The weather might be something to take into account. Personally, I wouldn't want to live in far northern countries like Norway because of the limited sunlight hours in winter. I've found that more than the temperature, it's sunlight exposure that has a strong influence on the way I feel.
Living in a country that may get a few hours of weak sunlight in winter doesn't appeal to me, no matter how high the standard of living might be otherwise.
When I worked in Stockholm, I had a few colleagues who preferred to take a large portion of their generous (32 day) annual holiday in february or so and go someplace warm. Working through the summer is not unpleasant: the pace is slower, the office is quiet, the evenings are long, and you could still have a week or two off.
Living in a country that may get a few hours of weak sunlight in winter doesn't appeal to me, no matter how high the standard of living might be otherwise.
Your personal preferences will vary, of course.