Which country would Canadians most like to retire to?

For many Canadians, retirement will be spent in Canada, possibly in the city in which they have spent their working lives.

But for others, the dream is to retire to another country and there’s one destination that stands out above others according to a new analysis of global Google search data by financial comparison site money.co.uk

Costa Rica is the most-searched-for retirement destination for Canadians thanks to its affordable cost of living, quality health services, friendly locals, and a rich biodiversity. Completing the top 5 were: Portugal, Mexico, Panama, and Thailand.

For Canadian retirees who do make the move to Costa Rica, retirement savings will certainly go further than if they stayed at home.

A mean in an inexpensive restaurant is more than half the price of the equivalent in Canada, as is a domestic beer. Many grocery products cost around one third lower and utilities and transportation costs can be as much as 80% lower.

Although clothing tends to cost more, it is housing that offers the biggest saving compared to staying in Canada. Buying an apartment, for example, is around 60% cheaper according to numbeo.com.

Global retirement preferences 

The money.co.uk rankings are based on average monthly search volume for phrases commonly associated with retiring to another country and being the top search destination in the greatest number of countries.

The analysis shows that France was the top destination globally, while Canada came second, beating Argentina, Portugal, and Australia in the top 5.

The 10 Most Searched For Retirement Hotspots