Over the past decades, life expectancy has been relatively increasing by about two and a half years per decade. Generation X (Baby Bust) will be entering retirement age in five years, while the Baby Boomers Generation is already at the peak of their golden years. According to the United Nations (2019) edition of World Population Ageing there were 702 million persons aged 65 years old and over in the global population. This number is projected to double to one and a half billion in 2050. Globally, the shared population aged 65 years old or over increased by 6 percent in 1990 to about 9 percent in 2019. Hence, this segment of older adults shows a significant market to develop and improve.

The increase in life expectancy influenced the decisions of individuals on their life course such as when to have children, when to study or when to start work. One of the most crucial decisions in life is when and where to retire and how much to save for retirement. Based on previous studies it was discovered that most of today's retirees are healthier, richer, more educated, more independent, free from obligations, and not afraid to seek and try new adventures and experiences compared to the past [1]. They also have more travel experiences whether personal or work-related that inspire them to explore more even after retirement. After retiring from their professional working life, some still continue to work part-time but most of them dedicate their life pursuing leisure activities that interest them and that includes traveling.

According to the report on forbes.com (2019) there are three stages of retirement. First stage is called the accumulation stage. It ideally starts the day someone enters the workforce until the age of 55. This stage incorporates creating a budget, minimizing debt, understanding the impacts of time and compounding, choosing the right amount of investments and adding layers of protection in terms of the insurance. The second stage is the pre-retirement stage. It starts at the age of 55-   about 12 years from the age of real retirement. It is the stage where saving rates go up and debt goes down. People already think clearly and more seriously in saving up for retirement. The last stage and most important is the retirement stage. If the retiree has been diligent during the pre-retirement years they will surely enjoy this season. It is time they can finally reward themselves from all the hard work during their working life. It is the time to relax for many people. A question that many matured adults is asking is: is there really a well- prepared retirement? Planning for retirement is like planning for a long- awaited trip. Sometimes it never goes quite as planned but it is always better to have a plan that can be changed and adapted to current needs and trends than have no plan at all.

The increase in life expectancy influenced the decisions of individuals on their life course such as when to have children, when to study or when to start work. One of the most crucial decisions in life is when and where to retire and how much to save for retirement. Based on previous studies it was discovered that most of today’s retirees are healthier, richer, more educated, more independent, free from obligations, and not afraid to seek and try new adventures and experiences compared to the past [1]. They also have more travel experiences whether personal or work-related that inspire them to explore more even after retirement. After retiring from their professional working life, some still continue to work part-time but most of them dedicate their life pursuing leisure activities that interest them and that includes traveling.

International Retirement Migration (IRM) commonly known as Retirement Tourism or Long-Stay Tourism is a form of human mobility that involves the movement of the elderly to different places or countries that can offer them a better quality of life for their golden years. It is influenced by different factors such as personal resources, interpersonal and social factors, security, culture, and community. It gained its popularity in the 1900s when an Englishman formed coastal towns in the rural areas of France, Belgium and Spain. From then it continued to develop until the present as many elderlies sought worthwhile experience after retirement. Other factors that contributed to its popularity are demographic and social change, economic growth, improved transport and communication, political changes, longevity, and improved lives of the retirees [2]. IRM may be viewed as temporary (seasonal) or permanent (retirement tourism).

Several countries in Southeast Asia have started to offer attractive packages for long- stay tourists and retirees. Among them are Malaysia's "Silver Hair" program in 2002 and "Malaysia My Second Home" in 2006, Thailand's offer of a one-year renewable visa to retirees, Vietnam is promoting Na Trang, and Cambodia is promotion of Sihanouk to foreign retirees. In 1985, the Philippines started the Special Resident Retiree's Visa (SRRV) program.

The growth in older populations, as well as changes in older adults’socio-demographics and travel patterns have made the older segment an appealing target population for the global tourism and travel industry.The older adults’ segment is attractive not only because of its current size but also their purchasing power which contend that it is going to continue to grow rapidly in the next decade or two.

The increase of foreign retirees in the country will help to stimulate the Philippine economy by increasing the inflow of foreign exchange, investments, and technology transfers. Retirement is a significant milestone for many individuals, and the Philippines offers a unique and vibrant culture, favorable climate, and affordable cost of living that may appeal to many retirees. By encouraging more retirees to spend their retirement years in the Philippines, the PRA can help to create jobs in the local economy and increase demand for goods and services, leading to a more prosperous and vibrant community [3].

Additionally, the PRA can help to attract foreign investment into the Philippines, which can further stimulate economic growth and create additional job opportunities. As more foreign retirees choose to invest in the Philippines, they may choose to start businesses, purchase real estate, and make other investments that can create jobs and generate income.

Overall, the foreign retirees plays a crucial and important role in helping to stimulate economic growth in the country. They can create new opportunities for employment, generate income, and contribute to the overall well-being of the Philippine economy.   https://pra.gov.ph/mandate-vision-and-mision

Research Design

The study used the descriptive method which involves a qualitative approach with in-depth interviews. Descriptive research is a scientific method that involves both observing and describing a subject without influencing it in any way [4]. This method is deemed most appropriate by the researcher because of its effectiveness in analyzing non quantified topics and issues. This method also leads to knowledge of opinions, attitudes and practices and often leads to discovery of cause and effect factors.

In-depth interviews of potential retirees were conducted to explore their perspectives on retiring in the Philippines. A sample draft of questionnaire was forwarded to the Ethics Department to check and assess whether the questions would raise any relevant ethical concerns. The outcome of the in-depth interviews with potential retirees was used as a basis for improvement of the guidelines and programs of the Philippine Retirement Authority and other tourism stakeholders involved in Retirement Tourism in the Philippines.

The setting of the study is in secured video platforms like Skype, Messenger, Whatsapp, Viber, Zoom and Google meets. These are cloud-based video conferencing platforms that can be used for video conferencing, meetings, audio conferencing, and webinars, meeting recording and live chats. By using these platforms, the researchers were able to connect to "hard to reach" key informants that are outside the region or country without limiting the geography. Alternative procedure is a face-to-face interview in Metro Manila.

Key Informants of the Study

The target key informants of the research study were a total of 30 potential and current retirees who are either frequent travelers to the Philippines, expatriates working in the Philippines, or actual retirees. The number was based on the quantitative tool developed by Fugard and Potts that estimates sample sizes needed for thematic analysis of qualitative data. Thirty participants would be required to reach saturation in studies that used in-depth interviews. Saturation is the point at which the data collection process no longer offers any new or relevant data. The main target nationalities are Korean, American, Chinese, Japanese and Indian-for. These nationalities have accumulated a large percentage share in terms of tourist arrival and expatriates in the Philippines over the past years. However, the research is also open to other nationalities that will fit the inclusion criteria of the study.

http://www.tourism.gov.ph/industry_performance/Dissemination_forum/201 9_ Tourism_Industry_Report.pdf-

Sampling Technique

The key informants were chosen using purposive sampling also known as subjective sampling or judgment selective. It is the process of selecting a sample by taking a subject that is not based on level or area but on a specific purpose of the study [5]. The aim of this sampling technique is to concentrate on the particular nature of the respondents that will be beneficial to the study and can answer the research questions. This is to guarantee that the participants are selected based on the need of the study. The majority of the key informants will be sourced from online platforms such as Facebook groups (Expats in the Philippines), referrals of family and friends and lastly personal acquaintances of the key investigator that fit the criteria as key informant.

Profile of Key Informants

The following is an overview of the key informant's background. Each key informant is named by number all throughout the study. It is important to keep true to key informants' styles and statements throughout their stories. When highlighting key informants' quotes, there may be some grammatical and sentence structure errors.

All the 30 key informants are male and majority are at the age above 50 years old (70%). Most of them are American (46.67%), followed by British (16.67%), Asian (13.33%), European (10%), and lastly mixed nationalities (6.67%).

Key Informants Background –Commonalities

More than half of the key informants (53.33 %) are still currently working either in full and part time career. A large percentage of then (76.67 %) are married or in a relationship with Filipina. Most of them also visited the Philippines more than 10 times (76.67%). Biggest share are holding tourist Visa (33.33 %) and some of them are staying or have stayed in the country for than a year (40%). Based on the Data also majority prefer to stay in the provinces (60%).

The researcher designed an interview guide as part of the data collection process of the study. Questions relating to the decision-making process of potential and current retirees in the Philippines were asked during the interview. Part 1 of the interview questions consisted of the demographic profile of the respondents; part 2 assessed the attitude of the respondents, as well as the push and pull factors of migration and the challenges of retiring in the Philippines.

The result of the in-depth interview was analyzed using Thematic Analysis. It is a method for analyzing qualitative data that involves exploring data sets to identify, analyze and report repeated patterns (Braun and Clarke, 2006). Thematic analysis is a significant and powerful method to use when seeking to understand a set of experiences, behaviors or thoughts across a data set. The researcher followed 6 steps framework [6]. This consists of the following:

a.) Data familiarization, b.) Generating initial codes, c.) Theme Searching, d.) Reviewing Themes, e.) Defining Themes and lastly, f.) Producing the report or manuscript. The main objective of thematic analysis is to identify themes that can be used to address the research. A theme is a 'patterned response or meaning' derived from the data that inform the research questions.

Interviews were transcribed solely by the researcher. Key informants were informed that only the key investigator, adviser, and examiners had access to the transcribed material. Data will only be accessed via a password on a computer and will be kept for three years after the study has finished, with the view to the possibility of developing the research in the future. Participants were reminded of their right to withdraw or take a break from the study and were provided with information on where they could access support. At no point during this study did interviews have to be paused or terminated.

Philippine Retirement Program

The Philippines offers different retirement programs to foreign retirees depends on what suits them. Each program comprises of attractive benefits but not as attractive compared to the other top retirements countries like Panama, Costa Rica and for Asia, Malaysia and Thailand. If it will be compared to the top retirement destinations,  the Philippines has a lot to improve on such as access to good healthcare system which is a big factor considered by retirees, a big challenge now in the country not only to foreign retirees but also to locals. Another thing is the

Standardization and impressive visa program which attracts many foreign retirees to our neighboring ASEAN countries, Thailand, and Malaysia. Enticing perks and discounts are also added factors.

Attitude of Retirees

The key informants expressed their thoughts about how comfortable and cheap to live in the Philippines, as the cost of living is cheaper compared to their home country. However, few key informants found rentals and medicine more expensive in the Philippines compared to its neighboring ASEAN countries. The cost and process of immigration are making it not so attractive among the experienced key informants.

Almost all key informants felt safe during their stay in the country. In terms of healthcare, key informants living in big cities like Metro Manila found it not an issue since there are many good medical facilities available in the city. On the other hand, key informants who have stayed or are currently staying in the provinces found it very challenging in terms of access to good quality healthcare.

Key informants admired the hospitality of Filipinos who made them feel welcome or accepted all the time. Another factor that attracts retirees to the country is the low cost of living, as many shared that they might not be able to afford the same lifestyle they have in the

Philippines if they choose to stay and live in their home country. Staying in the Philippines allows them to retire early and live comfortably on their pension alone.

Throughout the time of the pandemic, key informants shared their dismay at how strict the country is in terms of guidelines. However, some of them found this strictness a good thing and think the Philippines did a good job in handling the pandemic. The friendliness of Filipinos made key informants comfortable in asking for help when needed. But some traits that Key informants found irritating in the country is skin tax and driving. Key informants felt that sometimes locals were taking advantage of them because they are foreigners.

Personal relationship of key informants with locals was also a major contributing factor to why they choose to stay in the Philippines.

Majority of the key informants said, they will promote the Philippines if given a chance and some of them are already doing it by posting it on their social media platforms.

Push and Pull Factors

Personal relationship, economic and weather were the top main reasons why majority of the key informants leave their country and decide to stay in the Philippines. Key informants, especially those who are from countries with heavy winter season love the warm weather in the Philippines and it somehow improves their health too.

Language, government offices, and driving in the country are the top 3 mentioned challenges of key informants in the Philippines. Some key informants have difficulty not only in communicating through the English language but also with multiple local dialects. Dealing with government offices in the Philippines is also a headache. Bureaucracy, red tapes, and delays in response were just some of the issues mentioned. Driving in the Philippines is something that was consistently raised by key informants that they find very challenging.

Unforeseen events in the future and the Philippines' relationship with China were also topmost concern among the key informants which might affect their decision to leave the country. Unforeseen events like family matters in their home country, calamities and restrictions are also considered.

Based on the findings of the research, the following conclusions were drawn:

• The Philippines is a great retirement destination for most key informants but needs improvement in terms of benefits when compared with other top retirement
• The hospitality and friendliness of the Filipinos to foreigners, particularly retirees, help the retirees to feel safe and welcomed. Personal relationship (affective behavior and pull factor) is a major contributing factor to why key informants are staying or want to stay in the Philippines for retirement. Economic consideration and warm weather (cognitive behavior/ pull factor) are just secondary factors but not as important as social connections.
• The Retirement Program in the Philippines can be improved if the challenges discussed can be addressed properly, especially bureaucracy and traffic condition in the Philippines.
• Overall based on the data gathered from Key informants' interviews, the key investigator concludes that the Philippines is a great place for retirement, and highly promotable as a country of retirement.

The completion of this undertaking could not have been possible without the participation and assistance of so many people whose names may not all be enumerated. Their contributions are sincerely appreciated and gratefully acknowledged. However, I would like to express my deep appreciation and indebtedness, particularly to the following:

To Dr. Ma. Cristina Williams for her endless support, guidance, and patience with me in doing this research.

To Dr. Maricar Ching, Ms. Roselle Lopez and other graduate school personnel for their continuous support and guidance to the students even during the pandemic.

To my panel members, Dr Miguela Mena, Dr Lilibeth Aragon, Dr Amelia Butial and Dr Maricar Ching thank you for the thoughtful, valuable inputs and detailed feedback on my paper during the course of this study.

To my family and friends in one way or another shared their support, either morally, physically and emotionally.

I would also like to express my gratitude to my key informants who have shared their precious time and trust even they don't know me personally. I appreciate all the sincere answers and help in the research.

Thank you very much.

Funding for this research was solely provided by the researcher.

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