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When it comes to happy, content people, Panama is number one in the world. That’s not some tourism authority slogan. It’s a fact, certified by a study conducted by the respected Gallup organization.

For the second year in a row, Panama has ranked number one in the world in the Gallup-Healthways Global Well-Being Index, a study devised to focus on the elements that make people happy in the long term. Respondents from 145 countries were asked questions about five areas of their lives: purpose, social, financial, community and physical.

Panama scored high across the board, but was particularly strong in “purpose” and “physical well being.” That’s understandable, considering Panama’s booming economy and the overall sense of security and stability.

Seven countries from the Americas made the top 10, but Latin American countries showed the highest ratings for overall happiness. To put it in perspective, historically relaxed Switzerland could only muster a ranking at number four, while Denmark was 7.

“Latin Americans in particular have higher levels of well-being than any other regional group,” the firm reports. “Residents of many Latin American countries are among the most likely in the world to report daily positive experiences such as smiling and laughing, feeling enjoyment, and feeling treated with respect each day.”

It’s also worth noting that the United States fell from 12 to 23.

You can find more about the report here.

Eddie Montes is the head of property management for Punta Pacifica Realty, a Panama real estate agency focused on Punta Pacifica, the exclusive neighborhood of 18 towers perched on the edge of the Pacific Ocean.