Australia’s education system has been ranked the best in the world by a new report into global prosperity.

Out of the 142 nations, the Legatum Prosperity Index ranked Australia 7th in the overall prosperity ranking but was awarded top marks for education. The index ranks countries according to wealth and wellbeing.australia_exam

The education ranking was determined through analysing data around class size, girls to boys enrolment ratio, secondary and tertiary enrolment, perceptions that children learn and satisfaction with educational quality.

For the third year in a row, Australia has occupied the #7 spot. For the full copy of the report, view here.

The top positions were, dominated by Scandinavian nations. Norway topped the list, followed by Switzerland and Denmark, but our trans-Tasman neighbours New Zealand now occupy fourth spot on the global prosperity index.