The economy of wellbeing is a decision-making approach where the solutions found by examining the links between various components of wellbeing and the economy help to achieve a better balance between the economic, social and ecological dimensions of sustainability. It is important to develop the economy of wellbeing in order to make the social dimension of sustainability a balanced part of sustainability assessment. This way the economy of wellbeing does not only bring the perspectives of the sustainability of wellbeing, the economy and the environment closer together but it also changes decision-making and administration.

The National Action Plan for the Economy of Wellbeing includes five recommendations for promoting the economy of wellbeing between 2023 and 2025. These are: 1. continuing the preparation of the guidance model for the economy of wellbeing; 2. examining how the monitoring of wellbeing, as part of sustainability thinking, can be made a more integral part of the key decision-making processes of the central government, regions and municipalities; 3. developing impact assessments and strengthening competence; 4. exercising influence within the EU, incl. the European Semester for economic policy coordination; and 5. strengthening inclusion.

A cross-sectoral and multidisciplinary steering group on the economy of wellbeing appointed by the Ministry of Social Affairs and Health was responsible for drawing up this Action Plan for the Economy of Wellbeing that is suitable for Finnish conditions. The Action Plan was prepared by an intersectoral multi-operator division working under the steering group.