What if economic success were measured not solely by GDP, but by the quality of people's lives? What if politics were driven not by top-down decision-making, but by an active engagement with citizens' needs? These are the fundamental questions that guided my decision to launch The Economy of Wellbeing: Bridging the Gap. The findings of this study highlight a crucial reality: our current economic model will need refining to adequately reflect the priorities of the people in today's age. It is now imperative that we address this gap.
Our research confirms that wellbeing in Malta is profoundly influenced by family (93.8%), career stability (52.2%), and community ties (33.0%). While younger generations prioritise friendships and leisure, older individuals place greater emphasis on religion and social engagement. Across all demographics, financial security remains a fundamental concern, with economic stress weighing particularly heavily on younger people navigating a job market in search of their dreams and facing the cost-of-living realities.
Over 30% of respondents identified work-life balance as a significant source of dissatisfaction, despite half of them valuing leisure time highly. This disparity underscores a system that prioritises productivity while leaving little space for personal well-being. If we aspire to build a healthier and more fulfilled society, we must advance policies that promote flexible work arrangements, fair wages, and adequate personal time. Such measures will not only enhance individual wellbeing but also foster a more productive and resilient economy.
While family networks remain strong in Malta-95.3% of respondents reported high trust in their relatives-confidence in the broader community is alarmingly low. Only 30.8% of respondents trust most people, while 43.5% rarely trust others at all. This erosion of social cohesion is a concerning trend that must be addressed. Strengthening trust requires targeted policies that encourage civic engagement, social interaction, and transparent governance. This will have to start from the empowerment of the village, the smallest organisations and centres grooming our new generations through arts, culture, and sport.
This study is not merely an academic exercise; it represents a bottom-up approach to policymaking-one that places citizens' perspectives at the heart of legislative initiatives. For too long, political decisions have been made without meaningful engagement with those they affect. With these findings in hand, the next step is to take them back to the people, ensuring that their voices continue to shape the policy process.
Through Għid Tiegħek: Infasslu l-Futur Flimkien, we will kickstart the next phase of this study, translating insights into concrete actions aspired by the people. These findings will serve as a foundation for my legislative work in the European Parliament over the next five years. Economic policy must be aligned with real human needs, and I am committed to advocating for policies that reflect this principle.
We face a clear choice: persist with economic indicators which tell us very little about people's lives, or embrace a new paradigm-one in which wellbeing is not a secondary concern, but a central objective. The voices of the people have been heard. It is now our duty to translate their concerns into tangible action.
Thomas Bajada is a Labour MEP