Retirement Tourism: A Study on the Decision-Making Process of Potential and Current Foreign Retirees to the Philippines

Crisolo G

Published on: 2023-06-06

Abstract

Retirement is something everyone will experience in their life. There has been a growing number of retirees over the decade, resulting in a different retirement trend among the elderly, wherein retiring abroad is among the developing recourse for them nowadays. This is commonly known as Retirement Tourism or Retirement Migration. This study focused on determining the decision-making process of Potential and Current retirees in the Philippine. The key informants were a total of 30 potential and current retirees who are either frequent travelers or have already settled in the Philippines. Qualitative data were gathered through in-depth interviews via secured online conferencing platforms such as Zoom and Messenger, as well as via face-to-face interviews. Results revealed that the Attitude components of a potential retiree, formed during multiple visits to the country as tourists or expatriates, as well as various Push and Pull Factors, greatly affect the decision-making process of a potential retiree. Top considerations for choosing the Philippines as a retirement country are the low cost of living, weather, and friendly locals. This is despite some negative media images, bureaucracy, driving conditions in the country, skin tax, and language barriers for the key informants. Other external factors that key informants consider are the Philippines' relationship with China and personal family matters. The country's healthcare system is surprisingly not a major concern for everyone.