Switzerland has been ranked the best country in the world for the third year in a row.
The 2024 rankings, released Tuesday, were determined by U.S. News & World Report in partnership with the Wharton School of the University of Pennsylvania.
Switzerland held the top spot from 2017 to 2020, but has recently been overtaken by Canada. The federal nation will drop to fourth place in 2024.
The ranking, which covered 89 countries, took into account factors such as quality of life, entrepreneurial spirit and power. Countries were scored in 10 categories, including business-friendliness and agility, which U.S. News describes as “most adaptable to change.” A weighted sum was used to determine the overall score.
“The Best Countries report speaks to the value of having a strong international image as countries compete for foreign trade, tourists and socio-economic influence,” Wharton marketing professor David Reibstein said in a statement. “The Best Countries rankings are more than a beauty contest. World leaders need to recognize that how their country is perceived impacts their economy through tourism, foreign direct investment and foreign trade, all of which are key components of GDP.”
Below, U.S. News presents the best countries in the world and the areas in which they excel.
Population data for each country was provided by the U.S. Census Bureau, and gross domestic product (GDP) information was provided by the Organisation for Economic Cooperation and Development (OECD).