A recent article published by the Cyprus Mail on April 2 highlights how Cyprus is rapidly becoming a hit destination for American retirees over 65 who are looking for a new life free from the current US President’s second-term restrictions, which are inevitably bringing drastic changes to the economy. In response to rising healthcare costs and unsustainable living expenses, many Americans approaching retirement are joining a wave of migration out of the country, choosing to move their assets and lives to the Mediterranean coast, where low crime rates, a 5% flat tax on foreign pensions, and low cost of living seem like good options.
The data that follows focuses on Americans who are part of the “Silver Wave”, a surge of nearly 12,000 U.S. natives who will be eligible for retirement between 2025 and 2027. As citizenship candidates arise, the US Council on Ageing has cited ‘the inability to meet basic needs under Trump’s government” as the main reason why many have left the United States’. Expats appear particularly drawn to Cyprus’ healthcare system, along with high safety and widespread English across the Island. A stark contrast to the American system, which is currently facing a 2.3% rise in inflation according to recent estimates.
As seen before, the article draws attention to social factors motivating Americans to relocate, including crime rates and health expenses. According to a Pew Research Center report, the country has a homicide rate of 7.5 per 100,000, while Cyprus has recently been ranked as the 25th Best Country in the World for American retirees by US news thanks to its low crime rate and top quality of life comparable to the United Kingdom.
The piece suggests that the high rate of American retirees relocating abroad, and to Cyprus, reflects a strong desire for a new lifestyle, especially among those with the financial means to pursue their comfort. It is also explained how various parts of the Island, from Livadia to Oroklini and Paphos, appeal to Americans with their green spaces and affordable healthcare. In the end, the article states that for these people, Cyprus is the epitome of affordability combined with a true sense of belonging, making it the ideal destination to fully live in retirement.
