Greece ranked first among 100 countries as the most affordable destination to settle after retirement, according to a survey conducted by the British insurance company REASSURED.

The survey revealed that due to the high cost of living in the United Kingdom, many Britons intend to move abroad after their retirement, while the research, according to REASSURED’s Director of Corporate Strategy, Mr. Phil Jeynes, aims to identify destinations that are affordable for pensioners trying to secure their savings.

The Office of Economic and Commercial Affairs of the Embassy of Greece in Cyprus made a relevant analysis in which reference is made to Greece, Cyprus, and the other countries that are accessible to pensioners internationally. The company focused on six parameters that most retirees take into account when considering the prospect of moving abroad which include the country’s annual level of sunshine; average life expectancy; cost of living index; the average cost of accommodation; average transport cost; and percentage of the total population aged over 65 years.

The ten most affordable countries list, after Greece, is completed by Portugal in 2nd place with a total score of 6.712, Malta in 3rd place with 6.689, Italy in 4th place with a score of 6.482 and Spain in 5th with 6.467, Cuba in 6th with 6.366, Cyprus with 6.358 in 7th, Japan in 8th with 6.288, Albania in 9th with 6.272 and in 10th Puerto Rico with 6.264.

Greece ranked first with a total score of 6,806, with an average life expectancy of 81 years (5th place), a population over 65 of 23% (2nd place) together with Portugal, 2,773 hours of annual sunshine (9th position), while the average cost of living is around 347 euros, making it the second cheapest country in the top ten after Albania. The cost of living index stood at 54.6 for Greece (6th place), while the average cost of transport is around 30 euros), ranking the country in terms of cost in the 6th place in the top ten. The lowest life expectancy was in Bulgaria, Romania, Morocco, and Algeria, which also had the lowest percentage of the population over 65 at 6%. Algeria also records the lowest average cost of living at around 98.5 Euro, the lowest cost of living index of 27.6 as well as the lowest average transport cost of around 8.1 Euro).