19/10/2025
PHILIPPINES PUSHES TO BECOME WORLD’S FAVORITE RETIREMENT SPOT FOR FOREIGNERS AND BALIKBAYANS
The Philippines is strengthening its bid to become one of the world’s leading retirement and tourism destinations, combining natural beauty, affordability, and the genuine warmth of its people. This effort aligns with the Commission on Filipinos Overseas’ (CFO) mission to engage the Filipino diaspora and encourage investment back home.
In an interview on IBC-13’s The Chairman’s Report hosted by CFO Chairperson Secretary Dante “Klink” Ang II, Philippine Retirement Authority (PRA) Chief Executive Officer Roberto “Bob” Zozobrado said the country’s Special Resident Retiree’s Visa (SRRV) program continues to draw retirees and returning Filipinos seeking long-term residency.
“The Philippines is not just a vacation spot — it’s a place to live your golden years in comfort and community,” Zozobrado said. “What truly makes the Philippines unique is its people — the hospitality, the care, the sense of belonging. That’s something money can’t buy.”
The SRRV program offers foreign nationals and former Filipinos long-term stay privileges with tax incentives, healthcare access, and investment opportunities. Retirees from the United States, Canada, Europe, Australia, and across Asia have joined the program, along with a rising number of digital nomads looking for a tropical base.
Zozobrado noted that affordability and English proficiency give the country an edge over other retirement hotspots such as Spain, Portugal, and Malaysia. “Our visa program is accessible and transparent — you don’t need to buy property to retire here,” he said.
Popular retirement areas include Metro Manila, Cebu, and Dumaguete, while Baguio, Tagaytay, and eco-tourism destinations are emerging favorites. However, Zozobrado stressed the need for more integrated retirement and assisted living facilities, urging investors to help expand the industry.
“We need to build more integrated communities with healthcare, leisure, and security — not just condos,” he said.
CFO Chairperson Ang said such initiatives also strengthen diaspora ties. “Retirement investment is another form of diaspora engagement,” he explained. “When former overseas Filipinos choose to retire in the Philippines, they reinvest their resources and experiences into the country, strengthening our global connection.”
The PRA currently counts more than 61,000 SRRV holders who contribute to the local economy through property investment, job creation, and spending. Zozobrado added that the government’s ongoing collaboration with local authorities ensures retirees receive accessible services while helping drive growth in tourism, healthcare, and community development.
This story originally appeared on The Global Filipino Magazine news page. Graphics and edits by Destination PH.
