I have EU, Australian and Brazilian passports, so I could live in even more countries including the Mercosul region. I actually live in the EU because of its culture, food, more advanced startup scene and tech companies. Living quality is very similar here and in Australia, what makes the difference is whether you prefer to avoid too cold or too hot weather. Swedens finances are actually better than Australia s as far as I know.
I couldn’t imagine a better place to live than Northern Europe, but Australia is a close second for me. Been to China, Japan, Canada, the US and I think parts of those countries are also really nice to live, just not a good match for me culturally.
Now South America is a different story. If you like good weather and a festive atmosphere it’s actually the best place to live, just don’t expect to have money or to live in a functioning state where services work!