Research published this week shows that over three quarters of Britons living in Spain say they are happier than back at home.
Canada and Germany rank second and third as locations where United Kingdom expatriates are most content.
The survey of over 1'000 British expats, carried out for Lloyds TSB, shows that New Zealand ranks highest on quality of life, while tax-free UAE is rated as the best destination for expats' financial prospects.
The survey also reveals that 68% of expatriates are far happier in their adopted countries than in the United Kingdom, although for certain countries this figure was much higher.
New Zealand and Australia were highly rated for quality of life, although both countries rated poorly when judged by cost of living.
Nicholas Boys Smith of Lloyds TSB International said the survey findings show that there is a real variety of decisions to be made when choosing where to emigrate. Expatriates who choose a country solely based on financial prospects may find they compromise on quality of life, or vice versa, he said. Happiness is influenced by many different factors which need to be considered together. The company's research asked over 1'000 British citizens in the 10 most popular expatriate destinations to rate their new homes on factors ranging from quality of life to cost of living.
75 .9% of those who now lived in Spain said that they were happier now than when they were living in the UK, compared with the average of 68%. An important reason for the country's high ranking is the fact that over 70% of expats believed they were better off since their move. 80% agreed that the cost of living was low, a higher response than any other country.