Canada was ranked as the second-best country in the world for 2023, according to a new ranking conducted by US News, WPP, and the Wharton School of the University of Pennsylvania.

In its ranking of the best countries for 2023, US News analyzed various factors, from the military and economic prosperity of the country to the quality of life experienced by its residents. This assessment includes 87 countries and is based on responses gathered from over 17,000 global citizens.

Participants were also asked to associate countries with different attributes across ten sub-rankings, including power, cultural influence, heritage, and social impact. These results were used to create a list of the best countries in the world, along with nearly 100 other distinct rankings.

In this year's ranking, Canada secured the second position, surpassing Germany, due to its outstanding performance in agility, according to the report. However, it still lags behind Switzerland as the best country in the world in 2023.

Canada also placed in the top five in three additional sub-rankings, including quality of life. Moreover, the country excels by holding the top position in several attributes, including racial equality.

Switzerland continues to maintain its status as the best country in the world for the second consecutive year and the sixth time overall.

This small European country excelled in the "open for business" sub-ranking, showcasing its strong economic prowess. Switzerland also retains its position among the top ten in four other sub-rankings while also acquiring the top spot in the attribute related to perceptions of the country's safety.

Sweden came in third, achieving an impressive leap of two spots from its fifth ranking in 2022.

The exceptional performance of Sweden includes securing the top position in two sub-rankings, including social purpose and quality of life. The country also maintains a strong presence in the top ten in three other sub-rankings.

Following Sweden, Australia took the fourth spot, representing a significant improvement by three positions compared to last year's ranking.

Canada's neighbor, the United States, ranks fifth, reflecting a slight decline compared to its ranking in 2022. The United States secured the top spot in three critical sub-rankings: entrepreneurship, power, and agility.

Here are the top 25 countries in the world for 2023 according to US News:

1. Switzerland

2. Canada

3. Sweden

4. Australia

5. United States

6. Japan

7. Germany

8. New Zealand

9. United Kingdom

10. Netherlands

11. Norway

12. France

13. Denmark

14. Finland

15. Italy

16. Singapore

17. Spain

18. Belgium

19. United Arab Emirates

20. China

21. South Korea

22. Austria

23. Ireland

24. Luxembourg

25. Portugal