The LPI index is compiled according to various data combined into 9 categories, as well as statistical and social studies and economists' assessments. The index measures the welfare of the country based on its economic indicators, favorable business regulations, administration, security, healthcare, education, freedom, social welfare, and environmental well-being. For comparison, the US is in 20th place in this rating with an LPI score of 77.1. Russia, whose LPI score totals 59.3, follows Albania, taking 70th place. The last 169th place is occupied by South Sudan with an LPI score of 28.1.

1. Denmark, LPI 83.9

Denmark took the number one spot. This eco-friendly, progressive, and the architecturally stunning country is an illustrative example of how any country in the modern era should look like. Denmark is one of the most popular and expensive countries in Europe. It has been a member of the EU since 1973. Apart from dense forests, fabulous castles, and magnificent beaches, the country can boast of outstanding technology and scientific achievements. Denmark is the homeland of the severe Vikings and children's storyteller Hans Christian Andersen. Few people are aware that the Lego brand emerged in this country as well as Ecco, the famous shoe brand. Local residents take great interest in ecological suitability. There is a city called Samsø that uses only renewable energy.

2. Norway, LPI 83.5

This is the world's second most prosperous country located on the Scandinavian Peninsula. Norway is a constitutional monarchy. The Norwegian Constitution was adopted in 1814. It makes it the second oldest written constitution in the world. Norway is often recognized as a welfare state that takes care of its citizens. It has the highest human development score on the Human Development Index (HDI). As for gender equality and standard of living, Norway constantly occupies the top positions in the rankings. The Norwegian government is fully responsible for oil and gas revenues. However, the funds are used only for the benefit of the population of the country. Norway’s Government Pension Fund Global, aka the Norwegian Oil Fund, is considered the world's largest SWF. Interestingly, it has made investments in more than 9,000 companies across 70 countries.

3. Sweden, LPI 83.1

Sweden is also located on the Scandinavian Peninsula. Surprisingly, this country in the north of Europe like the previous two countries on the list closes the top three. Nowadays, the Scandinavian countries are taking the lead. Sweden lacks favorable weather conditions. The Baltic and North Seas are stormy and not warm. Perhaps that is the reason why Sweden, like its neighbors, pays great attention to improving the lives of its citizens and maintaining living conditions at a high level. Sweden is known for being the safest country on the planet. The crime rate is extremely low. Additionally, the plumbing water there is one of the cleanest in the world.

4. Finland, LPI 83.0

Finland lies further in the north of Europe. In this country, one can enjoy the purest air and water, great ski trails, and northern lights. There are also 3 million saunas in the country. However, the most striking fact is that this is the homeland of Santa Clause. He resides in Lapland and receives guests all over the year. There are 188,000 lakes in Finland. The country is heavily forested, with over 70% of the territory covered by thick woodlands. In this pristine natural corner of unspoiled nature, residents and tourists feel safe. Notably, they can go almost anywhere for a stroll as the country sticks to the principle "jokamiehen oikeus" (everyone has the right).

5. Switzerland, LPI 82.9

Notably, two cities of this country, Zurich and Geneva, are in the top ten most expensive cities in the world according to the WCOL index. Switzerland is included in the top ten in terms of GDP per capita. It has the highest average wealth per adult. Swiss banks, watches and chocolates, ski resorts, and other things made in Switzerland are always the benchmark for high quality and they usually cost a pretty penny.

6. Netherlands, LPI 82.2

The Netherlands is another European country on our list. It is located in northwestern Europe. It is one of the most picturesque states in Europe with an abundance of castles and ancient cities, tulip fields, wind palaces, canals, and bicycle roads. The North Sea coast is famous for its beaches and dunes. Of course, when talking about well-known spots, it is barely possible not to mention the De Wallen district, the largest and best known red-light district in Amsterdam. Many people believe that this country is frivolous when it comes to moral standards.

7. Luxembourg, LPI 81.1

Luxembourg is one of the smallest countries in Europe. It is a charming place filled with beautiful castles and picturesque villages. Luxembourg’s GDP is expanding fairly quickly and the country has the highest per capita GDP in the world. However, the cost of living there is quite high. The Grand Duchy of Luxembourg is situated between Belgium, France, and Germany. About 602,000 people reside there. They speak Luxembourgish, French, and German. The country is located among the Ardennes Mountains covered with dense forest, natural parks, rocky gorges, and valleys of vineyards. Luxembourg easily combines ancient and modern traditions. There are more than 200 different banks and offices, castles and historical monuments, museums, and squares.

8. New Zealand, LPI 80.9

New Zealand is an island country in the southwestern Pacific Ocean, consisting of two main landmasses - the North Island and the South Island. There are also about 700 small islands. The North Island has a subtropical climate, while in the South Island, the weather can be very cool. In most remote areas, the climate is tropical. The North and South Islands are separated by Cook Strait. The Southern Alps extend along the length of the South Island with the highest peaks in the country – Mount Cook. The colorful nature of New Zealand - fjords, southern lakes and Mount Victoria were captured in The Lord of the Rings film trilogy.

9. Germany, LPI 80.6

Germany ranks 9 according to the LPI index. It has the strongest economy in Europe and the fourth-largest economy in the world. The headquarters of the European Central Bank is located in the German city of Frankfurt am Main. Germany consists of 16 lands, with each land having its own government and regulations.

10. Iceland, LPI 80.1

In 2010, the Eyjafjallajokull volcano erupted in Iceland, producing a giant cloud of ash. It severely disrupted air travel. Many flights were postponed. This was the first time when many people started getting interested in this country. According to legend, the Vikings gave this island such a name to scare away uninvited guests. It is located in the North Atlantic Ocean, just south of the Arctic Ocean. Local people are trying to preserve their native language. This is why when a new word appears, they come up with a word in their own language. This process is even monitored by a special committee. There are about 300,000 people in the country. Everyone can trace their ancestry in Islendingabok ("Book of Icelanders") where all the natives are recorded, starting with the first settlers of the 11th century.