Relaxing in a hammock at dusk on one of Panama's picture-perfect San Blas Islands

Money can't buy happiness, an adage that seems to be supported by a 2012 Gallup poll which revealed that people in seven developing Latin American nations were among the most likely to report being happy and feeling positive about life.

Ranked right at the top was Panama, a country where about 33% of the population live below the poverty line and the average life expectancy for men is 74 years, rising to 79 years for women.

To measure the relative happiness of residents in 148 countries, Gallup called roughly 1,000 people in each country and asked about their experiences the day before. People were asked if they smiled a lot yesterday, if they felt respected all day, if they were well-rested and if they learned or accomplished something interesting.

The countries that reported the highest rates of "yes" answers to these questions were Panama and Paraguay, with an 85 percent positive rate each. El Salvador and Venezuela were next, followed by Trinidad and Tobago, Thailand, Guatemala, the Philippines, Ecuador and Costa Rica.

The U.S., Germany and France all ranked further down the list in 33rd and 47th joint place respectively. Unsurprisingly, war-torn countries like Iraq and Afghanistan came bottom of the poll.

Gallup has repeated its survey every year since, and Paraguay has led the world in terms of positive emotions each year.

Some commentators put the results down to Panama and other similar Latin American countries boasting positives such as close family, friend and religious networks - despite daily lives that are often rife with poverty and social injustice.

"Overall, I'm happy because this is a country with many natural resources, a country that plays an important role in the world," Panama resident Carlos Martinez told the Mail. "We're people who like to celebrate, to eat well and live as well as we can. There are a lot of possibilities here, you just have to sacrifice a little more."

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