Published: 19 August 2024
A new animation produced by the Policy and International Health Directorate, a World Health Organization (WHO) Collaborating Centre at Public Health Wales explains the concept of the Wellbeing Economy and its approach and application in Wales, in an easy to understand format.
Wellbeing economies focus on people and planet over profit and help to develop prosperous, fairer, healthy communities and societies as well as promote trust in governments and public service. They deliver sustainable, more equitable and effective policies, financing, and practices through wide public, private and civic engagement, co-production, and joint action.
The wellbeing economy works by investing to produce human, social, environmental, and economic wellbeing capital.
In Wales, the wellbeing economy approach is linked to the Wellbeing of Future Generations (Wales) Act 2015, which redefines the goals of economic development in order to prioritise the wellbeing of the population.
The Welsh NHS is a key economic sector contributing to the shift to a wellbeing economy in Wales, driving the local economy through local procurement, income generation and employment. Public Health Wales is working closely with the WHO, Welsh Government and Health Boards across Wales to inform decision-making and spending prioritisation, generating and mobilising evidence, best practice, and international expertise, and developing innovative tools and approaches.
Sumina Azam, National Director of Policy and International health and the World Health Organization Collaborating Centre at Public Health Wales, said:
“The wellbeing economy is a concept that benefits the societies in which it operates, as it prioritises a range of areas and not just financial profits.
“Our work supports the wellbeing and foundational economies in Wales promoting and informing a value-based way of working, which enables measuring the social value and wellbeing impacts on people, communities and the environment, as well as the economy.
“This animation, along with a range of other tools, is part of our work with WHO and knowledge exchange with other countries, helping to bring learning and understanding for wellbeing policies and investments to Wales.”
Chris Brown, Head of the WHO European Office for Investment for Health and Development in Venice, Italy, said:
“Through its European Well-being Economy Initiative, WHO/Europe works to demonstrate the co-benefits of investments in well-being, equity, and healthy societies for sustainable and inclusive development.
“Wales is one of the few nations globally where well-being is underpinned by legislation. Working together with WHO/Europe and the WHO European Office for Investment for Health and Development, Wales is set to establish itself as an innovation site for enabling and progressing well-being economies.”
To view the animation, and to learn more about the wellbeing economy in Wales click here: