A wellbeing economy is a system for making decisions that helps a country achieve goals related to society, health, culture, fairness, and the environment. The goal is to use more than just gross domestic product (GDP) to measure how well the economy is doing. Since the early 2000s, more people have been studying and using wellbeing as a way to measure and create policies.
National and international adoption
Many countries have started using wellbeing metrics to help make decisions about public policies and how money is spent. These metrics focus on areas like education, health, gender equality, and inclusion. This approach has become official national policy in several countries, including Scotland, New Zealand, Iceland, Wales, Finland, and Canada. These countries formed the Wellbeing Economy Governments partnership (WEGo) in 2021.
International organizations, such as the World Health Organization (WHO), have also used wellbeing as a way to address complex challenges related to society, the environment, and public health. This idea was first shared in 2021 with the creation of the Geneva Charter for Wellbeing. In May 2023, the WHO Assembly approved a global plan to include wellbeing in public health efforts using a health promotion approach.
The Wellbeing Economy Alliance (WEAll) is a group of organizations, alliances, movements, and individuals working to create a Wellbeing Economy. WEAll was started in 2018 as a temporary project to encourage a shift toward a Wellbeing Economy. It aims to connect and collaborate with different groups in the new economy ecosystem so they can achieve greater results together.
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.
Well-being washing
Well-being washing, or WW (a term that combines "well-being" and "whitewashing"), is a marketing tactic that uses misleading public relations and common phrases to make people believe an organization truly cares about employee health and happiness. Instead of offering real support, companies may provide surface-level actions, such as occasional yoga classes, short talks, or small benefits, that do not solve problems like long work hours, lack of control over work, and poor balance between work and personal life. Well-being washing may try to treat the symptoms of these issues without fixing the real problems. This practice happens at the same time as green-washing and the growth of the wellbeing economy.
Notable examples
New Zealand was one of the first countries to take action. In May 2019, under Jacinda Ardern’s Labour Government, New Zealand introduced its first Wellbeing Budget. This budget aimed to focus on people’s wellbeing and the environment in its policies. Instead of only using GDP as a measure, the government chose five areas to prioritize: climate and environment, productive work, opportunities for Māori and Pacific people, child wellbeing, and mental and physical health.
Prime Minister Ardern said, “The goal of government spending is to improve citizens’ health and happiness. A country’s progress should be measured by these factors, not by wealth or economic growth. GDP alone does not ensure better living standards, and it does not consider who benefits and who is left out.”
The approach was changed by the next National-led government in 2024.
New Zealand has a group called Wellbeing Economy Alliance Aotearoa New Zealand (WEAll Aotearoa NZ). On their website, they describe themselves as a non-partisan and independent group that works to change New Zealand’s economy to focus on people’s wellbeing and the environment. They use evidence-based methods and work on long-term solutions for the public good.
Public opinion
A survey conducted by Ipsos for the group Earth4All in 17 of the G20 countries showed that 68% of the people surveyed support putting people's well-being before making money.