Measuring quality of life: A system of indicators

In this day and age, improving quality of life (QOL) remains a necessary prerequisite for social progress and the central goal of state policy in many countries worldwide, regardless of their economic development. The aim of this work is to propose a system of indicators able to describe the QOL of the population to the fullest extent possible. The research methodology includes an analysis of modern approaches to explaining the QOL concept and describing its main measurement criteria, as well as a matrix comparison of the fundamental characteristics of well-being. These methods’ application and the subsequently obtained results allow developing the model for the QOL measurement. The system of indicators proposed within this model implies the consideration of both objective and subjective indicators distributed into two blocks for convenience: the Accepted Living Standard (material and environmental indicators) and the Quality of Life Opportunities (individual, cultural, and social indicators). The QOL level is determined by the balance or imbalance between the mean values of these blocks. In such a manner, the study advocates that the modern QOL measurement should consider both objective well-being indicators, collected from the reports of the analysed country’s national statistics service, and subjective indicators characterising the citizens’ perceptions of well-being at the individual level.