The Philippines’ recognition as the world’s top retirement destination for 2026 could translate into greater economic benefits as the country seeks to attract more foreign retirees and their spending, according to Philippine Retirement Authority (PRA) president Roberto “Bob” Zozobrado.
The Philippines topped the latest Retirement Abroad Index by the Expatriate Group, scoring 78 out of 100 to emerge as the world’s highest-ranked retirement destination. The index assessed countries based on healthcare quality, visa accessibility, health insurance requirements, cost of living and the strength of local expatriate communities.
The group estimated that a retired couple can live comfortably in the Philippines on 750 to 1,000 pounds (US$998 to US$1,330) per month, although living costs are generally higher in Metro Manila than in smaller cities and coastal communities.
Zozobrado said the recognition represents an opportunity to attract a larger share of the global retirement market.
“The retirement industry all over the world is valued at approximately US$70 trillion. If we are designated as number one in the world, then we have every possibility of getting a significant share of that amount,” Zozobrado told TTG Asia.
He said the ranking strengthens the Philippines’ position as a retirement destination for foreign nationals considering a move overseas.
According to Zozobrado, foreign retirees also contribute to a range of sectors, including retail, hospitality and tourism.
“That is very well affected by this positively because these people, they have all the money. The moment they’re settled down in their chosen location here in the Philippines, they travel all over the country,” he said.
The PRA stated that around 62,000 foreign retirees currently hold active Special Resident Retiree’s Visas (SRRVs) in the Philippines.
The authority is targeting at least 4,700 new SRRV applicants in 2026 after registrations slowed in 2025. Zozobrado attributed the slowdown to the government’s crackdown on illegal Philippine Offshore Gaming Operators, many of whose workers were Chinese nationals previously residing in the country.
With the Philippines now ranked as the world’s top retirement destination, the PRA hopes the recognition will attract more foreign retirees and increase their contribution to local economies through spending, travel and long-term investment.
