LONDON: Kuwait has been ranked the second happiest country in the world, according to the 2023 Annual Misery Index. The index, compiled by Steve Hanke, professor of applied economics at Johns Hopkins University, measures the misery of a country by adding together inflation, unemployment, and bank lending rates, and subtracting the change in real GDP per capita.
Kuwait scored a misery index of 18.8, which is significantly lower than the global average of 60.7. The country's low unemployment rate of 0.5% and high GDP per capita of $75,000 were major factors in its high ranking.
Switzerland topped the list with a misery index of 16.5, followed by Kuwait, Ireland, Japan, and Malaysia.
The five least happy countries in the world were Zimbabwe, Ukraine, Lebanon, Syria, and Sudan.
Hanke said that the high misery rankings of Zimbabwe and Lebanon were due to their high inflation rates. The war in Ukraine was also a major factor in the country's low ranking.
The Annual Misery Index is a controversial measure of happiness, but it can provide some insights into the factors that contribute to a country's well-being.
Kuwait's high ranking suggests that the country has a strong economy and a low unemployment rate, which are two important factors in happiness.
While Kuwait takes pride in its remarkable second-place ranking on the global happiness scale, it is crucial to address the challenges faced by nations trapped in the depths of misery.
These rankings serve as a reminder of the diverse experiences and conditions endured by people worldwide, urging us to strive for improved well-being and happiness on a global scale.
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