The third World Happiness Report has been completed and it turns out that the happiest place on Earth is not Disney World.

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On Thursday, The Guardian reported that of 158 nations, Switzerland is the happiest place to live based on GDP per capita, social support, healthy life expectancy, freedom to make life choices, generosity and perceptions of corruptions.

Following Switzerland comes Iceland as number 2 and Denmark at number 3.

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It is also reported that the top five countries - Switzerland, Iceland, Denmark, Norway and Canada - are also ranked among the world's wealthier countries.

The bottom five countries - Togo, Burundi, Syria, Benin and Rwanda - all have well-documented problems of "unrest" and "extreme poverty."

Unfortunately for the United States, the nation fell well below the top 10 ranking at number 15.

The 172-page report "crunches the data in ways which give less expected results." It includes a table that shows which nations have seen the most increase or decline in happiness between 2005-07 and 2012-14.

The result that United States was low on the list was mostly due to "social capital."

"This is a point that I think is fundamental: we have to pay attention to the strength of society as well as the strength of economies when we consider wellbeing," said Jeffrey Sachs of the Well-Being Programme at the London School of Economics.

The study also considered gender and age with women's wellbeing tending to be slightly stronger than men.