The list of the most suitable countries for a comfortable and secure retirement life in the world has been announced.
Modern.az reports that a total of 89 countries were evaluated in the “Comfortable Retirement Rankings” list for 2024, and countries were ranked based on key criteria such as social welfare, healthcare system, cost of living, tax environment, and climate.
According to the ranking, Azerbaijan is placed 81st. Looking at the country's economic indicators, its gross domestic product is approximately 72.4 billion dollars, and its population is noted to be 10.1 million people. The GDP per capita is shown at 23,686 dollars. These indicators reveal that Azerbaijan is located near the bottom of the list in terms of suitability for retirement.
The difference is sharper compared to Eastern Europe
The difference deepens further when compared to Eastern European countries. For example, Poland is 38th, Romania 42nd, Bulgaria 46th, and the Czech Republic 48th. In these countries, GDP per capita indicators generally range between 40–50 thousand dollars, which indicates that they create a more favorable environment for retirement.
The Baltic countries are also ahead of Azerbaijan. Latvia is ranked 57th, Estonia 66th, and Lithuania 68th. In these countries, the social system and quality of life are rated higher.
On the other hand, although Israel is ranked 74th, it is significantly superior to Azerbaijan in terms of economic indicators, with a GDP per capita of over 53 thousand dollars in that country.
Azerbaijan's position in the CIS region
Azerbaijan's position is not ideal even among former Soviet countries. Kazakhstan is ranked 77th, slightly ahead of Azerbaijan, with a GDP per capita of approximately 39 thousand dollars.
Among other CIS countries, Ukraine is 85th, Belarus 87th, and Russia 88th. Although Azerbaijan surpasses some of these countries, it generally remains below the average level within the CIS.
Situation among Turkic states
Differences among Turkic states are more striking. Turkey is ranked 33rd, placing it in the first half of the list and in a leading position in this area. Kazakhstan is 77th, Azerbaijan 81st, and Uzbekistan 84th.
It is important to note that Kyrgyzstan and Turkmenistan are not included in this ranking.
Indicators close to Azerbaijan
The range where Azerbaijan is located largely overlaps with that of developing countries. Countries such as Serbia (76th place), Oman (78th place), Cameroon (79th place), Zimbabwe (80th place), and Algeria (82nd place) are located near it. In most of these countries, GDP per capita indicators are also close to or lower than Azerbaijan's.
Top ranks: high welfare countries
The top ranks of the rating are traditionally occupied by countries distinguished by high welfare and development levels. Switzerland is ranked first, with a GDP per capita of over 92 thousand dollars in that country. It is followed by New Zealand, Portugal, Australia, and Spain.
In most of the countries in the top ten, this indicator ranges between 50–140 thousand dollars, which signifies a high quality of life for the retirement period.
Countries at the bottom of the list:
Lebanon is ranked 86th in the rating, with a GDP per capita of approximately 12,853 dollars. Belarus is in 87th place, with the country's GDP at 71.9 billion dollars and a GDP per capita of approximately 30,751 dollars. Russia is ranked 88th on the list, and although its total GDP is 2.02 trillion dollars, its GDP per capita is around 44,104 dollars. Iran is among the last, in 89th place, with the country's GDP at 402 billion dollars and a GDP per capita of approximately 17,922 dollars.
It should be noted that the study primarily focused on which countries people can lead a more comfortable and secure life in during their old age.
According to the information, one of the most important decisions made during retirement planning is the choice of residence. Living abroad is considered more attractive, especially among US citizens, and according to official statistics, approximately 760,000 people living outside the US receive a total of 7.5 billion dollars in social security payments annually.
The study was prepared as part of the “Best Countries” ranking and covers the results for 2024. Within the framework of the survey, the opinions of nearly 17,000 people were gathered, and the responses of approximately 5,900 respondents, particularly those over 40 years old, were taken as a basis.
When preparing the ranking, countries were evaluated based on several key criteria. These criteria include the affordability of living costs, the favorability of the tax environment, the friendliness of people, the country's suitability for living, the comfort of the climate, the protection of property rights, and the level of development of the healthcare system.
