MANILA - The Philippines is the "best country to invest in," based on rankings released by US News and World Report.

Over-all the Philippines ranked 49th out of 80 countries included in the study. Switzerland was the "over-all best country," followed by Canada, Germany, the United Kingdom and Japan.

The study gauged the countries based on 65 attributes and included 21,000 respondents worldwide. US News and World Report said it used criteria developed by The Wharton School of the University of Pennsylvania and Y&R's BAV Group.

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The attributes were grouped into 9 sub-rankings: adventure, citizenship, cultural influence, entrepreneurship, heritage, movers, open for business, power and quality of life, the publication said.

The Philippines is "flooded with billions of dollars" in remittances from overseas workers, US News said on its website. The country also has a "flourishing" tourism industry.

Dependence on global trade, however, is "risky" and the country is prone to natural disasters, the publication said.