Bokinte in Panama is the front-runner and the Portuguese Algarve is content with second place.

The couple will need about $3,085 a month to live. House prices have jumped: Lugos and Albufeira are now not as cheap as they were a decade ago. But affordable medicine, climate and Faro Airport remain pluses.

In the region they speak English, there is an established diaspora. If the budget allows, this is a great option for moving from North America.