A man rides a bicycle past a Civil Defense vehicle in Akrotiri village, located near RAF Akrotiri, a British sovereign base in Cyprus that was hit by a drone early Monday. [Yiannis Kourtoglou/Reuters]
Cyprus is emerging as one of the world’s most attractive places to retire, as rising living costs in major economies push more people to look abroad for a more affordable life.
In a report highlighted by Fortune, the island ranked at the top of a new global list of retirement destinations for 2026, tying with Ireland, while traditional options like the US and the UK failed to make the top 15.
The ranking, compiled by Hoxton Wealth, reflects a growing shift: For many retirees, staying home is no longer financially viable.
Across the US and UK, rising costs for housing, healthcare, and everyday essentials are eroding retirement savings, even for those who planned ahead. Some retirees are cutting spending sharply. Others are returning to work. Increasingly, many are considering relocating altogether and Cyprus is among the countries benefiting from that trend.
The report points to the island’s relatively lower cost of living, particularly outside major urban centers, along with favorable tax policies, widespread use of English, and a warm climate with more than 3,000 hours of sunshine a year.