Uruguay Best Country to Retire

With its picture-perfect Atlantic coastline, bustling art scene, quaint seaside towns, and 16 national parks, Uruguay is the quintessential vacation destination, receiving over 3.8 million visitors annually. However, the country is also becoming a popular full-time home for expats and American retirees seeking a slower — and more affordable — pace of life.

Recently, the country was named one of the best places to retire by Global Citizen Solutions, an investment migration consultancy firm. Its capital, Montevideo, was also on U.S. News’s list of the most welcoming, LGBTQ+-friendly cities to retire overseas.

Global Citizen Solutions highlights Uruguay’s “favorable climate for retirees with four distinct seasons.” Because of its location — nestled between Brazil and Argentina — and low-lying topography, the country lacks any major mountain ranges. This keeps the climate fairly uniform throughout, with summer temperatures peaking in the low 80s and winters not much colder than the low 40s.

But what makes Uruguay, the second-smallest South American country, an excellent retirement destination is the level of safety and stable lifestyle it offers both residents and expats.

“The health care system in Uruguay combines public and private sectors, ensuring comprehensive coverage,” Global Citizen Solutions’s report states, adding that the “private sector offers faster and higher-quality services at a cost.” One of the most popular ways expats receive health care in Uruguay is through a mutualista, an affordable and high-quality hospital-based private plan, charging anywhere between $70 and $200 per month, not including co-payments. 

Safety is another primary concern of many seniors. This year, Uruguay ranked 52nd as the most peaceful nation in the world, and together with Argentina, which was 47th, the two countries were the only South American states in the top 60.

According to the BTI Index, Uruguay’s party system is one of the most stable in the world, with all institutions” performing their functions effectively and in accordance with the constitution and laws.” As of 2021, Uruguay, sometimes called “the Switzerland of South America,” had the lowest poverty rate in the region.

However, unlike its European counterpart, which is known for its high cost of living, residents of Uruguay need under $2,000 to cover their monthly expenses. This number is higher in Montevideo, which has the highest cost of living in South America, but it is still much more affordable than many of the largest U.S. metro areas.

“Consumer prices in Montevideo are 79.6 percent lower than in New York, and rent prices are 578.1 percent lower. This affordability makes Uruguay an attractive option for retirees looking for a comfortable yet economical lifestyle,” Global Citizen Solutions states.

And lastly, LGBTQ+ retirees wishing to spend their golden years in South America should seriously consider making Uruguay their permanent home as it is the fourth most LGBTQ+-friendly country in the world, only behind Iceland, Norway, and Spain. (The U.S., for reference, is 26th.)

You can read the full report of the best places to retire in the world on globalcitizensolutions.com.