Being in between two great bodies of water, the Pacific Ocean and the Caribbean Sea, Nicaragua is no doubt a magnificent tourist attraction. It is rich with rugged mountains, lush forests, fascinating lakes and large rivers, pristine powdery white coastal beaches, tiny tropical islands, and majestic extinct and active volcanoes that will leave you breathless and make you long to come back—and yes—live here for good.
In recent years, Nicaragua constantly appears in the list of top tourist destinations in the world primarily because of its fantastic natural sceneries and wide range of places of interest. And now, Nicaragua opens its doors to foreigners who are seeking for permanent residence for their retirement. In few more years, Nicaragua would surely be topping the list of best places for adventure and retirement. It may not be the best of the best just yet; but rest assured, Nicaragua’s one of the cheap places to retire.
Nicaragua’s name comes from the Nicarao, the tribe that inhabited the place before the Spaniards came to colonize it; and the Spanish word “agua,” which refer to the two major lakes in the country, the Lago Managua and the Lago Nicaragua. Several lakes and volcanoes can be found in Nicaragua; thus, it is also called as the “land of lakes and volcanoes.” Many come to Nicaragua because of these, but since Nicaragua is the largest country in the Central America and has relatively small population, a lot of travelers decide to settle here.
The government of Nicaragua highly encourages foreigners to spend their retirement years in the country. As part of their efforts in promoting it as one of the cheap places to retire, expatriates and foreign retirees are not required to pay taxes for out-of-country income, import household goods and vehicles. Consumer goods and basic commodities offered in several stores and shopping centers in the country are priced just right, so it’s practical to live here.
Still a big portion of Nicaragua is still highly forested and there are still many unexplored terrains, rainforests and many other exotic places perfect for adventure. More than just being one of the cheap places to retire, Nicaragua is one of the most exciting places to explore. If you love outdoors, this country can certainly make the rest of your life the most unforgettable. You can enjoy a full body workout by climbing up volcanoes like the famous Mt. Concepción and Mt. Maderas or visit Volcano Mombacho Natural Reserve and be fascinated by the mystic beauty of trees suspended above the ground resembling a canopy. You don’t have to spend much for such natural treasures. Only cheap places to retire like Nicaragua can offer them nearly for free.
In the island of Ometepe, you can take delight in numerous beaches that are still untouched by development but their beauty beckons and you cannot just resist. Being undeveloped, these spectacular beaches are far below the price of comparable first-class tropical beach resorts. Lots near the beaches are sold as low as $22,000—this is a very generous deal for someone like you who’d go for cheap places to retire.
For ages, Nicaragua suffered a lot from civil wars, foreign invasions, dictatorships and in 1972, from a damaging earthquake but Nicaragua has gradually stood up from where it had fallen and now it’s resolute in heading towards a fully developed nation. While it is still in its initial stages, cost of living here is still very affordable, which is very favorable for those looking for cheap places to retire.
As one of the cheap places to retire, Nicaragua appeals mostly to middle class and simply for those who just want a change of atmosphere and lifestyle—something relaxed and worry-free. Top tourist destinations in Europe might be very tempting and inviting but they are very expensive. For sure you don’t want to live the rest of your life spending extravagantly when you can enjoy it countries like Nicaragua without ruining your financial plan.
Now Nicaragua is well-prepared to accept full-time retirees from all over the word. The government is working hard to erase misconceptions that it is a dangerous place as a result of different revolutions that took place in this beautiful country. Politics is now stable and there’s an increasing growth of shopping centers, hotels and restaurants since the late 90s. Their efforts to draw more tourists and foreign retirees seem to be fruitful as Nicaragua is now being regarded as one of the best yet cheap places to retire.