The Swedish passport has ranked "the most valuable" in the world, according to a new study conducted by GoEuro.

The ranking was based on several factors: the cost, how many hours of minimum wage labor it would take to earn a passport, the number of countries the document provides visa-free entry into, and the length of its validity.

The UK passport ranked fourth. The US passport costs $140 (which translates to 19 hours of minimum-wage labor), and provides access to 174 countries visa-free.

Sweden came out on top, offering access to the same number of visa-free countries, but only costing one hour of work.

Afghanistan came in last, only allowing entry into 28 countries without a visa and costing 183 hours of minimum-wage labor. The UAE offers the cheapest passport at roughly $9, and the Turkish passport is the most expensive, costing its residents almost $250.

Chart continues at GoEuro. Image 1.Chart continues at GoEuro