Jamaica ranks as second-most affordable destination to retire
JAMAICA has been ranked the second-most affordable destination to retire in the Caribbean by publication The Travel.
Recommending the seven most affordable territories in the region for Americans to retire, the writer of the article uses the monthly average cost of living from the World Population Review, the total population size, according to Worldometer, and the percentage of the population living over 65 data from Knoema.
The Dominican Republic — the only Spanish-speaking country placing in the ranking — was first with an estimated monthly cost of living of US$711. With 11.4 million people living in the DR, 7.7 per cent of which have attained retirement age, it costs an average US$252 for a one-bedroom apartment.
The Travel recommends that retirees settle in the capital of Santo Domingo or resort cities such as Puerto Plata, Punta Cana, and Sosua.
Right behind the DR is Jamaica with an estimated monthly cost of living of US$829. Of this amount, the article says that about US$314 can be expended for a one-bedroom dwelling.
“Jamaica is a vacationer’s paradise, but there are also several off-the-beaten-path things to do. Several expat communities reside within the nation, which isn’t a surprise due to its vibrant culture and fantastic views of mountains and beaches,” The Travel
report reads.
“Jamaican culture has had a massive impact on the world, and all these qualities can be enjoyed by retiring in the country, including the chance to explore the influential reggae and ska scenes,” it adds.
The article further recommends that retirees opt for the quieter coastal towns of Port Antonio and Montego Bay.
Of Jamaica’s population of 2.8 milion, 7.8 per cent are over 65.
Rounding out the top three is the lesser Dominica or the Commonwealth of Dominica. The over 73,000-strong nation has an average monthly cost of living of $856.
The Travel recommends that those choosing to retire to the “nature isle of the Caribbean” spend around US$360 on a one-bedroom residence.
It further describes Dominica as “a paradise for expats seeking a tranquil and picturesque setting. This small island nation is renowned for its stunning natural landscapes, including lush rainforests, majestic waterfalls, and pristine beaches.
“Living in Dominica offers expats the chance to immerse themselves in a vibrant culture and a close-knit community. The island’s laid-back lifestyle and welcoming locals create a warm and inviting atmosphere for retirees looking to enjoy their golden years in a peaceful and scenic environment,” the author continued.
The other seven most affordable destinations to retire were: Trinidad and Tobago, Grenada, St Kitts-nevis, and St Lucia.