Assessing Welfare and Happiness Levels in Asian Countries: An Analysis Using Clustering and Discriminant Analysis

Authors : Dilek VEYSİKARANİ

Pages : 46-65

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Publication Date : 2023-12-31

Article Type : Research Paper

Abstract :This study examines and categorizes the well-being and happiness levels of Asian countries in the year 2023. The Legatum Prosperity Index is used for measuring well-being, while the World Happiness Index data is employed for assessing happiness. The study utilizes clustering analysis and discriminant analysis methods to group Asian countries based on their well-being and happiness levels. The results indicate that countries with similar characteristics have been grouped into five distinct clusters In line with the results obtained, countries with high national income such as South Korea, Israel, Japan, Cyprus, Taiwan and Singapore are united in a common cluster. On the other hand, countries like Afghanistan and Yemen, characterized by low global happiness and well-being levels, form a separate cluster. The results of the discriminant analysis show that countries have been accurately classified into these clusters with a 97.5% accuracy.
Keywords : Welfare Index, Happiness Index, Cluster Analysis, Discriminant Analysis