By CFO

October 17, 2025

THE Philippines is positioning itself as one of the world’s premier retirement and tourism destinations, leveraging the warmth of its people, affordability, and natural beauty — while aligning with the Commission on Filipinos Overseas’ (CFO) mission to strengthen diaspora engagement and investment in the homeland.

In a recent interview on IBC-13’s The Chairman’s Report hosted by Secretary Dante “Klink” Ang II, chairman of the CFO, Philippine Retirement Authority (PRA) Chief Executive Officer Roberto “Bob” Zozobrado said the country is poised to attract thousands of retirees and returning Filipinos through its Special Resident Retiree’s Visa (SRRV) program under the Department of Tourism.

“The Philippines is not just a vacation spot — it’s a place to live your golden years in comfort and community,” he said.

“What truly makes the Philippines unique is its people — the hospitality, the care, the sense of belonging. That’s something money can’t buy.”

The PRA’s SRRV program offers foreign nationals and former Filipino citizens a long-term residency option with benefits such as tax incentives, healthcare access, and investment opportunities. The program has drawn retirees from the United States, Canada, Europe, Australia, and Asia — and increasingly, digital nomads seeking a flexible lifestyle in a tropical setting.

Zozobrado said the Philippines’ affordability and English proficiency give it a competitive edge over similar retirement destinations such as Spain, Portugal, or Malaysia, where investment requirements are higher.

“Our visa program is accessible and transparent — you don’t need to buy property to retire here,” he said.

Popular locations include Metro Manila, Cebu, and Dumaguete, with growing interest in Baguio, Tagaytay, and emerging eco-tourism destinations. However, Zozobrado acknowledged the need for more world-class retirement and assisted living facilities to serve the growing market.

“We need to build more integrated communities with healthcare, leisure, and security — not just condos,” he said, calling on investors to seize the opportunity to develop the industry.

The CFO, which promotes the welfare of Filipinos overseas and encourages their participation in nation-building, has expressed support for programs like the PRA’s that bridge the diaspora with investment and reintegration opportunities. Many former overseas Filipinos are now returning home to retire, bringing not only remittances but also expertise and entrepreneurial ventures that contribute to local economies.

“Retirement investment is another form of diaspora engagement,” Ang said.

“When former overseas Filipinos choose to retire in the Philippines, they reinvest their resources and experiences into the country, strengthening our global connection.”

Currently, more than 61,000 SRRV holders contribute to the Philippine economy through spending, property investment, and job creation. The PRA aims to expand that figure as it strengthens partnerships with local governments to provide accessible services and assistance to retirees nationwide.

Zozobrado added that the government’s broader tourism and diaspora strategy is a “win-win,” benefiting retirees, communities, and the national economy. “Every foreign retiree or balikbayan who settles here supports local industries — from healthcare to hospitality,” he said.

With the Philippine government’s renewed focus on tourism and diaspora engagement, the country’s transformation into a global retirement and lifestyle hub underscores a wider vision — a homeland that not only welcomes visitors, but also invites Filipinos abroad to come home.