Switzerland is the world's happiest country

Have you heard the news? If you're living in Switzerland consider yourself lucky. You're residing in the world's happiest country.

The scores are in for the 2015 World Happiness Report, and it turns out, the land of watches, chocolate and cheese has been crowned the happiest nation on Earth.

The 172-page report, compiled by the UN General Assembly, factors in six key issues in its rankings, including GDP per capita, life-span, social support, trust in government and businesses, perceived freedom to make life decisions, and generosity.

Since it was first published in 2012, the World Happiness Report demonstrated that well-being and happiness are critical indicators of a nation's economic and social development, and should be a key aim of policy.

The report identifies the countries with the highest levels of happiness:
1.) Switzerland
2.) Iceland
3.) Denmark
4.) Norway
5.) Canada

The World Happiness Report 2015 shows that at both the individual and national levels, all measures of well-being, including emotions and life evaluations, are strongly influenced by the quality of the surrounding social norms and institutions. These include family and friendships at the individual level, the presence of trust and empathy at the neighborhood and community levels, and power and quality of the over-arching social norms that determine the quality of life within and among nations and generations. When these social factors are well-rooted and readily available, communities and nations are more resilient.