BANGKOK, Jan 9 — Thailand has been named as one of the "25 Best Places to Retire” by International Living in its Annual Global Retirement Index for 2022.

‘The Land of Smiles’ is ranked 11th in the report with an average score of 72.9, making it Asia’s top place to retire. Malaysia, ranked 15th, received an average score of 72.

Bangkok, Chiang Mai and Hua Hin are popular Thai cities among retirees.

The report said a single person can live in Thailand for around US$1,000 (RM4,209) a month, and apartment rentals can cost as little as US$400 to US$500 a month.

Panama has taken the number one spot in the Annual Global Retirement Index for 2022 as the world’s safest, most affordable and most welcoming country — with an average score of 86.1.

Costa Rica is in second place, while Mexico is third — followed by Portugal, Ecuador, Colombia, France, Malta, Spain and Uruguay.

International Living said the countries are ranked based on the scores given across 10 categories including cost of living, housing, visas and residence, development, healthcare, climate, special benefits and governance.

"International Living editors compile, rank, and rate a series of criteria including cost of living, buying and investing, healthcare, fitting in, special benefits, climate, etc. This is a qualitative assessment based on real-world data gathered on the ground,” it said.

International Living is a print and online media publication that provide a scope and depth of information about best places in the world to live, retire, travel and invest. — Bernama