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She said tourism was also a big contributor to the territory's economy, with large numbers of Amercians coming to see the renowned penguins living on the Falklands.

The hospitality and tourism industry is a key contributor to L.A.’s economy, employing more than 540,000 people who work as room cleaners, dishwashers, restaurant servers and bellhops, among other jobs.

In interviews, Taiwanese pointed to universal healthcare, an open and friendly society, freedom of expression and convenience in daily life as other potential contributors to local happiness.

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Investments by companies in assets such as factories, machinery or construction – also called gross fixed capital formation – make up around 30% of GDP and are its second largest contributor following private consumption.