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Dumaguete City has been named by Forbes Magazine as among the best places to retire in the world, according to a report by Gulf News. The city, located in Negros Oriental province, is number five on the list of the prestigious US-based publication. Forbes described Dumaguete City as ideal for retirees who want more for their money. “Here you’ll find one of the best places for beachfront living on a budget. Dumaguete is among the cheapest places in the world to live,” it said, citing a listing by the Retire Overseas Index.
“The climate is hot and humid. Dumaguete is protected against most of [the] typhoons in the Philippines,” it said.
Aside from Dumaguete, others in the Forbes roster are the Algarve in Portugal, Cuenca in Ecuador, Georgetown in Malaysia, Chiang Mai in Thailand, Pau in France, and Medellin in Colombia.
Forbes Magazine said the Philippines placed 16th among the “Top 20 countries” for retirees.
Secretary Herminio Coloma of the Presidential Communications office said Forbes’ ranking is based on factors such as cost of living, taxes, medical care, climate, security and crime situation, cultural attractions and hospitality.