Vietnam among top destinations for American retirees

"Vietnam is a very affordable place to retire, especially for adventurous retirees who appreciate the country's beaches, scenery, food, history, and culture," the U.S. magazine said.

The overall cost of living is about 49 percent lower than in the U.S., and rents are about 75 percent lower, depending on the location, it added, citing data from Numbeo, a global database of cities and countries.

In Ho Chi Minh City, home to the largest expat community, the cost of living is 62 percent lower than in New York, and housing is about 83 percent lower.

Another plus in Vietnam is that high-quality healthcare is very affordable, with both public and private systems, according to the U.S. magazine, adding that most foreigners carry international health insurance and can take advantage of care at private hospitals.

However, "obtaining a visa is not as straightforward in Vietnam as in many other countries, but it's possible to apply for long-term stays or business visas," Travel+Leisure said.

Vietnam has one of Asia's strictest visa policies, offering visa exemption to just 24 countries and territories for a maximum stay of up to 30 days. Americans are not in the list, but they can apply for e-visas.

The other seven top retirement destinations listed by the magazine are: Mexico, Ecuador, Costa Rica, Panama, Colombia, Portugal and Montenegro.