Research on the Correlation between Economic Factors and Quality of Life

This study is a pivotal examination of the intricate link between economic factors and residents' quality of life, underscoring its critical implications for policy-making and societal advancement. It delves into the multifaceted relationship between economic indicators like GDP, unemployment, income distribution, and quality of life elements such as health, education, and subjective well-being, particularly focusing on Qingdao, China from 2008 to 2018. Employing a hybrid methodology of quantitative and qualitative analysis, including secondary data and case studies, the research unveils a positive correlation between economic growth and improved living standards, while also highlighting the complexities and multidimensional aspects of this relationship. The findings suggest that while economic growth contributes to better quality of life, aspects like job creation, social equity, and public services are equally vital, advocating a balanced approach in policy-making to ensure equitable and sustainable societal development.