According to US News and World Report metrics, in partnership with the BAV Group and The Wharton School of the University of Pennsylvania, Switzerland is the world's best country in 2019.
According to the rankings released on Wednesday, Switzerland received high marks for its quality of living, entrepreneurship and being open for business. The nation has a high GDP of $62,125 per capita.
Helping Switzerland's high marks are its low crime rates, economic stability and its prestigious cultural influence.
If you're looking for the nation with the highest quality of living, you do not have to go far.
Canada ranked as the report's best country for quality of living. Canada scored well for its public education system, political stability and having a good job market. Overall, Canada was ranked as the third-best country in the world.
Canadian Prime Minister Justin Trudeau applauded the news.
"Agreed! This is the best place in the world to live and we’re going to keep working to make sure every Canadian has a real & fair chance at success," he tweeted.
If you're wondering where the United States is ranked, the US came in eighth as the world's best country.
Helping the United States was getting ranked the world's most powerful nation. Having strong political and economic influence, coupled with a strong military, boosted the US to the top spot for being most powerful.
The US didn't do nearly as well in quality of living and being open for business. The US ranked No. 48 for being open for business, scoring low marks for not having cheap manufacturing goods, favorable tax environment and corruption.
The United States ranked No. 17 for quality of life. While the United States ranked high for its job market, it scored poorly for income equality, affordability and safety.
The rankings encompassed 80 of the world's largest and most advanced nations. Many countries in Africa, along with the Middle East and Central Asia, were left off the list.
To read more about the report, click here .