Is Australia Still The 'lucky country' for a better life?

Australia has been revealed as the world's happiest industrialized nation for the third year running, based on criteria including satisfaction, work-life balance, income and housing,

The so-called "lucky country" beat Sweden and Canada to take the top spot in the (O E C D)

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.

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.

Such growth is in stark contrast to recessions which have gripped Europe and the U.S. since the financial crisis exploded in 2007.

Australia's employment levels, at 73% of those aged 15 to 64, are above the OECD average of 66%. Average household disposable income sits at $28,884, more than the OECD average of $23,047 and despite Australians working an average 83 hours less a year.

Life expectancy, at 82 years, is two years higher than the OECD average of 80 years and satisfaction, at 84%, is higher than the 80% global average.

In its report, the OECD said Australians felt "a strong sense of community and high levels of civic participation," with 94% of people feeling like they knew someone to rely on should they need help.

Sweden came second in the survey, with the same life expectancy as Australia but a lower disposable income of $26,242. Employment for those aged between 15 and 64, sits at 74%, and in general, Swedes are "more satisfied with their lives than the OECD average," the survey found.

According to the report, 85% of Australian people said they had more positive experiences on an average day, such as pride and enjoyment, than negatives ones such as pain or boredom.