your biggest day-to-day problem in Lviv will be the language. Ukraine uses a different alphabet, making it hard even to guess at street names or menu offerings. Along with Lviv and Chiang Mai, I'd choose Paris as our third favorite place. Having three favorite places makes it easy to avoid running into trouble with 90-day visa rules in any one of them. Asia Correspondent Robert Carry: Cambodia Cambodia might seem an unusual number-one pick, but it has some serious strikes in its favor. First up is cost of living. Put simply, this is the cheapest place I've ever been to. You can get a great apartment in a city center location for less than US$400 a month. A Cambodian-style meal in a local eatery will run you less than a dollar and some of my favorite watering holes charge 75 cents a beer (and as little as 25 cents during happy hour). Everything here is just unfathomably inexpensive. Then there's convenience. You can turn up at the airport unannounced and get a one-year visa, renewable at the end of the 12 months, on arrival. It's almost too easy. Plus, the U.S. dollar is the main currency here, English is widely spoken, and there's a sizable expat community in place. However, Cambodia's real draw is its people. After decades of war and continuing poverty, the Khmers have somehow managed to keep their smiles. They're warm, welcoming, and infectiously optimistic. Cambodia's enchanting culture and Buddhist ethos underpins its peoples' relaxed, live-and-let-live way of life. When I retire, Cambodia is where you'll find me. Tomorrow, top picks from key correspondents in Europe and the Americas... Kathleen Peddicord Editor's Note: Want to learn more about what Live and Invest Overseas correspondents really think about living and retiring overseas? Join us for three days of live discussions next month when we'll be convening with dozens of our normally far-flung experts and expat friends for this year's Retire Overseas Conference taking place in Nashville Aug. 29–31. You have four days remaining to register for what will be the biggest retire-overseas event of the year taking advantage of the Early Bird Discount. This discount, which can save you up to US$300 off the cost of registration, expires this Thursday, July 31, at midnight. Complete details of the event are here, and you can register online here.
Dumaguete is a center of learning. There are universities and secondary schools scattered throughout the town, and roughly 25% of the total population attends some form of higher education, giving the town a distinctively collegiate ambiance. One advantage of living in a university town is the abundance of inexpensive restaurants that cater to "starving" college students. Dining out is a popular and affordable pastime here. Whether you want Chinese, Japanese, European, American, or even Mexican food, you’ll find many restaurant options where you could enjoy a fine meal with drinks for about US$10. If you want to go local, you could pay less than half that amount. Dumaguete is one of the top 10 most-visited destinations in the Philippines. As a result, the infrastructure is developed to a good standard. The health care infrastructure, especially, as I’ve mentioned, is excellent. It's also almost unbelievably affordable. Dumaguete's Silliman Medical Center is considered one of the best hospitals in the Philippines outside Manila and Cebu and is affiliated with the prestigious St. Luke's Medical Center in Manila. To give you an idea of the cost of care here, specialists charge just 500 pesos for a consultation—slightly more than US$10. Medical care isn't the only thing that is an extraordinary bargain in Dumaguete. The overall cost of living here is extremely low and one of the biggest advantages for the would-be retiree on a budget. A couple could live comfortably here for well less than US$1,000 per month...even as little as US$700 per month. Wendy Justice Editor's Note: The Philippines is one of the 24 countries we will be showcasing during this year's Retire Overseas Conference taking place in Nashville, Tennessee, Aug. 29–31. We will begin the countdown to the launch of open registration for this, our biggest event of the year and the only conference we hold each year in the United States. Meantime, you can get your name on the First Alert list for special discounts and VIP attendee benefits here.
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Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group. With more than 25 years experience covering this beat, Kathleen reports daily on current opportunities for living, retiring, and investing overseas in her free e-letter.
Her book, How To Retire Overseas—Everything You Need To Know To Live Well Abroad For Less, was recently released by Penguin Books.
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