Is India among the happiest countries? Find out...

Many factors are taken into account when ranking the happiness of a country. While wealth obviously plays a major part, other important reasons are perception of corruption, freedom, social support, generosity and healthcare.

Let's take a look at some of the happiest nations, according to World Happiness Report, 2013.

Click NEXT to see where India ranks...

India

Happiness score: 4.772

Overall rank: 111 out of 156

India is ranked a lowly 111 maybe because the tough economic situation has made the outlook bleak. Other factors in play could be rise in corruption cases, deteriorating infrastructure and bad governance.

Click NEXT to see some of the happiest nations...

Denmark

Happiness score: 7.693

Overall rank: 1

Denmark, one of the wealthiest economies in the world, enjoys the top spot primarily due to its excellent infrastructure, safety net, good governance and social equality.

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Norway

Happiness score: 7.655

Overall rank: 2

Norway, which has some of the biggest oil and gas reserves in the world, is one of the least unequal countries, provides excellent governance and enjoys low corruption.

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Switzerland

Happiness score: 7.650

Overall rank: 3

Switzerland, which attracts some of the richest investors in the world, is a stable, prosperous and competitive country.

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The Netherlands

Happiness score: 7.512

Overall rank: 4

The Netherlands, one of the richest economies in the world, is an open society, has low corruption and world-class healthcare.

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Sweden

Happiness score: 7.480

Overall rank: 5

Sweden, one of the most liberal countries, has excellent infrastructure, good governance and low corruption.

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Canada

Happiness score: 7.477

Overall rank: 6

Canada, one of the wealthiest countries in the world, is witnessing a boom in economy.

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Finland

Happiness score: 7.389

Overall rank: 7

Finland, one of the most developed countries in the world, is constantly ranked high in Human Development Index.

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Austria

Happiness score: 7.369

Overall rank: 8

Austria, one of the most prosperous countries in the world, has world-class infrastructure, competitive economy and excellent healthcare.

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Iceland

Happiness score: 7.355

Overall rank: 9

Iceland, which has a population of 320,000, is a free-market economy with low corporate taxes.

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Australia

Happiness score: 7.350

Overall rank: 10

Australia, the 12th-largest economy in the world, is also one of the wealthiest.

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Israel

Happiness score: 7.301

Overall rank: 11

Israel, whose financial center is Tel Aviv, has the highest standard of living in the Middle East.

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Costa Rica

Happiness score: 7.257

Overall rank: 12

Costa Rica, which has been ranked as the greenest country in the world, has a good record on Human Development Index.

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New Zealand

Happiness score: 7.221

Overall rank: 13

New Zealand, whose major exports are dairy products, meat and wine, enjoys one of the highest standards of living in the world.

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United Arab Emirates

Happiness score: 7.144

Overall rank: 14

United Arab Emirates, which holds one of the biggest reserves of oil and gas, has one of the highest per capita incomes in the world.

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Panama

Happiness score: 7.143

Overall rank: 15

Panama, which earns a lot from Panama Canal, is one of the fastest growing economies in Central America.

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Mexico

Happiness score: 7.088

Overall rank: 16

Mexico, one of the largest economies in the world, carries out most of its trade with the United States.

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United States

Happiness score: 7.082

Overall rank: 17

United States, the biggest economy in the world, has one of the highest per capita incomes in the globe.

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Ireland

Happiness score: 7.076

Overall rank: 18

Ireland, which is one of the wealthiest countries in the world, is highly ranked for press, economic and political freedom.

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Luxembourg

Happiness score: 7.054

Overall rank: 19

Luxembourg, which has one of the highest per capita incomes in the world, has a population of 524,853.

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Venezuela

Happiness score: 7.039

Overall rank: 20

Venezuela, which has huge gas and oil reserves, is one of the fastest growing economies in the world.

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Belgium

Happiness score: 6.967

Overall rank: 21

Belgium, which has a population of 11 million, is one of the wealthiest countries in the world.

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United Kingdom

Happiness score: 6.883

Overall rank: 22

United Kingdom, one of the main financial centres of the world, is one of the developed countries in the world.

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Oman

Happiness score: 6.853

Overall rank: 23

Oman, whose economy relies to a large extent on oil, fishing and agriculture, is one of the most developed and stable countries in the Middle East.

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Brazil

Happiness score: 6.849

Overall rank: 24

Brazil, one of the fastest growing economies in the world, is a major manufacturing and export powerhouse.

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France

Happiness score: 6.764

Overall rank: 25

France, one of the wealthiest countries in the world, provides excellent healthcare, social security and infrastructure.