7 budget-friendly retirement destinations where you can live the dream

Morocco: $464 (£368) monthly living cost

Monthly living costs excluding housing in Morocco are the most affordable in our round-up, at $464 (£368) per person. That's roughly half of what it costs to live in the UK, US, or Canada.

Restaurant meals are very reasonably priced and groceries are cheaper than in any of the other countries in this round-up. Expect to pay just over $25 (£19) for a mid-range three-course meal for two, while milk, meat, and bread are all a fraction of what they cost elsewhere.

Vietnam: $466 (£369) monthly living cost

Of course, Vietnam's mega-low cost of living is the deciding factor for many older expats. Excluding housing, the monthly cost of living typically stands at just $466 (£369) per person.

Vietnam is the cheapest country out of our 10 picks for dining out: an inexpensive meal averages a shade over $2 (£1.60). It also has the most affordable transportation and leisure activities, with a cinema ticket costing a little over $4 (£3) on average.

Türkiye: $516 (£409) monthly living cost

Türkiye boasts abundant retirement appeal. The nation's many attractions include its wealth of heritage sites, beautiful beaches, and hospitable people, while the climate in its coastal regions is warm in summer and mild during the winter.

Türkiye is also one of the world's leading medical tourism destinations, with healthcare generally good in the country. Crime rates are low compared to the global average.

Thailand: $556 (£441) monthly living cost

Thailand, which is often fittingly referred to as the "Land of Smiles", has emerged as a magnet for expat retirees, particularly those who are keen to live lavishly on a shoestring budget.

The country is something of a paradise for seniors, boasting fantastic cuisine, friendly people, low crime rates, an outstanding healthcare system, and a tropical climate with breathtaking beaches. What's more, older people are highly valued in Thai society.

Montenegro: $652 (£516) monthly living cost

The monthly cost of living for one person (minus housing) is only $652 (£516).

You can enjoy a meal in an inexpensive restaurant for under $10 (£8), and food and drink prices are generally on the low side.

Public transport and taxi fares are also very affordable, as is entertainment, with a cinema ticket costing just over $5 (£4), compared to $14 (£11) in the US and $13 (£10) in the UK

Portugal: $716 (£568) monthly living cost

Renting can be a tad more expensive than it is in Spain. That said, it's still affordable: a one-bedroom property located outside of the centre of town typically costs $789 (£625) per month to rent. If you're planning to buy your own property, you can expect to pay around $212 (£168) per square foot for an apartment away from the city.

Public transport and petrol prices are also slightly more expensive in Portugal than in Spain. Thankfully, these differences are offset by the lower cost of utilities, which average out at $120 (£95) per month for a standard apartment.

Spain: $758 (£600) monthly living cost

Sunny Spain has been enticing foreign retirees for decades and boasts a sizeable older expat community.

Renowned for its wonderful weather, vibrant culture, and exemplary healthcare system, the Iberian nation also has low crime rates, with violent offences few and far between.

Adding further to its appeal, Spain is one of the world's most senior-friendly countries. Foreign retirees can even qualify for heavily subsided holidays courtesy of the Spanish government