"The Global Competitiveness Index (GCI) is a comprehensive tool that measures the microeconomic and macroeconomic foundations of national competitiveness. It is composed of 12 "pillars", or categories. Competitiveness is the set of institutions, factors and policies that determine the level of productivity of a country taking into account its level of development", - World Economic Forum. According to overall index, Switzerland is the most competitive country in the world retaining leading position since 2008 after it outpaced United States which, in turn, worsened its position and moved from the first to the fifth place over the same period. While competitiveness is positively related to the wealth of the nation expressed through the GDP per capita, the relation between competitiveness and happiness seems to follow negative square pattern: middle level of competitiveness corresponds to the highest level of happiness.
Sources: The Global Competitiveness Report 2013-2014, Happy Planet Index