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Boracay, Philippines "World's Best Island 2012"
Boracay, Philippines has taken the number 1 spot in Travel + Leisure magazine's annual "World's Best Islands" list.

"What's amazing with Boracay is it is one of the islands you should know about when you're interested in culture and value," Nilou Motamed, the magazine's features director, told NBC's "Today." "This is the place that you're gonna get not only hotels that you can stay for $50 a night but incredible hotels like the Shangri-la."

Boracay, which placed 4th last year, beat out Bali, Indonesia (#2); Galapagos Island (#3); Maui, Hawaii (#4); and Great Barrier Reef Islands, Australia (#5) this year.

Completing the Top 10 are Santorini, Greece (last year's #1 now #6); Kauai, Hawaii (#7); Big Island, Hawaii (#8); Sicily, Italy (#9), and Vancouver Island, British Columbia (#10).

The Top 10 islands were determined through the data collected from the questionnaires given to and answered by the magazine's readers. The following criteria were used: natural attractions, activities/sights, restaurants/food, people, value.

The magazine's "World's Best Islands" list is part of its annual World's Best Awards, which also rank hotels, cities, and cruises.

The winners of the 2012 World's Best Awards will be honored at a ceremony on July 19 that will be hosted by the magazine's editor-in-chief, Nancy Novogrod, and vice-president and publisher, Jean-Paul Kyrillos, at the newly opened Conrad New York.

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