Germany has been deemed the world's top country, according to a new "Best Countries" ranking report to be officially unveiled at the World Economic Forum in Davos, Switzerland, on Wednesday. The study data was compiled by U.S. News & World Report in partnership with BAV Consulting and the University of Pennsylvania's Wharton School, according to Fortune.

"Just as we have done with universities, hospitals and other institutions, our Best Countries portal will be a global homepage for stories and data to help citizens, business leaders and governments evaluate performance in a rapidly changing world," Mortimer B. Zuckerman, chairman and editor-in-chief of U.S. News, said in a statement, according to The Washington Post.

The ranking was based on surveys from 16,248 people from 36 countries in the Americas, Asia, Europe and Africa. Of those, more than 8,000 were college-educated, middle- or upper-class individuals, while more than 4,500 others were senior business leaders. Respondents were asked to share their perceptions on a random selection of 65 attributes for a random selection of countries, with the attributes scored and grouped into nine broader categories: adventure, citizenship, cultural influence, entrepreneurship, heritage, movers, open for business, power and quality of life.

The United States placed fourth overall on its list, receiving high scores in the "power" and "cultural influence" categories, but was docked points for its relatively stagnant education levels, according to Fortune.

Germany received the top ranking because of its strong economy, world influence and its focus on important global issues, such as the migrant crisis and Eurozone unity, the survey said, according to The New York Daily News.

Canada and the United Kingdom occupy the second and third spots in the ranking, with Canada scoring the highest in "quality of life."

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