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Exit Plan – How to Retire Abroad: Thailand

David Trood | Getty Images

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Exit Plan – How to Retire Abroad: Thailand

For many people, retirement means that there's finally time to take advantage of newfound freedom. If that definition of retirement appeals to you, an ideal destination when you leave the workforce may be Thailand.

Known as “Land of Smiles,” the country has undergone significant social and economic development in the past decade. In 2011, the World Bank upgraded the nation's income categorization from a lower-middle income economy to upper-middle income.

"Thailand boasts a very favorable cost of living structure for retirees," Jonathan Galaviz, Chief Economist at the Galaviz & Co. consultancy said in an e-mail. "The US dollar, even with its lower global value, still goes a long way."

The tropical climate and low cost of living make Thailand an enticing destination. However, there are many other things the prospective expatriate will want to know in order to make an informed decision.

CNBC.com consulted the Tourism Authority of Thailand, retirement experts, consulting specialists and others to gain insight into the nation’s economy, health care resources and other issues that retirees should weigh when relocating. Read ahead to find out more about making Thailand your own retirement haven.

By Daniel Bukszpan
Posted 12 September 2012

David Trood | Getty Images