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Australia is the best place in the world – OECD Better Life Index

Is life really getting better? How can we tell?

What are the key ingredients to improving life– is it better education, environment, healthcare, housing or working hours?

Does progress mean the same thing to all people or in all countries and societies?

Well…the OECD has been working for more than a decade to identify the best way to measure the progress of societies – moving beyond GDP and examining the areas that impact people’s lives.

In 2011, the culmination of this work was presented in the OECD Better Life Initiative.

Better Life Initiative

The OECD Better Life Initiative focuses on developing statistics to capture aspects of life that matter to people and that shape the quality of their lives.

According to them this allows for a better understanding of what drives the well-being of people and nations, and what needs to be done to achieve greater progress for all.

The OECD has identified 11 dimensions as being essential to well-being, from health and education to local environment, personal security and overall satisfaction with life, as well as more traditional measures such as income.

And the good news is…

As you can see from the following graphic, Australia is the best place in the world. (But you already knew that didn’t you?)Better-Life-Index



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About

Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


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