The so-called “lucky country” beat Sweden and Canada to take the top spot in the Organisation for Economic Cooperation and Development’s (OECD) Better Life Index.

The country which comes out on top can be found here, if all criteria are weighted evenly.

Australia has remained largely immune from the global financial crisis, with its economy growing on average 3.5% over the last 20 years to 2012, according to the CIA Factbook.

The economy of the natural resource-rich nation has been buoyed by strong demand from Asia and China, while its robust financial sector has helped combat the global downturn.