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Gallup asked respondents to answer "yes" or "no" when asked whether they experienced positive emotions the previous day such as enjoyment (laughing or smiling a lot), feeling well-rested, being treated with respect, or sense of accomplishment from something learned or did.

"Gallup compiles the 'yes' results into a Positive Experience Index score for each country," Gallup researcher Jon Clifton said in an article posted on the Gallup website.

For the third year in a row, Paraguay topped the list with 87, closely followed by Panama with 83. Three other South American countries—Guatemala, Nicaragua, and Ecuador—are tied in the third place with a score of 83.

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"That so many people are reporting positive emotions in Latin America at least partly reflects the cultural tendency in the region to focus on the positives in life," he added.

Same can be said with the three countries in Southeast Asia on the list.

Gallup noted that approximately 1,000 adults for each country were interviewed via telephone and face-to-face meeting. The margin of sampling error, meanwhile, is ±1 percentage point at the 95 percent confidence level.

Behind a 'yes'

Clifton said that a strong indicator behind a "yes" answer confirming a positive emotion is income, but only up to a point.

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