How much income makes a person happy? Find out...

A recent study of more than 5,000 consumers across four continents has revealed the amount of net annual income needed for people to feel happy is an imposing $161,810 - 15 times the global average for an individual's income. Overall, some 80 per cent of individuals believe that earning this amount each year would make them feel really happy.

This is according to the findings of the Wealth Sentiment Survey, a study commissioned by the international investment company Skandia International, part of Old Mutual Wealth.

Let's take a look at how much income a person needs to feel happy.

Source: skandiainternational.com

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Dubai

Income needed to be happy: $276,150

Global rank: 1

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Singapore

Income needed to be happy: $227,563

Global rank: 2

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Hong Kong

Income needed to be happy: $197,702

Global rank: 3

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Mexico

Income needed to be happy: $185,163

Global rank: 4

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Italy

Income needed to be happy: $175,825

Global rank: 5

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Peru

Income needed to be happy: $157,455

Global rank: 6

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Brazil

Income needed to be happy: $143,650

Global rank: 7

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Colombia

Income needed to be happy: $141,776

Global rank: 8

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The United Kingdom

Income needed to be happy: $133,010

Global rank: 9

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Chile

Income needed to be happy: $128,675

Global rank: 10

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France

Income needed to be happy: $114,344

Global rank: 11

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Austria

Income needed to be happy: $104,477

Global rank: 12

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Germany

Income needed to be happy: $85,781

Global rank: 13