The Annual Global Retirement Index (AGRI) 2022, released by the American travel magazine “International Living”, included the Oriental Republic of Uruguay among its list of World’s Best Places to Retire in 2022.
What is the Annual Global Retirement Index
AGRI is a ranking of the greatest places in the world for Americans who want to retire or spend a few months of the year in another country. According to its website, it is a “selection of outstanding destinations where you can live a healthier and happier life, spend a lot less money and get a lot more.”
AGRI is the most in-depth and comprehensive assessment of its type. It’s the best way we’ve found to sort through the world’s wealth of opportunity, bring some order, and assist you in determining the best destination for travellers and expats.
Hundreds of varying opinions and experiences based on the actual accounts of travellers were compiled by AGRI’s reliable sources in the greatest retirement destinations throughout the world to shape the recent retirement index. It serves as an easy approach to evaluate and contrast the top possibilities for travellers and expats and start narrowing down their options.
Westerners are moving to developing countries
“Americans today are looking long and hard at their own values, and at the way they spend their days and many are coming to the conclusion that they need a change. They want more time with family and friends, more time to pursue their interests, more freedom to arrange their days the way they prefer,” says Jennifer Stevens, executive director at International Living.
“But it can be hard to know how to afford that life. Overseas, in the right places, it’s easy. It can provide a path to that better-balanced, more affordable life folks are craving.”
It is true that the idea of encouraging Westerners to move to developing countries to escape high living costs has been criticized, with some calling it “modern-day colonialism,” but International Living says that living well and happier while spending less is only one of the criteria for a destination to be included in its Global Retirement Index.
“We live in an ever-more-connected, global world. And here at International Living, we celebrate that. We give readers the practical tools they can use to embrace a more international life,” says Dan Prescher, International Living’s senior editor.
“Being an expat isn’t about recreating your U.S. life in a new place. It’s about creating a new life in a place that excites and suits you, where you can expand your horizons and enjoy an adventure that you wouldn’t have back home.”
International Living, according to Prescher, connects people to countries where they may feel secure and at ease, and where the local culture is accepting and friendly. Furthermore, when individuals move to a new country, International Living actively encourages them to learn the local language, integrate into their communities, accept local traditions, and appreciate and celebrate the customs and culture, as well as holidays in that foreign country they can call their new home.
“The most successful—the happiest—expat retirees we know appreciate that their dollars stretch, sure. But what these expats say they love most about their adopted homes is the excitement that comes with learning a new culture—they celebrate the new experiences they’re having, the new music, the new foods, the new traditions, the new connections,” says Prescher. “They become integral parts of their communities with a network of friendships that includes as many locals as it does fellow expats.”
Furthermore, several of the nations on International Living’s Global Retirement Index actively court expats by offering incentives to attract them to come and remain.
“So we show readers how to best match what they’re looking for in a retirement lifestyle with a destination where they’re most likely to find it,” says Prescher. “Cost of living is just one of many requirements you should consider when you’re evaluating your options abroad.”
Thailand, for example, has just lately begun recruiting expats, which has helped the nation rise to the top of this year’s list owing to a new visa scheme.
World’s 10 best places to retire in 2022
- Costa Rica
The Oriental Republic of Uruguay
“Uruguay is a country where things work. Its public utility companies are among the best in Latin America for both quality and reach. And even though Uruguay is a small country, it offers a variety of attractive lifestyles to choose from,” says David Hammond, correspondent at International Living.
Uruguay is a tiny country located between Brazil and Argentina, with a population of about 3.5 million people. It has a natural grassland interior that is used for ranching and farming. The Bay of Montevideo, the city’s natural harbor, is a thriving container port. Its southern shore, which faces the Atlantic Ocean and the Ro de la Plata (a sea-like estuary), is populated with beach resorts popular with summer visitors.
Uruguay has four distinct seasons: spring, summer, fall, and winter. The typical July high in Montevideo is 82 degrees Fahrenheit, with lows of 63 degrees Fahrenheit at night. The typical winter high temperature is 57 degrees Fahrenheit, with a low of 43 degrees Fahrenheit at night. The seasons are also reversed because it is in the Southern Hemisphere.
Culture and social security in Uruguay
Among things that most people like about Uruguay is its egalitarian culture—everybody is equal and has equal rights and opportunities. The country is considered as the most democratic country in the whole of Latin America while bragging about having the largest middle class population in the Western Hemisphere.
Social Security, paid vacations, and comprehensive healthcare are provided to all employees. Anyone who passes the admission examinations is essentially guaranteed a spot at the public institution. Also alive and well is the notion of treating people with respect.
It’s also a place where there aren’t many natural dangers. It is not in the path of a hurricane. There are no damaging earthquakes here. Mosquito-borne sickness is not a problem because to good public health initiatives.
Food and lifestyle in Uruguay
Uruguay is a country where everything runs well. In terms of both quality and reach, its public utility providers are among the finest in Latin America.
Even though Uruguay is a tiny country, it provides a wide range of appealing lifestyle options.
Montevideo, Uruguay’s capital, is home to 40% of the country’s population. It is notable for its tree-lined streets, big green parks, and a seaside promenade that runs along to the Ro de la Plata.
Barbecued meat, Italian meals, and Mediterranean cuisine are also popular. Around 65 percent of Montevideo’s population is of Italian heritage. There are also a variety of ethnic dishes, as well as coffee shops and craft beer bars. If you enjoy wine, there are several world-class wineries on the outskirts of the city.
Where to go and what to do in Uruguay
Street tango, Carnival parades, a local orchestra, and ballet shows are among the entertainment possibilities. There are sandy beaches, an 18-hole golf course, gyms, and tennis clubs for amusement.
Ciudad Vieja and Centro, where you’ll find original plazas and period architecture; Cordón, an up-and-coming neighbourhood with unique cafés, shops, and nightclubs; the Pocitos area, with modern apartments and shopping centres; Carrasco, a low-density suburban community of single-family residences; and La Tahona, a private golf neighbourhood just east of Montevideo, are all popular areas in Montevideo.
Punta del Este, the most famous beach resort in South America, is located 80 miles east of Montevideo. The capital is also known as a university town with an influx of full-time residents. Suburban houses, luxury condominiums, and rural estates are all available in and around Punta del Este.
Water sports, golf, tennis, and bowling are all available for recreation. Sandwich shops to famous restaurants are among the dining options. There are pubs and casinos if you enjoy the nightlife. In the adjacent countryside, you’ll find outstanding wines, just like in Montevideo.
Best locations for living in Uruguay
Punta del Este is the most expensive city in Uruguay, despite the fact that it is less expensive than you may imagine. As a result, it is not suitable for everyone. For a lot less money, you may live in a lovely house just 4 miles from Punta del Este’s beaches in the neighbouring middle-class city of Maldonado.
If you want to be in an accessible location to city shopping, restaurants, and services while living in a tiny, laid-back seaside town, Atlántida or Piriápolis are good options. Atlántida is notable for its vast beaches and many trees. It’s also only 28 kilometres from Montevideo’s Centro. Piriápolis is 23 miles west of Maldonado and Punta del Este, and is recognized for its hills and seaside centre.
La Paloma is located 70 miles east of Punta del Este. Long, sandy Atlantic beaches, an enormous natural bay, a boat harbour, and a 40-square-mile freshwater lagoon may all be found in Rocha, a primarily rural location. Surfing, kayaking, kiteboarding, and fishing are all popular activities in this area.
Small farms may be found on the fringes of most cities and towns for country living. Another alternative is to relocate to a small interior city, where you may enjoy the benefits of rural living without incurring the costs of owning a farm.
Long-term rental in Uruguay is a viable choice. A two-bedroom apartment in Montevideo’s prestigious Cordón area may be rented for $700 per month. A contemporary flat in Maldonado may be rented for roughly $500 per month.
It’s not an issue if you’d prefer to purchase than rent. You can own any form of real estate in Uruguay in your own name. (You don’t need a partner, a trust, or any other special approvals.) A contemporary two-bedroom condo in Cordón costs $150,000. A good apartment in Maldonado may be purchased for $125,000.
Private health insurance plan and rent for expats
Most expats participate in a mutualista, a private health insurance plan. From basic checkups to major surgery and emergency treatment, a mutualista has you covered. The monthly fee is between $50 and $60, with a minor copay when you receive service. You can say goodbye to high deductibles and confusing expenses with a mutualista.
A great majority of expat couples residing in Uruguay live comfortably on a monthly budget of $2,500 to $3,500, including rent. The cost of living is greater in Punta del Este and the Montevideo neighbourhoods of Carrasco and La Tahona. The cost of living is lower in La Paloma and many other inland cities.
How to apply for legal residency
If you want to be a legal resident of Uruguay, you must first pass a criminal background check and show that you have a regular monthly income source in Uruguay which is usually roughly $1,500 for a single person.
If you are interested to apply for legal residency, you must first enter Uruguay using a tourist visa and then apply in person to become a resident. It is also possible to open a bank account, but application must be in person. Uruguay has a number of prominent residential specialists who can help you through the whole process of the application. They can assist you in ensuring that you carry the right documents from home and then walk you through the procedures once you are in Uruguay.
After completing three years of residence, a married couple can petition for citizenship. Single persons have five years from the time they apply for residency to seek for citizenship. What is most interesting is that Uruguay does not require a large fee or even an investment for one to become a citizen.
Uruguay is a country with a Spanish-speaking population. Montevideo and Punta del Este have the most English speakers. Residency specialists and real estate agents in the country are mostly bilingual. These cities also provide Spanish language schools, which may be a fun way to interact while learning.
Uruguay is valuable, but it isn’t even close. It takes nine and a half hours to fly nonstop from Miami to Montevideo, but it’s definitely worth it.