More Americans retiring abroad
Retiring abroad is becoming more popular among people from the US, an expert has revealed.
Kay Yabandith, editor of International Real Estate Magazine, stated that attractions such as a lower cost of living and cheap healthcare are proving to be very attractive inducements.
This, she said, has led to affluent baby boomers increasingly considering moving to a foreign destination that offers these perks.
She commented: "They have visited those countries many times and if they retire abroad they simply get more out of the deal."
Ms Yabandith added that people are "not afraid" to retire to another country and are leaving in pursuit of a luxurious and affordable lifestyle.
Furthermore, she stated that some other countries, such as those in South America, are becoming popular because they offer various tax benefits.
This comes during a period when a record number of people from the UK are moving abroad on a permanent basis.
According to the Office for National Statistics, more than 200,000 Britons relocated overseas during 2006.
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