The Economist has ranked Melbourne, Australia the most livable city in the world. The publication’s intelligence unit ranked 140 cities in its livability ranking and overview. To determine cities’ rankings, it assigns ratings to 30 different indicators in five categories, including stability, healthcare, culture and environment, education and infrastructure. With a score of 97.5 out of a possible 100, Melbourne received perfect scores for education, healthcare and infrastructure and only missed marks for climate, petty crime and culture.

What makes Melbourne so great? For starters, it’s seated on Australia’s beautiful Yarra River, so it not only has great scenery, but it’s an excellent spot for water sports and boating.

Melbourne also features cutting-edge architecture, such as the Digital Harbour Port 1010, the Arts Melbourne spire and the Melbourne Recital Center.

The city is full of parks and gardens, including Royal Park, a public area covering 420 acres.

Literary culture is alive in Melbourne. Its literary festivals, books stores, publishers and history of award-winning authors make it a UNESCO City of Literature.

The city also pays homage to its Aboriginal roots through many galleries and museums. Home to many cultures, Melbourne boasts a large indigenous community known as the Kulin Nation.

Melbourne’s 150-mile tram network, one of the best in the world, makes traveling around the city especially easy.

The Queen Victoria Market—open in Melbourne since 1878—is one of Australia’s best and biggest open air shopping markets.

The Crown Casino—with its license for 500 table games and an hourly fire show—helps make Melbourne the largest gambling center in the southern hemisphere.

Each year Melbourne hosts Big Day Out, one of the largest nationwide music festivals, where a variety of local and well-known international bands perform.

Sporting enthusiasts can find plenty to entertain in Melbourne, as well. The city hosts the Formula 1 Australian Grand Prix each March, as well as the Australian Open, one of four Grand Slam tennis tournaments in the world.

Melbourne has a pleasantly moderate climate. In the summer temperatures generally reach the upper-70s to low-80s, and in the winter the thermometer rarely drops below 60 degrees.