July 19, 2024

The Aging Gracefully Index: where should you live when you retire?

  • The UK ranked 23rd, being beaten by countries including: Turkey, Czechia and Austria
  • Scores were determined across 7 factors, including the balance between old and young, how many over 65s emigrated from there, the quality of healthcare & safety, life expectancy, and life satisfaction.
  • Iceland ranked top as the best country for retirees

ConfidenceClub, a company with more than a little stake in seniors’ well-being, has released a study identifying the best cities across the globe for retirees.

The study looked at factors to rank countries and cities on their ability to support a fulfilling, secure, and healthy retirement.

How did the UK rank compared to other cities?

The UK was near the bottom of the list when it came to accommodating cities for retirees. The data showed the UK ranked 23rd out of 38 countries analysed. The UK performed poorly across Elder Balance score, which looks at the ratio of ageing population compared against old-age dependency from the OECD. A higher ratio suggests a greater burden on the working-age population to support the elderly, impacting everything from healthcare to pension systems. The UK also had one of the highest rates for over 65s emigrating at 1.1%. The UK also ranked around the middle range for safety and life expectancy.

Who were the winning countries?

The nation of Iceland scored top marks in this study, thanks to a perfect score in both life expectancy and life satisfaction.

You can view the full breakdown here: https://confidenceclub.co.uk/blogs/news/cities-that-enhance-quality-of-life-for-retirees

Rank Country Total Score Elder Balance Emigration Healthcare Safety Life Expectancy Life Satisfaction
1 Iceland 87 25.5 0.48% 68 75.8 82.68 7.6
2 Israel 85 23.1 0.11% 73.8 73.7 82.26 7.2
3 Finland 83 41.5 0.81% 80 75.4 82.04 7.9
3 Netherlands 83 34.7 0.84% 79.5 75.2 81.69 7.5
3 Switzerland 83 31.8 0.61% 70.4 73.5 83.99 7.5
3 Luxembourg 83 23.5 1.04% 78.2 70.9 82.63 7.4
7 Denmark 82 35.6 0.60% 76.3 74.2 81.38 7.5
7 Australia 82 28.6 0.10% 70.1 63.7 84.53 7.1
9 Norway 80 31.3 0.53% 78.1 66.4 83.23 7.3
10 South Korea 77 26.3 0.14% 83.1 75.6 83.7 5.8
Comparison UK 60 33.2 1.10% 74.8 50 80.74 6.8

Who were the winning cities?

When specific cities were analysed, pretty Reykjavik (pictured above) was the Icelandic city to win this round.

The Hague (Netherlands) and Tel Aviv (Israel) came a joint second, rounding off the top three cities for retiring in.

Rank City Country Total Score
1 Reykjavik Iceland 87
2 The Hague Netherlands 85
2 Tel Aviv Israel 85
4 Geneva Switzerland 83
4 Helsinki Finland 83
4 Zurich Switzerland 83
4 Eindhoven Netherlands 83
4 Rotterdam Netherlands 83
4 Luxembourg Luxembourg 83
4 Canberra Australia 83
4 Adelaide Australia 83
4 Sydney Australia 83

You can view the full breakdown here: https://confidenceclub.co.uk/blogs/news/cities-that-enhance-quality-of-life-for-retirees