Panama is number one in a measure of well-being of 135 countries.
This video makes it clear – Panama’s people are “thriving.” When considering where to spend your time, be around people who are happy and optimistic about the future. All of that joy is bound to rub off.
The research measured five components of well-being: Purpose, Community, Financial, Physical, and Social.
- “Purpose: liking what you do each day and being motivated to achieve your goals
- Social: having supportive relationships and love in your life
- Financial: managing your economic life to reduce stress and increase security
- Community: liking where you live, feeling safe, and having pride in your community
- Physical: having good health and enough energy to get things done daily”
Gallup comes to some interesting conclusions in a Gallup article by Melanie Standish and Dan Witters in the Well-Being Journal:
“Panama leads not only the region, but the world in four of the five well-being elements — purpose, social, community, and physical well-being. Sixty-one percent of Panamanians are thriving in three or more elements, 17 percentage points ahead of its second-place neighbor, Costa Rica (44%). Panama’s strong and growing economy, an unemployment rate of 4.5% in 2013, and national development may be the most significant factors contributing to its high thriving levels.
Financial well-being is the only element in which other countries’ residents top Panama’s. Swedes lead the world in financial well-being, with 72% thriving. Financial well-being is high across a range of northern and central European countries, including Austria (64% thriving), Denmark (59%), and the Netherlands (56%).”
Objective measures including GDP, life expectancy, and employment statistics are important and useful in assessing a country’s “success,” as are historical trends over time. However, the concept of subjective well-being encompasses the broader aspects of a life well-lived.
Gallup and Healthways research has shown that people with higher well-being are healthier, more productive, and more resilient in the face of challenges such as unemployment. People with higher well-being bounce back faster, are better able to take care of their own basic needs, and feel better able to contribute to and support the success of their organizations, communities, or countries….
Because subjective well-being can correlate with outcomes such as healthcare costs, productivity, and business performance, world leaders should consider well-being, in addition to objective measures such as GDP, to provide a better picture of progress toward specific policy and development goals.”