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Australia ranked ‘The happiest nation in the world – again

For the third consecutive year, Australia has been ranked as the world’s happiest nation (among developed economies).

The Better Life Index compiled by the OECD, ranked Australia first, largely due to the overall strength of its economy

The annual survey ranks more than thirty countries on criteria such as health, safety, housing and income levels.

According to the OECD, “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,”

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.

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.

A challenge Australia does face is the 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 Top Ten Happiest Countries

1 Australia
2 Sweden
3 Canada
4 Norway
5 Switzerland
6 United States
7 Denmark
8 The Netherlands
9 Iceland
10 United Kingdom