Wellbeing economy

Wellbeing economy is a public policy framework in which the economy is designed to serve social, health, cultural, equity and nature outcomes. ^{[1] [2]} The aim is to go beyond gross domestic product (GDP) as the main measure of national economic performance. Since the early 2000s there has been growing interest in wellbeing as a framework in research, measurement and policy. ^[3]

National and international adoption

A number of countries have introduced wellbeing metrics to guide public policy decision-making and inform budgetary processes with a focus on education and skills, health, gender and inclusion. ^[3] The approach has been adopted as national policy in a number of countries including Scotland, ^[4] New Zealand, Iceland, Wales, ^[5] Finland and Canada which established the Wellbeing Economy Governments partnership (WEGo) in 2021. ^[6]

Intergovernmental organisations such as the World Health Organization (WHO) have also adopted wellbeing as a whole-of-government approach to meet complex social, environmental and public health challenges. This was first articulated in 2021 with the adoption of the Geneva Charter for Wellbeing. ^[7] and in May 2023 the WHO Assembly adopted A global framework for integrating well-being into public health utilizing a health promotion approach. ^[8]

The Wellbeing Economy Alliance (WEAll) is the leading collaboration of organisations, alliances, movements and individuals working towards a Wellbeing Economy. WEAll was born in 2018 as a time-bound project to catalyse a transition towards a Wellbeing Economy by promoting radical connection and collaboration between different actors of the new economy ecosystem, so they can achieve impact larger than the sum of their parts. ^[9]

Ambassadors of the Wellbeing Economy Alliance include: Bayo Akomolafe, James Gustave Speth, Darrick Hamilton, Sophie Howe, Katherine Trebeck, Abdul El-Sayed, Ayabonga Cawe, Carolina Urrutia Vásquez, Christian Felber, David Korten, Giancarlo Pucci, Jason Hickel, Kate Pickett, Kate Raworth, Kristin Vala Ragnarsdottir, Lebohang Liepollo Pheko, Neva Goodwin, Pedro Tarak, Dirk Philipsen, Peter Blom, Rajiv Joshi, Richard Wilkinson, Robert Costanza, Sandrine Dixson-Decleve, Sharan Burrow, Tim Jackson, Bill McKibben, Victor Mochkofsky, and Michael Mezzatesta. ^[10]

Notable examples

Bhutan

Main article: Gross National Happiness

Canada

Main article: Canadian Index of Wellbeing

New Zealand

New Zealand was a pioneer in this space. In May 2019, under Jacinda Ardern's Labour Government, New Zealand launched the country’s first Wellbeing Budget, which committed to putting people’s wellbeing and the environment at the heart of its policies. Rather than focus solely on GDP, they picked five priority areas: climate and environment, productive work, Māori and Pacific opportunities, child wellbeing, and mental and physical health. ^[11]

Prime Minister Ardern stated: “The purpose of government spending is to ensure citizens’ health and life satisfaction, and that — not wealth or economic growth — is the metric by which a country’s progress should be measured. GDP alone does not guarantee improvement to our living standards and does not take into account who benefits and who is left out.” ^[12]

The approach was scraped by the subsequent National-led coalition government in 2024.

New Zealand has an active hub of the Wellbeing Economy Alliance, called Wellbeing Economy Alliance Aotearoa New Zealand (WEAll Aotearoa NZ). On their website WEAll Aotearoa describe themselves as "a non-partisan and independent ‘think and do’ tank working to redesign Aotearoa New Zealand’s economy around the wellbeing of our people and te taiao. We use an evidence-informed approach and focus upstream to develop practical, long-term solutions for the public good." ^[13]

United Kingdom

Scotland

Wales

Main article: Well-being of Future Generations (Wales) Act 2015

United Nations Sustainable Development Goals

Main article: Sustainable Development Goals

Public opinion

A survey made by Ipsos for the organization Earth4All in 17 of the G20 countries, found that 68% of the respondents support prioritizing wellbeing over profit. ^[14]

See also

• Happiness economics
• Quality of life
• Sophie Howe

External links

OECD Better Life Initiative

International Wellbeing Economy Alliance (WEAll) group

References

1. McCartney, Gerry; Hensher, Martin; Trebeck, Katherine (2023-07-05). "How to measure progress towards a wellbeing economy: distinguishing genuine advances from 'window dressing'". Public Health Research & Practice. 33 (2). doi: 10.17061/phrp3322309 .
2. Fioramonti, Lorenzo; Coscieme, Luca; Costanza, Robert; Kubiszewski, Ida; Trebeck, Katherine; Wallis, Stewart; Roberts, Debra; Mortensen, Lars F.; Pickett, Kate E.; Wilkinson, Richard; Ragnarsdottír, Kristín Vala; McGlade, Jacqueline; Lovins, Hunter; De Vogli, Roberto (2022). "Wellbeing economy: An effective paradigm to mainstream post-growth policies?". Ecological Economics . 192: 107261. doi:10.1016/j.ecolecon.2021.107261. hdl: 11577/3452652 .
3. Nozal, Ana Llena; Martin, Neil; Martin, Fabrice. The Economy of Well-being: Creating Opportunities for People's Well-being and Economic Growth (Report). OECD.
4. "Building a New Scotland: A stronger economy with independence - summary". www.gov.scot. Scottish Government. Retrieved 2023-10-07.
5. "Wellbeing of Wales". Government of Wales. September 28, 2023.
6. "Wellbeing Economy Governments (WEGO)". Wellbeing Economy Alliance. Retrieved 2023-10-07.
7. The Geneva Charter for Well-being (Report). World Health Organisation.
8. Achieving well-being: a global framework for integrating well-being into public health utilizing a health promotion approach (Report). World Health Organisation. 30 May 2023.
9. "About WEAll". 21 July 2025.
10. "WEAll Ambassadors". Wellbeing Economy Alliance. 21 July 2025. Retrieved 21 July 2025.
11. Walters, Laura. "The Wellbeing Budget is dead". Newsroom. Retrieved 21 July 2025.
12. "New Zealand implementing the wellbeing budget". Wellbeing Economy Alliance. Retrieved 21 July 2025.
13. "About Us". Wellbeing Economy Alliance Aotearoa NZ. Retrieved 21 July 2025.
14. Allgood, Beth. "Understanding the Global Call for Wellbeing: Insights from Earth4All's Latest Survey". One Nature.