The ranking, presented by Moving to Spain, rated countries based on factors including cost of living, house prices, life expectancy, safety, the population aged 65+, healthcare, beach quality and visa accessibility.

Within Portugal, the beaches and sunshine of the southern Algarve region mean it is often the go-to destination for retirees.

Portugal is also ranked as the world’s best country for wine tourism in a new report by Bounce, which considered factors such as wine production and consumption, wine tours, number of vineyards and the average cost of a bottle of wine. According to the report, more than 2% of Portugal’s total land is covered in vineyards.

Alda Filipe, Sales and Marketing Director, Kronos Homes said: “When it comes to retirement, an affordable and active outdoor lifestyle – with plenty of sunshine and world-class wine thrown in for good measure – sounds like the ideal combination for many people. Portugal provides all this and more. The country is safe, hospitable and home to a huge range of picturesque landscapes, just waiting to be explored. The Algarve also has a lively cultural scene, from traditional music performances to museums to its active international art community. It’s somewhere that you can shape retirement around your own interests.”