The Top 8 Destinations of 2017 for Starting a Business in Retirement

James Crier

June 22, 2017


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The economic situation around the World isn’t exactly rosy, but that hasn’t dampened the mood of many retirees seeking a more relaxing life in retirement away from the chaos. More and more are looking to set up businesses to add income in retirement too. After all, retirement is longer these days than in the pat, and incomes need to stretch that bit further. Pensions just won’t cut it for many.

For many retirees, better weather is at the top of their reasons for moving abroad in retirement according to a new study. 76% mentioned weather as a major motivation, 74% mentioned a lower cost of living and 68% mentioned the allure of better value for money property. Better health care and a slower pace of life were other reasons mentioned. If these reasons reflect your motivations and you are looking for extra Retirement Income from a business, here are the top destinations you should be looking at today as you near retirement. Most of the following destinations offer relatively cheap labour and have favourable legislation for setting up your new business in retirement.

Santa Cruz-Tenerife

Regardless of where you are moving from, you will enjoy the magnificent weather all year round and the presence of other expatriates. The housing market holds a lot of bargains as well for people that can’t invest in more top heavy markets across the West.

Arrecife-Lanzarote

The main draw for retirees and other expats here is the cheaper standard of living and the more affordable housing. However, it holds other attractions that make it a perfect fit for many, including a good healthcare system, and a booming tourism industry with lots of opportunities for new businesses.

Lisbon- Portugal

This is the place to be if you are after magnificent weather without veering off the beaten track. Lisbon is an international city with a blend of expatriates and locals. You can decide which way you want to go on arrival. Housing is affordable and the standard of living is some of the most affordable across Europe. Flights are affordable all year round, and you can easily get back to your home country if your business requires trips home.

Panama City-Panama

If you are up for somewhere a bit different, Panama may be the perfect place for you to retire. The bi-lingual nature of the populace means you won’t have to deal with the culture shock in some other destinations around the globe. The cost of living is affordable. There is also a growing entrepreneurial spirit in Panama, which is leading to more opportunities for new businesses.

Corfu-Greece

The economic turmoil in Greece over the last few years may paint it as a no-go for investors but it is a great place to be for potential retirees. The expat community, the weather, the affordable lifestyle and the perpetual holiday-like atmosphere makes Corfu a top draw destination. Fancy working by the pool? Corfu may be for you.

Valetta-Malta

The weather is the major attraction for many moving to Valletta but the city and nearby areas offer affordable property, a relaxed way of life and cheap housing.

Madrid- Spain

The busy international population in Madrid makes the transition phase easy for most retirees. Property prices are at their most favourable for years. It is one of the best places to be if you are seeking to set up your retirement business in an international city.

Paris- France

It is last on this list due to the high cost of living in comparison to other destinations covered here, but Paris is known for its international appeal making it the perfect retirement hub for entrepreneurs.

If you want a destination with great weather and an affordable cost of living for retirement and setting up your own business, these destinations should be high up on your list. Of course, there are lots of other possibilities. You may like to choose a developing world country if you are looking for a place with fresh and exciting opportunities. Abuja in Nigeria is one that springs to mind. Another is Cape Town, South Africa.