This article takes a look at the 17 best places to retire in Europe for English Speakers. If you wish to skip our detailed analysis on an affordable European retirement, you may go to the 5 Best Places to Retire in Europe for English Speakers.
An Affordable European Retirement
American retirees are embarking on a new chapter of life, characterized by leisure and exploration, yet fueled by factors such as lower costs of living. According to the Social Security Administration, an estimated 450,000 Americans have retired abroad, with 38% of them opting for Europe as their retirement destination. Many of these individuals are increasingly realizing that they haven’t saved enough to maintain their current living standards during retirement, hence explaining the move. Recent studies, including one conducted by the Transamerica Center for Retirement Studies, reveal that the median retirement funds for baby boomers amount to just $202,000, while Charles Schwab's latest findings assert that Americans now need $1.8 million to maintain a comfortable lifestyle during their retirement years.
Faced with a significant disparity in retirement savings and uncertainty surrounding the future of social security funds, these Americans are seeking solace in other countries to reduce their cost of living, and hopefully enjoy a more comfortable retirement. According to Social Security Administration reports based on 2021 data, 71,376 Americans have been receiving their social security checks in Canada, 53,909 in Japan, and 32,957 in Mexico. Other popular overseas retirement destinations for Americans include the UK, Germany, the Philippines, and Poland.
In the US, the average retiree is said to spend $4,345 on monthly expenses. Meanwhile, many countries in Europe offer a much more affordable cost of living while maintaining a high quality of life. As an example, some of the best places to retire in Europe like Gothenburg in Sweden, Antwerp in Belgium, and Prague in Czech Republic, boast modest monthly living expenses, averaging $1,763, $1,732, and $1,479, respectively. Locations like Lisbon in Portugal offer affordable living at just $2,000 per month, while Valletta in Malta, boasts an even more affordable monthly cost of living at $1,580.
Conquering Language Barriers in Europe
While retiring to Europe can be a dream come true for American retirees, one challenge that they often encounter when living in certain European destinations is the language barrier. Even though English is the primary language in many countries, there are regions where it is not spoken as much. Due to this, individuals may have difficulty in managing day-to-day interactions, such as navigating routine healthcare, going grocery shopping, or even engaging with the local community.
Several language platforms exist that can help such retirees learn the language of the new country they are going to. Examples include Duolingo, Inc. (NASDAQ:DUOL) and MemBot. Duolingo, Inc. (NASDAQ:DUOL) is an American technology company that provides language courses through its application. This popular language learning software has increasingly been using Artificial Intelligence to enhance its services and boost growth. Duolingo Max, a paid version costing $29.99 per month, was launched in March 2023 to help users learn better through AI. Duolingo Max uses OpenAI GPT4, offering AI-powered features to users such as "Role play" and "Explain My Answer".
Through the Role play feature, users can practice real-world conversation skills via an AI chat box. The responsive and interactive AI can be used by retirees to carry out daily instructions in the language being learned, such as ordering a coffee, visiting a health care professional, or even asking for directions. Meanwhile, the Explain My Answer feature allows users to assess why their response was correct or incorrect. Currently, the only two courses that can utilize these AI features are Spanish and French for English speakers, and that too, on iOS. The features will be rolled out to more courses and platforms soon, says Duolingo.
Meanwhile, MemRise Inc., a British language platform, has been giving Duolingo, Inc. (NASDAQ:DUOL) some tough time through its MemBot. According to Memrise Inc., Membot is free to use, and its paid version costs only $9.99. Moreover, while Duolingo Max is still not available on all platforms, MemBot is. Duolingo Max is also confined to Spanish and French for English speakers. However, MemBot is available in a multitude of different language combinations already. Nevertheless, both of these language learning tools offer retirees a valuable means to enhance their language skills for a smoother transition to their new country.
How to Retire in Europe
Europe is considered an expat haven, home to more than 2 million foreign individuals in the region. To retire to a European country of your liking, the first step is to determine whether they are issuing a retirement visa. A retirement visa is a residence permit that allows an individual to spend their retirement years in a foreign country, usually for a period between 1 and 5 years. Portugal, Malta, Italy, Bulgaria, and Ireland offer retirement visas for individuals who wish to retire to their country.
Spain is an easy country to gain citizenship as an American, and retirees can gain visas through their Non-Lucrative Resident Visa scheme. The visa requires applicants to have monthly funds equating to €2,259 or $2,411, as well as private health insurance to cover the duration of their stay. Similarly, Malta is also an easy country to retire to, with the income requirement for living in the country being less than $1,000.
As Europe continues to draw in retirees with its diverse cultural experiences, scenic landscapes, and high quality of life, the availability of retirement visas in select countries adds an enticing pathway to fulfilling their dreams of living out their retirement years on the continent.
17 Best Places to Retire in Europe for English Speakers
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Methodology
To compile the list of best places to retire in Europe for English Speakers, we listed out English Speaking Countries in Europe as well as European cities and regions that scored high on the EF English Proficiency Index 2022. The index ranks cities and countries by the English skills of its inhabitants. Next, we scored them based on their EF EPI scores.
The scores in the lists have been compared to the global average EF EPI score of 502, categorizing them as either medium proficiency (above 525) or high proficiency (above 600) regions. Next, we scored these places based on our rankings for the best places to retire in Europe and the best countries to retire overseas where English is spoken. Scores were summed up and places were ranked in an ascending order from the lowest to the highest scores.
Here are the best places to retire in Europe for English speakers:
17. Rome, Italy
Insider Monkey Score: 1
Rome, Italy is home to English speakers having medium-level proficiency in speaking English. Its EF EPI score is 566, reasonably above the average global score which is 502. The locals speak English as a second language, and it is possible to get by without learning Italian. However, an occasional ciao or grazie can add charm to your daily conversations.
16. Paris, France
Insider Monkey Score: 3
The most obvious English-speaking hub in France for retirees is Paris. Nearly 30,000 foreigners live in the country, making it easier to use English as a means of communication. However, Parisians do appreciate if you make an effort to speak their language. The EF EPI score of Paris is 585, greater than the global average of 502.
15. Athens, Greece
Insider Monkey Score: 4
Even though the official language in Greece is Greek, retirees will find many locals speaking English, especially in big cities like Athens. The EF EPI score is 587, reasonably above the global average score of 502. Expat communities have the most people speaking the language, who largely prefer living in suburbs such as the northern suburbs of Chalandri and Filothei and the southern suburbs of Faliro and Glyfada.
14. Madrid, Spain
Insider Monkey Score: 4
One of the primary factors that positions Madrid as a top retirement destination in Spain is the abundance of English-speaking communities, complemented by its high-quality healthcare system. With an EF EPI score of 572, it is categorized as having a moderate level of English proficiency for speakers in this region.
13. Budapest, Hungary
Insider Monkey Score: 5
Hungary is one of the best places to retire in Europe on a budget. The beautiful town of Budapest, in particular, attracts retirees for its rich history, cultural heritage, and affordable living. It is especially attractive to English-speaking retirees because of its welcoming atmosphere where locals speak English, its thriving expat community, and excellent healthcare system. Budapest's EF EPI score is 602, well above the global average.
12. Bratislava, Slovakia
Insider Monkey Score: 6
The charming city of Bratislava appeals to retirees because of its affordable lifestyle and proximity to the rest of Europe. With an EF EPI score of 607, the country is home to a significant number of residents who demonstrate a high level of proficiency in English.
11. Bucharest, Romania
Insider Monkey Score: 7
Even though Romanian is one of the easiest languages for English speakers to learn, most of the friendly residents in Bucharest can speak English too. The Eastern European capital boasts an EF EPI score of 609, indicating a very high level of English proficiency among its residents.
10. Warsaw, Poland
Insider Monkey Score: 8
Another place that makes it to our list of best places to retire in Europe for English speakers is Warsaw, Poland. Scoring 614 points in the EF EPI index, it ranks 10th among the most highly proficient regions in Europe when it comes to English language. More than 60% of the locals in the country speak English.
9. Brussels, Belgium
Insider Monkey Score: 12
Brussels is one of the best places to retire in Europe as an American due to its thriving expat community, cosmopolitan atmosphere, and good quality of life. It is especially popular amongst English-speaking expats. The EF EPI score of Brussels is 620, well above the global average score of 502.
8. Helsinki, Finland
Insider Monkey Score: 12
High quality of life, modern and efficient amenities, as well as strong emphasis on English language proficiency, make Helsinki one of the best places to retire in Europe for English speakers. Its EF EPI score is 635, which makes it one of the most proficient English-speaking places.
7. Oslo, Norway
Insider Monkey Score: 12
Boasting a high quality of life, excellent healthcare, and natural beauty, Oslo stands as one of the best places to retire in Norway. Its EF EPI Score is 635, which is well above the global average.
6. Lisbon, Portugal
Insider Monkey Score: 12
Portugal is one of the cheapest English-speaking countries to retire to, with individual expat retirees living as low as $2,000 per month. Lisbon, in particular, is revered for its rich heritage, modern amenities, and healthcare facilities. English is highly spoken in Lisbon and the surrounding towns of Cascais, Costa da Caparica, and Ericeira.
