RP eyes 1% of 1-B foreign retirees
Bacolod City (2 April) -- The Philippine government is on a campaign to attract at least one million retirees from the projected one billion foreign retirees across the globe over the next fifteen years.
In a press conference here, retired police chief Gen. Edgardo Aglipay said they are particularly targeting Filipino retirees from dollar rich countries and rich Asian neighbors.
The campaign theme “Smile at Life in the Philippines,” seeks to promote the country as a retirement haven of Southeast Asia.
He said the country could very well compete with Spain that has captured a huge number of retirees from around the world, making them a richer country in Europe.
Climate, cost, security, scenery, and the quality service of our health personnel are among the factors that make the Philippines an attractive place to host retirees.
He said retirees, particularly some Americans, are looking outside the United States to stretch the value of their pension.
Retirement villages abroad charge about $4,000 per person, while a local counterpart here charge roughly about $1,200, Aglipay said.
The Philippine Retirement Authority has accredited about 70 facilities in the country having passed the standards set by foreign retirement authorities.
Aglipay reported that the country earned some $170 million last year as revenues from the retirement industry.
In return, Aglipay said PRA has a standing agreement with the DSWD to put up a retirement for the poor citizens of the country. (PIA-LOL) [top]