Tuesday, March 19, 2013

Consumption and happiness in Sweden

According to the Consumption report 2012, published by Centre for Consumer Science at School of Business, Economics and Law, University of Gothenburg, there is a correlation between happiness and consumption. The more a person consumes, the happier he or she will become. Based on analysis of the Swedish households’ expenditures in 2011 the report shows that there is a correlation between the individual’s subjective well-being and his or her level of consumption, whether we understand this happiness as real or not. Above all there are three forms of consumption that contribute to happiness: experiential consumption (e.g. air journeys), pro-social consumption (e.g. gifts and charity) and finally food consumption.

The Swedish households had expenditures of SEK 1620 billions in 2011. The households’ expenditures increased with 2.2 percent compared to 2010 and increased 26 percent compared to 2001.

•Expenditure groups that increased the most between 2001 and 2011 were: communication services (+102%), purchases by non-resident households in Sweden (+73%), furnishings, household equipment and routine maintenance of the house (+ 64%), leisure time and culture (+58%), clothing and footwear (+42%).

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