The Cato Institute, the people that publish the misery report has named Venezuela as the most miserable nation in the world. The formula used to determine the list includes inflation, unemployment, GPA growth and lending rates.

Inflation and unemployment are usually the main factors because many countries are hampered with those two factors. Other countries high on the misery list are:

2. Iran

3. Serbia

4. Argentina

5. Jamaica

Some others of note include:

10. Greece

21. India

26. Portugal

Venezuela was far and above the most miserable though with a misery index of 79.4 as compared to second place Iran at 61.6.