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Where are Russian pensioners going abroad?

Pension immigration in the world is gaining momentum. At the beginning of 2019, there were 331 thousand people from Russia abroad. Compared to 2018, the number of senior immigrants from Russia increased by 3.5%. Over the past five years, the number of pensioners living abroad and receiving Russian pensions has grown by 25%. Every year, the state pays them more than 41 billion rubles of pension payments.

There are many reasons for moving to another country. The main reasons for pensioners moving to other countries are relatives, better living conditions and food, medicine and medical care, climate, prices for housing and operational services. Surviving a pensioner with meager pensions is difficult. Elderly people leave from Russia. Most of them live today in Germany and Israel. The standard of living in these countries is much higher than in Russia. This provides additional benefits. Older people can rely on social support from the state, and, for example, in Israel people get dual citizenship.

Nevertheless, Russian seniors choose 129 countries for living. Many countries have investment programs. To obtain a residence permit almost everywhere, pension immigration must contribute to the country's economy. Most often, this is the acquisition of their own housing in the country.

Russian seniors most often choose the following countries: Bulgaria, Montenegro, Serbia, Portugal, Thailand, China, Egypt, Turkey, and Finland. Most often, the choice of a country is based on financial capabilities, the region of current residence. Before making a decision, pensioners are studying the conditions of admission in the country and receiving social guarantees, the possibility of obtaining a Russian pension, the level of prices for housing, food, medicines, etc.

News
The Russian economy continues to lose its attractiveness in the eyes of large transnational businesses as consumers become poorer and the government continues the sanctions war with the West.

The Washington Institute of International Finance (IIF) sharply improved its forecast for the Russian economy. Its experts revised estimates of the fall in GDP in 2020 from minus 4.8% to 3.6%.

Net capital outflow from Russia by the private sector by the end of 2020 increased 2.2 times compared to the same period last year and amounted to $47.8 billion.

The decline in foreign direct investment (FDI) in the Russian Federation in January-September 2020 amounted to about 80%, according to the report of the World Bank (WB).
Net capital outflow from Russia since the beginning of the year has approached $48 billion.
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