Malaysia best place to retire in Asia (Poll Inside)

Merdeka spirit: A crowd enjoying their lunch under the colourful state flags at New World Park in George Town, Penang. — CHAN BOON KAI/The Star

KUALA LUMPUR: Malaysia ranks first in a list of the 10 safest places to retire in Asia, according to US-based financial services corporation Nasdaq.

In an article in its GoBankingRates section recently, the firm said the finding was based on data from the United Nations Pacific-Asia Region Group and gross domestic product (GDP) from WorldPopulationReview.

It also obtained cost of living figures from Numbeo and the Global Peace Index from the Institute for Economics and Peace Global Peace Index 2022 Report.

Nasdaq has also set a precedent that countries need to have a global peace index of under 2.0 to qualify, Bernama reported.

Top of the list is Malaysia, with a 1.471 global peace index and a US$1,066 (RM4,955) average monthly cost of living.

“Malaysia takes the number one spot with a cost of living index of 22.9 and a GDP of US$481.9 trillion (RM2.24 quadrillion). With average monthly expenses at just over US$1,000 (RM4,650), it’s an excellent place for retirees to consider,” it said. Runner-up in the list is Kuwait, with a global peace index of 1.739 and an average monthly cost of living of US$1,741 (RM8,090).

It said Kuwait’s cost of living index is not as low as some of the other countries on this list, at 37.4, but its overall cost of living combined with its global peace index score make it a great place to retire in.

According to Nasdaq, number three is Mongolia, with a global peace index of 1.775 and an average monthly cost of living of US$940 (RM4,370), adding that Mongolia’s cost of living index is tied for the lowest on the list with Indonesia at 20.2, but its GDP is the lowest on the list, at US$21 trillion (RM98 trillion).

At number four is Vietnam, with a global peace index of 1.786 and an average monthly cost of living of US$1,117 (RM5,190), followed by Indonesia (1.800/US$940 or RM4,370) and Jordan (1.849/US$1,331), Cambodia (1.882/US$1,387 or RM6,450), Oman (1.889/US$1,513 or RM7,030), Cyprus (1.903/US$1,964 or RM9,130) and Nepal (1.947/US$684 or RM3,180).