NICOSIA – Cyprus has long been a favored vacation spot for Britons and is home to up to 90,000 expatriates. According to a survey by the United Kingdom’s Reassured, one of its largest life insurance companies, Cyprus was ranked 7th among the top 10 countries for retirees due to its cheap and sunny environment.

Greece was ranked first, followed by Portugal, Malta, Italy, Spain, and Cuba ahead of Cyprus. The report also noted that Cyprus benefits from its climate and history as a former British colony where English is widely spoken.

“If you are looking for a sunny retirement destination, then Cyprus is the perfect choice for you,” the study stated. “With an impressive 3,314.1 hours of sun annually, it’s practically summer all year round. In addition, with a reasonable cost of living index at 55.9, Cyprus is certainly more affordable than other Mediterranean locations.”

The study also considered other factors, such as average life expectancy, cost of living index, average accommodation costs, transportation expenses, and the percentage of the population over 65, as reported by The Cyprus Mail.

Despite its many benefits, Cyprus may not be the ideal retirement destination for everyone, especially the elderly, as the country has a relatively low population of individuals over 65, with just 14%, according to the study by Reassured, a major UK life insurance company. Additionally, the country has a high average monthly accommodation cost of $715.75.

Nevertheless, the study noted that Cyprus has a good life expectancy, making it a worthwhile destination for those seeking a brilliant location for their retirement.