The world would be a happier place if we were more equal, according to this year's World Happiness Report Update.
For the first time since its publication in 2012, the World Happiness Report has focused on the measurement and consequences of inequality in the distribution of well-being among countries and regions.
In previous years, the editors argued that happiness provides a better indicator of human welfare than income, poverty, education, health and good government measured separately.
However, this year they have recalculated their findings to show that the inequality of well-being provides a broader measure of inequality, according to this year's report released Wednesday by the Sustainable Development Solutions Network (SDSN),
Two regions—the Middle East and North Africa, and Latin America and the Caribbean— have more unequally distributed happiness than the world as a whole.
"There's a greater inequality in all aspects of life in those regions," John Helliwell, an economist and one of the editors of the report, told CNBC on Wednesday.