Singapore has once again been named Asia's happiest country, marking its second consecutive year in the top spot, according to the 2024 World Happiness Report, which was released on Wednesday as per CNBC. The city-state ranked 30th out of 143 places surveyed in the study, showing its consistently high levels of overall happiness among its citizens.
Key rankings and insights
Finland topped the global rankings in this year's report, followed by Denmark and Iceland. In Asia, Singapore was followed by Taiwan, Japan, South Korea, the Philippines, Vietnam, Thailand, Malaysia, China, and Mongolia in the top ten. These rankings are not based solely on subjective assessments, but on comprehensive data gathered over three years, from 2021 to 2023, via the Gallup World Poll.
Factors driving happiness
The report investigates six major factors that influence happiness rankings: GDP per capita, healthy life expectancy, social support, freedom, generosity, and perception of corruption. Singapore stood out as a top performer, particularly in terms of GDP per capita and perceived corruption.
According to Shun Wang, co-author and editor of the report, Singapore has one of the highest GDP per capita figures in the dataset, as well as the lowest perception of corruption worldwide. This indicates a strong economy and a clean governance system, which contribute significantly to the overall happiness of the residents.
Challenges and opportunities for improvement
Despite its stellar performance in some areas, Singapore faces challenges in others, including social support, freedom to make life choices, and generosity. Jan-Emmanuel De Neve, Director of Oxford University's Wellbeing Research Centre, observed that Singapore "is punching below its weight" in terms of objective indicators.
He emphasized the need for the Singaporean government and people to leverage the city-state's strengths to further improve the quality of life. De Neve's call to action encourages Singapore to strive for a higher ranking in future reports, citing its impressive track record in a variety of objective metrics.
Regional contrasts and insights
The report also provides information on happiness levels throughout Asia, with Myanmar, Cambodia, India, Sri Lanka, and Bangladesh ranking among the least happy countries in the region.
India, despite being the world's most populous country, was ranked 126th out of 143 countries surveyed. These findings highlight the diverse landscape of happiness in Asia, which reflects differences in socioeconomic conditions, governance, and cultural factors.