It all depends on what you're looking for....everyone defines beauty in a different way. Are you thinking of natural beauty, or man-made beauty (buildings)? People find beauty in different things--the complexity or architecture of a building, the simplicity of a desertscape, the beauty of turquoise-blue-yet-clear water, the sight of waves crashing onto the shore....
Italy is stunningly beautiful. And if you go to a city like Rome, it is amazing in its own right--all of the history of those buildings is truly incredible. And the buildings themselves are beautiful because they are all so detailed. I think the fact that they have stood for so long makes them beautiful as well.
Spain--again, the buildings are amazing. If you are into buildings, you will love it. And the people are beautiful in their own unique way.
Germany--one of my favorites. It is absolutely gorgeous! I especially like the Rhein/Mosel area. There are numerous beautiful, old castles along the Rhein, set into hillsides that are covered with vineyards.
The Caribbean is also gorgeous--you cannot beat the white sands, absolutely turquiose water, and palm trees waving in the breeze (well, except maybe in Tahiti....). And most of the Caribbean is like this, though I am partial to St. Maarten.
And don't forget that the U.S. has some beautiful areas too.... the shorelines of Maine and California, the Pictured Rocks shoreline in Michigan, the waterfalls in Yosemite....
The list is pretty endless, IMO.