Italy has emerged as a leading retirement destination in Europe for Americans looking abroad, according to a new report from immigration consultancy Get Golden Visa.
The firm’s “American Retirement Exodus” report ranks Italy fourth among European destinations, based on U.S. Social Security recipient data and increasing Golden Visa inquiries from American retirees. Social Security Administration data shows roughly 15,465 U.S. retirees currently receive benefits there. The report draws on market data and insights from the firm’s international investor base, which has included clients from 47 nationalities since 2022.
The decision to leave the United States is rarely impulsive, according to the report. Get Golden Visa cites rising living costs, political polarization, healthcare expenses and long-term financial uncertainty as key factors leading Americans to consider retirement abroad. The firm notes that a comfortable retirement in the U.S. once required approximately $1.28 million in savings — a benchmark many households now struggle to reach, with around 81% of Americans concerned their savings will not last through retirement.
Policy changes across Southern Europe are also influencing retirement decisions. Spain, previously a leading destination for lifestyle relocators, has seen reduced appeal following the closure of its Golden Visa program and a proposed 100% real estate tax on non-EU citizens, the report said.
Italy has drawn increased attention from American retirees, particularly due to its residency options. The Italy Golden Visa program has attracted interest from investors seeking residency in Europe, including those considering relocation in the future. The program offers a residency pathway starting with a €250,000 startup investment.
“Italy’s Golden Visa is gaining attention because it offers a clear investment pathway starting from a €250,000 startup investment to residency while allowing investors to establish a foothold in Europe before making a full relocation decision,” said Murat Coskun, managing partner at Get Golden Visa.
Get Golden Visa, which has supported clients across 16 residency and citizenship-by-investment programs worldwide, said it has been tracking what it calls the “American Exodus” trend through an ongoing research series. Based on investor inquiries and interactions, the firm said a pattern has emerged of American retirees increasingly moving overseas, with Italy among the destinations attracting interest this year.
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