Quality of life


Quality of life is a set of factors that gives a person well-being, both materially and emotionally.

In other words, the quality of life is a series of conditions that an individual must enjoy in order to satisfy their needs. This, so that you not only survive, but live in comfort.

The quality of life encompasses various aspects, which can be subjective, such as enjoying free time for a hobby, or objective, such as having a home with all the basic services.

Quality of life factors

The factors that affect the quality of life are the following:

  • Physical well-being: It refers to the health and physical integrity of the person. This implies, for example, access to a quality hospital and living in a city with low levels of crime. At that point, access to good nutrition also enters, which has to do with the available supply of food, but also with the information that is provided to the public so that they can consume products that not only satisfy their hunger, but are also nutritious.
  • Material well-being: It refers to the level of income and the possession of goods. An individual, for example, should be able to earn at least what is necessary to cover their basic needs.
  • Social welfare: It is everything related to interaction with other people. We refer, for example, to enjoying a solid group of friends and a healthy family environment. This also includes participation in community activities where integration between members of a neighborhood or a social group is facilitated.
  • Emotional well-being: It is about the psychological aspect, it is related to the development of high self-esteem and mental stability.
  • Personal development: It means that the person feels that he is fulfilling his aspirations, feeling fulfilled. This implies that the individual can carry out, for example, the studies they want (access to education) and can work in the labor field that is of greatest interest to them.

Human development Index

One way to measure quality of life can be the Human Development Index (HDI). This is an indicator born from the hand of the United Nations Development Program (UNDP) that measures the level of development of each country according to variables such as life expectancy, education or per capita income.

The indicator has been carried out since 1990 by the UN, replacing previous growth analyzes, which did not emphasize the human aspect and its development, and focused especially on the point of view of economic well-being. In other words, previously only the growth of gross domestic product (GDP) was observed.

Tags:  finance economic-analysis economic-dictionary 

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