Vietnam’s fast-growing economy is a great place for retirees who are looking to start a business or find economic opportunity in act two of life.

According to IL and LIO, a couple can live here for less than US$1,000 a month in many places. Coastal Da Nang, which is the region LIO recommends specifically, feels very intimate despite its million-person population.

Da Nang is bookmarked between Vietnam’s more well-known cities Hanoi and Ho Chi Minh City. If you want to be further inland, LIO recommends Da Lat in Vietnam’s Central Highlands, too.

Panama tops the list, followed by Portugal, Costa Rica, Indonesia, Malaysia, Ecuador, Vietnam, Thailand, Brazil, Spain.

Earlier, Vietnam came in first for cheapest beach holidays, while the world’s most expensive ones are found in the Pacific region and Italy, according to TravelBird, a Netherland-based travel company.

The study reveals the prices at 327 of the most popular beaches from over 90 countries, based on local tourism board numbers and data from the World Tourism Organisation (UNWTO).

The three cheapest beaches in Vietnam include Cua Dai beach in Hoi An (Quang Nam province) with US$15 for all six items, city beach in Nha Trang (Khanh Hoa province) with US$16 for all six items, Long beach in Phu Quoc island (Kien Giang province) with US$18 for all six items.

The study found out what were the most affordable spots, TravelBird looked at the prices of five popular beach purchases, including the cost of sun cream, a bottle of water, a beer, lunch, and an ice cream, and facility fee at each destination. The total cost of all six items determined the final affordability ranking of each locale.

Accordingly, Cua Dai beach costs a holidaymaker about US$2 for 200ml of SFF 30 sun cream bottle from a local store, US$0.43 for a 500ml bottle of water, US$1.8 for an ice cream on the beach.

Meanwhile, lunch, including a drink and dessert for one person from a beach bar or the closet establishments to the beach, typically costs an average of US$8.6 and facility fee is at US$1.28 on average.