Switzerland secured the top spot for the third consecutive year in the 2024 Best Countries report, and the United States achieved its highest-ever ranking by rising to third place.
The Best Countries Report, an analysis by the U.S. News & World Report and the Wharton School of the University of Pennsylvania, measures perceptions of individual countries. The rankings are determined by a survey of nearly 17,000 respondents across 36 countries, with the report assessing 89 nations across 73 different attributes.
Attributes were grouped into 10 subrankings, ranging from “Cultural Influence” and “Quality of Life” to “Entrepreneurship” and “Power.” This year’s most heavily weighted metric is “Movers,” a subranking measuring factors related to a country’s future growth.
“The report sheds light on a country’s potential for economic, political and cultural success and can serve as a strategic decision-making tool for citizens, business leaders and governments to better evaluate their countries,” U.S. News Executive Chairman and CEO Eric Gertler said.
This is the seventh year in the report’s nine-year history that Switzerland topped the list. This year, the nation ranked second in “Open for Business,” referring to countries seen as ideal environments for capitalists and corporations, third in “Quality of Life” and fifth in “Entrepreneurship.” Switzerland also placed first in “Best Countries to Headquarter a Corporation,” “Best Countries to Start a Career” and “Best Countries for a Comfortable Retirement.”
The United States rose two spots from last year’s assessment, notably experiencing a seven-point increase in “Open for Business” and a four-point increase in “Movers.” The U.S. also ranks first in both “Power” and “Agility.”
Japan rose four spots from number six in last year’s rankings, taking Canada’s former spot at number two. Canada and Australia fell to fourth and fifth place this year, with Canada formerly ranking second and Australia ranking fourth in last year’s report.
Sweden lost its spot in the top five, falling from third to sixth. The country remained stagnant or experienced declines in seven of the 10 subrankings, including decreases of three points in both “Cultural Influence” and “Power.”
Ukraine experienced the largest decline fom last year’s ranking, falling 12 spots to number 80. Bahrain and Israel had the second- and third-largest declines, with Bahrain falling 11 spots to number 69, and Israel falling 10 spots to number 46.