Up-and-Coming Retirement Cities Abroad

Contrary to popular belief, not everyone is required to move to Boca Raton, USA when they retire. Sure, the climate is heavenly, the ocean water is alluring and the shoreline could hardly be more inviting. However, it's not cheap, as the presence of some of the most expensive gated communities in the US will attest, and the simple fact is that not all retirees have the means to live someplace like this.

With this in mind, International Living , a publication devoted to showing that "you can live better, for less," just released its Retirement Index for 2012. 

By weighing such factors as food prices, climate and health-care costs, the index determines which foreign destinations offer retirees a high standard of living at a low price.

Using data from International Living, CNBC.com is highlighting 10 of the locations on the 2012 Retirement Index. 

Many are in places that offer retirees substantially discounted utilities, public transportation and health care, and offer all of its residents a high level of luxury at a relatively affordable cost. 

Click ahead to see which up-and-coming foreign cities offer luxurious lifestyles to selective retirees.