Money can't buy happiness, as the saying goes, but varying levels of income can lead to positive well-being depending on the cost of living and where you live in the world, according to a report by money website Expensivity.
The global average of the price of happiness is $85,000 a year, according to Expensivity, which calculated the cost of happiness for 160 countries by combining data from Purdue University's Happiness, income satiation and turning points around the world report, purchasing power ratios from the World Bank and cost-of-living figures in cities.
At $143,933 a year, the most expensive country to be happy is Bermuda, while the cheapest is Suriname in South America, where it costs just $6,799, the Expensivity study found.
In 2018, the Purdue University study, which is based on data from the Gallup World Poll of 1.7 million people, found that there is an ideal level of money that could make a person happy – and it varies around the world.
"That might be surprising as what we see on TV and what advertisers tell us we need would indicate that there is no ceiling when it comes to how much money is needed for happiness, but we now see there are some thresholds," Andrew T. Jebb, the lead author of the study, was quoted by Purdue University as saying at the time.
“It’s been debated at what point does money no longer change your level of well-being. We found that the ideal income point is $95,000 for life evaluation and $60,000 to $75,000 for emotional well-being. Again, this amount is for individuals and would likely be higher for families.”
Meanwhile, other countries where happiness comes at a high price include Australia at $135,321, Israel ($130,457) and Switzerland ($128,969), where the cost of living is considered high, the Expensivity report said. In the US, a yearly income of $105,000 is sufficient to be happy.
While Suriname is the world's cheapest country for happiness, Argentina ranks second at $8,778, followed by Angola ($8,921) and Kyrgyzstan ($8,997), owing to a lower cost of living.
However, the happiness cost of $6,799 in Suriname is out of reach for many who earn an average income of $5,500, the research found.
“A higher income helps to reduce stress levels with regards to knowing that you have a house to live in and can afford to put food on the table every day," Soniyaa Pubjabi, wellness coach and founder of Dubai-based Illuminations Well Being Centre, said.
"But once you have the money to have a middle-class standard of living, other things matter more – like how content you are with your life.
“Factors such as having a strong support system, family and friends who care about you, having time to pursue your hobbies and interests, staying healthy as you age, and growing spiritually come into play.”
In the Gulf, Qatar has the highest happiness price tag at $75,936, followed by Kuwait at $71,537 and the UAE with $70,771 per annum. Happiness is more affordable in Oman at $61,021, Bahrain ($56,901) and Saudi Arabia ($54,263), according to Expensivity.
Meanwhile, the cost of happiness in South-East Asia is below the global average of $85,000 in every country, ranging from $15,643 in Pakistan to $46,078 in Singapore.
Happiness in India costs $20,235 a year, while in China, it is much higher at $70,848.
The price of happiness varies more in Europe than in any other continent, according to the Expensivity report. Due to the high cost of living, happiness in Switzerland is the most expensive in Europe.
However, the report found that happiness is less expensive in Eastern Europe. In Ukraine, the point at which more money no longer brings more happiness occurs at $11,301 – the lowest for any country in Europe, Expensivity said.
In sub-Saharan Africa, the maximum level of happiness occurs at just $40,000 on average.
Meanwhile, goods and services are generally cheaper in South America, which means a lower cost of living and happiness price tag. The most expensive country to find happiness on the continent is Uruguay at $21,261.
Among global cities, the price of happiness is highest in New York City at $139,183. Outside the US, the city with the highest price of happiness is Bern, Switzerland, at $128,969, while Oslo has a happiness price tag of $114,147 followed by London with $110,000.
“Cities are more expensive to live in and, as a result, the maximum level of happiness – or satiation point – occurs at a higher cost point,” the research said.
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
If you go
Flight connections to Ulaanbaatar are available through a variety of hubs, including Seoul and Beijing, with airlines including Mongolian Airlines and Korean Air. While some nationalities, such as Americans, don’t need a tourist visa for Mongolia, others, including UAE citizens, can obtain a visa on arrival, while others including UK citizens, need to obtain a visa in advance. Contact the Mongolian Embassy in the UAE for more information.
Nomadic Road offers expedition-style trips to Mongolia in January and August, and other destinations during most other months. Its nine-day August 2020 Mongolia trip will cost from $5,250 per person based on two sharing, including airport transfers, two nights’ hotel accommodation in Ulaanbaatar, vehicle rental, fuel, third party vehicle liability insurance, the services of a guide and support team, accommodation, food and entrance fees; nomadicroad.com
A fully guided three-day, two-night itinerary at Three Camel Lodge costs from $2,420 per person based on two sharing, including airport transfers, accommodation, meals and excursions including the Yol Valley and Flaming Cliffs. A return internal flight from Ulaanbaatar to Dalanzadgad costs $300 per person and the flight takes 90 minutes each way; threecamellodge.com
'The Lost Daughter'
Director: Maggie Gyllenhaal
Starring: Olivia Colman, Jessie Buckley, Dakota Johnson
Rating: 4/5
UAE currency: the story behind the money in your pockets
hall of shame
SUNDERLAND 2002-03
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.
LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
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How to register as a donor
1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention
2) There are about 11,000 patients in the country in need of organ transplants
3) People must be over 21. Emiratis and residents can register.
4) The campaign uses the hashtag #donate_hope
