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But before the rest of us get too jealous, the experts warn that the Nordics shouldn't sit back and relax just yet.

The UK-based Legatum Institute has just released its annual Prosperity Index, which ranks 142 countries across 89 variables under eight sub-indexes: the economy; entrepreneurship and opportunity; governance; education; health; safety and security; personal freedom; and social capital.

Scandinavia is doing great but not that great

For the seventh consecutive year, Norway topped the list as the most prosperous country in the world.

It scored the highest in many variables including "trust in others," "satisfaction with freedom of choice," "civil liberty and free choice" and "satisfaction with standard of living."

Denmark and Sweden came third and fifth.

10 photos: Finland's reasons to be happy

In Kuusamo in central Finland, Oulanka National Park is known for dramatic rivers and waterfalls. Among them is the Myllykoski rapids, photographed here in January by Karvinen. It's another to make her top 10 Finnish landscapes list.

The islands of the beautiful Aland archipelago, at the entrance to the Gulf of Bothnia, belong to Finland, but are home to a Swedish-speaking population. It's said to be the sunniest place in northern Europe. Karvinen includes the islands in her top 10 beautiful landscapes lists.

The trees of the Riisitunturi National Park make for dramatic scenery in winter when temperatures well below freezing leaves them coated in condensed frost. The area is popular with cross-country skiers, birdwatchers and photographers.

If appreciating the Finnish landscape isn't enough to lift spirits, there's always the national pastime of taking saunas. Sitting in a hot, steam-filled room and gently thrashing birch twigs against the skin is seen as a healthy way to relax and bond with others.

Finland was once characterized as a nation of melancholics. These days it's seen as one of the happiest countries in Europe. Here are just some of the reasons Finns have to be cheerful.

Finnish photographer Tea Karvinen took this image of the frozen Pyha Luosto National Park. She includes it in her list of the 10 most beautiful Finnish landscapes for the <a href=

VisitFinland.com website. The photo, taken in December from the highest peak in the Pyha mountains, shows the last rays of light hitting Luosto Mountain as fog descends into the valley below." data-src-mini="http://i2.cdn.turner.com/cnnnext/dam/assets/151013134744-pyh-luosto-national-park-small-169.jpg" data-src-xsmall="http://i2.cdn.turner.com/cnnnext/dam/assets/151013134744-pyh-luosto-national-park-medium-plus-169.jpg" data-src-small="http://i2.cdn.turner.com/cnnnext/dam/assets/151013134744-pyh-luosto-national-park-large-169.jpg" data-src-medium="http://i2.cdn.turner.com/cnnnext/dam/assets/151013134744-pyh-luosto-national-park-exlarge-169.jpg" data-src-large="http://i2.cdn.turner.com/cnnnext/dam/assets/151013134744-pyh-luosto-national-park-super-169.jpg" data-src-full16x9="http://i2.cdn.turner.com/cnnnext/dam/assets/151013134744-pyh-luosto-national-park-full-169.jpg" data-src-mini1x1="http://i2.cdn.turner.com/cnnnext/dam/assets/151013134744-pyh-luosto-national-park-small-11.jpg" data-eq-pts="mini: 0, xsmall: 221, small: 308, medium: 461, large: 781" src="data:image/gif;base64,R0lGODlhEAAJAJEAAAAAAP///////wAAACH5BAEAAAIALAAAAAAQAAkAAAIKlI+py+0Po5yUFQA7" data-cut-format="16:9" data-eq-state="xsmall" data-src="http://i2.cdn.turner.com/cnnnext/dam/assets/151013134744-pyh-luosto-national-park-large-169.jpg" style="box-sizing: border-box; border: 0px; display: block; height: 168.75px; width: 300px; position: absolute; opacity: 0; transform-style: preserve-3d; margin-bottom: 0px; transition: opacity 400ms ease;" />

Koli's tree-covered landscape makes it a popular hiking destination in the fall, when the leaves change colors. This view by Karvinen shows the vista from Makravaara peak, above Lake Pielisjarvi, in western Finland.

Finland's southernmost inhabited island is only reachable by a five-hour ferry journey across the Baltic Sea. About 50 people live on the island year round, but the population triples with the summer arrival of tourists. This image was taken by Karvinen in January.

Repovesi National Park is a popular escape from Helsinki, just a few hours away by car. Its forests are dotted with lakes, hills and cliffs. Karvinen took this photo from atop the near-perpendicular Olhava cliffs.