New Approach to Measure Wellbeing: A Case Study on Bangladesh

Abstract Understanding wellbeing is fundamental to any effort to enhance it. Using the latest World Values Survey (WVS), this study examines the incidence, intensity, and determinants of wellbeing in Bangladesh by constructing a multidimensional wellbeing index (MDWI). The study also provides some insights into how wellbeing changed during 2002–2018 in Bangladesh. The MDWI is calculated using twenty-five indicators corresponding to seven domains. The results indicate that, on average, Bangladeshi people experience a moderate level of wellbeing, and the health domain is the main contributor to wellbeing followed by finance, culture, safety, governance, religion, and science and technology. Intertemporal analysis reveals that over time, people’s wellbeing has increased. Notable differences in wellbeing were observed among the social class groups and administrative…