Indicators for measuring Well-being in Iceland

The Prime Minister‘s Committee on measurements for Well-being in Iceland has proposed a framework of 39 indicators that cover social, economic and environmental dimensions of quality of life. These indicators are intended to complement traditional economic measures, such as GDP, and monitor trends in people’s wellbeing. They are meant to look at the broader picture and inform government policy formulation. The indicators are linked to the UN Sustainable Development Goals, they are based on official statistics and allow for international comparison. Developing such indicators is a step towards ensuring common understanding of what factors make our lives better.

According to a survey commissioned by the committee, the general public in Iceland views health (i.e. good health and access to healthcare) to be the most significant factor in quality of life. This was followed by relationships (i.e. with friends, family, neighbours and colleagues), housing (secure housing, cost of housing, supply of housing) and making a living (income and assets).

Kartín Jakobsdóttir, Prime Minister, introduced the proposed indicators in the Inclusive Growth and Well-being Symposium in Reykjavík on 16 September. Other speakers at the Symposium were Bjarni Benediktsson, Minister of Finance and Economic Affairs, Derek Mackay, Finance and Economy Secretary of Scotland, Angel Gurría, Secretary General of the OECD and Dr. Kristín Vala Ragnarsdóttir, Professor at the University of Iceland.

A link to a recording from the Inclusive Growth and Well-being Symposium.

Summary of the Committee’s report