Fresh from being named the top retirement destination in a TripZilla survey of 100,000 travellers, the Philippines Retirement Authority (PRA) is riding a post-lockdown rebound and scaling up its ambitions.
“In 2024, we achieved 99 per cent of our target,” said Roberto Zozobrado, adding that for 2026, the authority has raised its goal, with January 2026 figures already reflecting “an increase of 25 per cent” year-on-year.
The Philippines currently hosts more than 84,000 foreign retirees, with 40 per cent from China, followed by South Koreans, Indians, Americans and Taiwanese. English proficiency remains a structural advantage.
“It is very easy for foreigners to really become immersed into the community because of our ability to speak the English language,” Zozobrado said.
The economic spillover extends beyond long-stay arrivals. “Every retiree is required to make a visa deposit, which we hold under their name in one of our accredited banks,” he explained, noting this boosts foreign currency reserves. Retirees may later withdraw the full sum with interest or channel it into condominium purchases, driving property demand. Retirees also contribute through local spending, volunteering and business investments in their host communities.
Healthcare has become central to the pitch.
“From the moment they come to the country, their first question is, where is it that I can easily get health care?” shared Zozobrado. A two-year-old initiative spearheaded by Zozobrado now makes foreign medical insurance portable across 200 accredited hospitals, addressing what he called “the biggest stumbling block” in attracting retirees.
Looking ahead, the PRA is targeting younger, financially capable Asians after lowering the minimum retirement age from 50 to 40. “Retirement these days is no longer based on age. It is based on financial capability,” he said, adding that marketing efforts are being intensified in Europe, Australia and Canada.
Zozobrado also cited the Annual Global Retirement Index 2025 by International Living, which ranked Panama first and Mexico fourth globally. Interestingly, ambassadors from Panama and Mexico chose to retire in the Philippines.
“You can see that even if other people perceive those other countries as a good retirement place, the people from those countries still prefer to come to the Philippines,” he said.
In the updated Annual Global Retirement Index 2026, Panama and Mexico were ranked second and fifth respectively.
