More and more Italian retirees abroad. Albania boom.

More male Italian retirees are deciding to move abroad, while women are decreasing. There is a huge increase in the number of those choosing Albania. Remains stable , between 400 and 800 per year, the number of retirees returning to Italy from abroad.

According to the latest Inps report presented in Parliament by the  President of the Institute  Gabriele Fava (pictured) There are 228,600 Italian pensioners living abroad. Of these 37.825 are those who worked in Italy, accrued the right to a pension at home and then transferred their residence to other countries. Not included in this number are those who receive public sector pensions

The reasons for retirees moving abroad are mainly related to economic hardship, health problems, tax advantages, and more favorable climatic conditions.Between 2010 and 2019, the percentage of retirees moving abroad doubled from 10 to 20 per 100,000 retirees.In 2023, the share rose to more than 33 per 100,000

One particularly interesting aspect concerns the distribution of the phenomenon by income class

Income brackets above 5,000 have 6 times more propensity to emigrate than lower income brackets. 

 The latter do so for economic survival and family reunification.The upper echelons, on the other hand, aim to optimize their wealth by moving to countries with favorable taxation and better quality of life and climate.

The attraction of Spain

Between 2010 and 2024, the most popular foreign countries for retirees were Spain and Portugal, followed by Switzerland, France and Germany. More than2,800 retirees moved to Spain during this period, almost two-thirds of them male. Portugal occupies the second position, thanks in part to favorable tax policies that had been adopted and later revoked. Lower numbers are recorded for Switzerland, France and Germany. These countries, historically linked to Italian emigration, continue to attract retirees, probably also for reasons of family reunification or the presence of well-established Italian communities. 

Switzerland and France show a relatively balanced composition of men and women, while Tunisia and Romania show a marked prevalence of male pensioners. This difference-writes the Ines Report-could be attributable to specific economic reasons or targeted benefits for foreign retirees, which tend to attract more of the male component, often the holder of larger pension payments. Tunisia, in particular, appears to be a strategic destination for self-sufficient and self-employed retirees, attracted by the low cost of living and advantageous tax conditions.

Exodus to Albania

Albania is experiencing a real boom in retirees, rising from 3 in 2019 to 20 in 2023 for every 100,000 retirees. Among the reasons for Albania's attractiveness to retirees are the zero taxation, the still very affordable cost of living compared to that of Italy, the proximity to our country, the numerous and inexpensive air connections, the absence of language difficulties, the climatic conditions similar to those in parts of southern Italy, the good food, and the special welcome the Albanian people extend to Italians.

*-All graphs are part of the INPS Report.