New Zealand best place to live in the world - study

New Zealand didn't crack the Prosperity Index's top 10 for natural environment, but excelled in most other areas (Flickr / giiku)
New Zealand didn't crack the Prosperity Index's top 10 for natural environment, but excelled in most other areas (Flickr / giiku)

We know we've got the best rugby team, sheep shearers and moustached basketballer in the world, but now New Zealand has excelled in another area - prosperity.

At least that's according to a survey conducted by London-based think-tank the Legatum Institute, who considered 104 factors before coming to the conclusion that New Zealand should be crowned the top country on its Prosperity Index.

The Index calculates just how much prosperity a country delivers given its wealth - looking at its per capita GDP and the number of people employed, among a myriad of other variables.

The Index said New Zealand was unrivalled in its ability to turn its wealth into prosperity, describing Aotearoa as model country for delivering "wellbeing and wealth".

We took top spot on account of our social capital - which measures personal relationship and social network support - and economic quality - which looks at macroeconomic indicators, financial foundations for growth and the economy's openness.

We were also deemed to have the world's second best business environment and governance, and were third best in personal freedom.

Our success has been put down to a few factors - with our place in the Commonwealth, our strong civil society and wide open markets all significant, the Legatum Institute says.

Sitting one place behind New Zealand in second overall is Norway, which relinquished its crown for the first time in eight years, with Finland in third on account of it having the world's top-rated government.

Switzerland was fourth thanks to its unparalleled education system, while Canada, Australia, the Netherlands, Sweden, Denmark and the UK rounded out the top 10.

The United States failed to feature in the top 25, with no South American or African nations featuring either. The most prosperous Asian nation is Singapore, which sits 19th on the Index.

The full Prosperity Index report can be accessed here.

Newshub.