The World's Happiest Countries

BBC

Australia has been ranked as the world's happiest nation among
developed economies for the third year running.

Australia won the top position, due to the overall strength of its
economy, in the Better Life Index compiled by the Organization for
Economic Cooperation and Development.

Sweden, Canada, Norway and Switzerland also made it to the top five.

The survey ranked more than 30 countries on criteria such as income
levels, health, safety and housing, reports the BBC.

"Australia performs exceptionally well in measures of well-being, as
shown by the fact that it ranks among the top countries in a large
number of topics in the Better Life Index," the OECD said on its
website.

More than 73% of Australia's 23 million people aged 15 to 64 hold a
paid job, which is above the OECD average.

Life expectancy at birth is also higher, at almost 82 years.

Economic strength

Australia's economy has posted more than two decades of straight
growth due to demand for its natural resources.

The nation also managed to sidestep the worst of the financial crisis
and was the only major developed nation to avoid the global recession
in 2009.

The country's economic strength has been reflected in the Australian
dollar, which is currently trading close to 30 year highs.

However, the government is starting to see challenges to growth as the
mining boom tapers off, including rising unemployment.

As a result, Australia's Labour government is now looking to move the
economy away from its dependence on mining towards sectors such as
construction and manufacturing.

Another challenge they face is a widening income gap. According to the
OECD, the top 20% of Australia's population earn six times more than
the bottom 20%.

The World's Happiest Countries

    Australia

    Sweden

    Canada

    Norway

    Switzerland

    United States

    Denmark

    The Netherlands

    Iceland

    United Kingdom