Gross Well-being Factor (GWF)

Gross Domestic Product (GDP) has traditionally been used to measure economic and social progress. However, it has been proven that once a country reached a level of economic maturity, it does not reflect the happiness and well-being level of its citizens. Perhaps we need to develop an additional indicator, a Gross Well-being Factor (GWF) to measure holistically the quality of life in Singapore. This will help us craft national policies and chart the progress of society.

The GWF should measure, amongst other indicators, Singaporeans’ perception about their happiness level, social well-being, work-life balance, and life satisfaction. It should be conducted on a systematic, vigorous and regular basis, and be used to improve the livelihood of our people.

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