K aus, Na aliia; K aus, Ka e yna
A icle
De elopmen o he wel a e economy and he economy o
imp essions on he basis o inclusion and social inno a ion
Economic Fo um
P o ided in Coope a ion wi h:
Lu sk Na ional Technical Uni e si y
Sugges ed Ci a ion: K aus, Na aliia; K aus, Ka e yna (2025) : De elopmen o he wel a e economy
and he economy o imp essions on he basis o inclusion and social inno a ion, Economic Fo um,
ISSN 2415-8224, Lu sk Na ional Technical Uni e si y, Lu sk, Uk aine, Vol. 15, Iss. 2, pp. 8-17,
h ps://doi.o g/10.62763/e /2.2025.08
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De elopmen o he wel a e economy and he economy
o imp essions on he basis o inclusion and social inno a ion
Na aliia K aus*
Doc o o Economic Sciences, P o esso
Bohdan Khmelny skyi Na ional Uni e si y o Che kasy
18031, 81 She chenko Bl d., Che kasy, Uk aine
h ps://o cid.o g/0000-0001-8610-3980
Ka e yna K aus
PhD in Economic Sciences, Associa e P o esso
Bohdan Khmelny skyi Na ional Uni e si y o Che kasy
18031, 81 She chenko Bl d., Che kasy, Uk aine
h ps://o cid.o g/0000-0003-4910-8330
Sugges ed Ci a ion:
K aus,N., & K aus, K. (2025). De elopmen o he wel a e economy and he economy o imp essions on he basis o inclusion and
social inno a ion. Economic Fo um, 15(2), 8-17. doi:10.62763/e /2.2025.08.
Copy igh © The Au ho (s). This is an open access a icle dis ibu ed unde he e ms o he
C ea i e Commons A ibu ion License 4.0 (h ps://c ea i ecommons.o g/licenses/by/4.0/)
*Co esponding au ho
Abs ac . The ele ance o his s udy lies in he inc easing numbe o coun ies wo ldwide ha a e p io i ising
popula ion wel a e as a key policy objec i e. In he pos -wa pe iod, Uk aine should ocus on os e ing inclusi eness
and cul i a ing an equi able cul u e ha akes in o accoun he in e es s o all membe s o socie y. This esea ch aimed
o examine he componen s o inclusi e de elopmen wi hin he na ional economy, based on social inno a ions, and
o iden i y he ela ionship be ween he wel a e economy and he expe ience economy. The p ima y ou comes o
he s udy included he jus i ica ion and explo a ion o he elemen s o inclusi e economic de elopmen g ounded in
social inno a ions ha seek o enhance he popula ion’s wel a e. Pa icula a en ion was gi en o social inno a ions
ha p omo e he c ea ion o a ba ie - ee en i onmen wi hin Uk ainian socie y. Da a on he compound annual
g ow h a e o he global segmen ed en e ainmen and media ma ke o 2024-2028 we e analysed, indica ing he
dynamic e olu ion o he expe ience economy. The au ho ’s pe spec i e on he in e ela ionship be ween he wel a e
economy and he expe ience economy in he con ex o inclusi e de elopmen was p esen ed. An o e iew o exis ing
concep s and app oaches o he o ma ion and ad ancemen o he wel a e economy was p o ided. The Fi s and
Second Wel a e Theo ems we e examined, along wi h he ounda ional ideas in oduced by he pionee ing schola s
o wel a e heo y. The p ac ical alue o he s udy lies in subs an ia ing he in luence o social inno a ions, digi al
echnologies, inclusion, and accessibili y on consump ion pa e ns wi hin bo h he wel a e and expe ience economies
Keywo ds: expe ience economy; inclusi e de elopmen ; ba ie - ee; accessibili y; i ual wo ld; inequali y
ECONOMIC FORUM
Jou nal homepage: h ps://e- o um.com.ua/en
Vol. 15, No. 2, 2025, 8-17
A icle’s His o y: Recei ed: 30.12.2024 Re ised: 20.03.2025 Accep ed: 24.04.2025
UDC (330.5+338.2):(316.34+001.89) DOI: 10.62763/e /2.2025.08
In oduc ion
The wel a e o he popula ion is o g owing impo ance
o na ion-s a es. Go e nmen s ac oss a ious o di -
e en coun ies a e demons a ing inc easing in e es
in he spi i ual and physical well-being s a e o each
membe o socie y. Wel a e can be enhanced h ough
he combined e o s o indi iduals, public bodies, and
go e nmen al o ganisa ions, u ilising he po en ial o
ins i u ional and o ganisa ional app oaches. “The eco-
nomics o wel a e is becoming e en mo e ele an , as
he economic app oach is apidly being implemen ed in
a i icial in elligence (AI) and machine lea ning (ML) sys-
ems” (Coylee al.,2023).
Achie ing a high le el o wel a e in Uk aine is
challenging due o exis ing inequali y, inancial and
economic c ises, and he imposi ion o ma ial law.
Ne e heless, bo h au ho i ies and socie y mus make
e e y e o o imp o e he indica o s o he wel a e
economy (WE) and p omo e he de elopmen o he
expe ience economy (EE). In he pos -wa pe iod, em-
phasis should be placed on os e ing inclusi eness and
K aus & K aus
Economic Fo um, 2025, Vol. 15, No. 2
9
in e connec ions. Resea ch objec i es: 1) o p opose,
cha ac e ise, and p esen he ele ance o he com-
ponen s o inclusi e na ional economic de elopmen
based on social inno a ions aimed a enhancing popu-
la ion wel a e; 2) o ou line he po en ial economic ben-
e i s, p ospec s, and alue ha he EE and WE may o e
in he nea u u e; 3) o examine he in e ela ionship
be ween he WE and he EE in condi ions o inclusi e
de elopmen and o analyse exis ing concep s and ap-
p oaches o he o ma ion and ad ancemen o he WE,
including he Fi s and Second Wel a e Theo ems.
Ma e ials and Me hods
The heo e ical basis o his s udy d awn on academ-
ic ma e ials by esea che s om he Uni ed Kingdom,
he USA, Canada, Tu key, G eece, China, and Uk aine,
which enabled he e alua ion and compa ison o di-
e se app oaches, pe spec i es, and heo ies conce n-
ing he na u e and impo ance o he WE and EE in p o-
mo ing na ional economic p ospe i y and imp o ing
quali y o li e. The ime ame o he bibliog aphic e-
iew and analy ical assessmen was su icien ly b oad
o allow o a comp ehensi e academic in es iga ion,
co e ing he pe iods be o e, du ing, and a e he COV-
ID-19 pandemic, mili a y con lic s, economic ins abili y,
and poli ical ensions.
The sou ce o s a is ical da a o he p esen s udy
was he epo ing ma e ials o he In e na ional Mon-
e a y Fund, which con ained coun y-le el ankings
based on GDP (G oss domes ic p oduc ) pe capi a, he
consume p ice index (in la ion), and he employmen
index (GDP pe capi a, cu en p ices,2025; In la ion
a e, a e age consume p ices,2025; Unemploymen
a e, 2025). This da ase enabled a comp ehensi e
and quali a i e c oss-coun y compa ison o economic
s eng h and social s abili y, acili a ing he iden i ica-
ion o ac o s con ibu ing o ei he leade ship o un-
de pe o mance in he anking. The Human De elop-
men Repo 2023/2024, p epa ed by P.Conceiçãoe
al.(2024) wi hin he amewo k o he Uni ed Na ions
De elopmen P og amme (UNDP), o med ano he
ounda ional elemen o he esea ch. I p o ided coun-
y-le el da a on he Human De elopmen Index (HDI),
a key indica o ac o in assessing na ional well-being.
In addi ion, he s udy d ew on s a is ical da a om he
in e na ional audi and consul ing i m PwC (P icewa-
e houseCoope s), which moni o ed he s a e o he
en e ainmen and media ma ke in 2024 and o e ed
o ecas s up o 2028. This analysis conside ed ising
public in e es in digi al echnologies, leisu e, educa-
ion, and daily ac i i ies (Global en e ainmen & media
ou look 2024-2028…, 2024). Acco dingly, he da a used
in his s udy o e ed insigh s in o bo h he cu en s a e
o he WE and he en e ainmen economy and enabled
a me hodologically g ounded scien i ic in es iga ion.
To achie e he esea ch objec i es, he ollowing
scien i ic me hods we e applied: he s uc u al-logical
cul i a ing an equi able cul u e ha espec s he in e -
es s o all Uk ainians, aking in o accoun physical and
psychological cha ac e is ics, social s a us, eligion,
age, and gende .
Leading na ions in he p og essi e ad ancemen o
he WE include Singapo e (7 illion USD), Sou h Ko ea,
and Japan. In e ms o EE, he Uni ed S a es holds he
leading posi ion (6.5 illion USD), ollowed by he Uni -
ed Kingdom and Ge many (D zeniek e al.,2024). The
s eng hs behind he de elopmen in hese coun ies
include coo dina ed collabo a ion be ween go e nmen
and indus y, as well as s ong po en ial in he ields o
cul u e, en e ainmen , and, no ably, spo s. Resea ch-
e s D.Coylee al.(2023) aised he issue o a po en ial e-
con igu a ion o he WE. They suppo ed his a gumen
conce ning p esen conce ns such as mo al p inciples,
human beha iou unde he in luence o digi al echnol-
ogies, he clima e c isis, deba es su ounding economic
inequali y, he pandemic, acial and gende issues, and
he eme ging heo e ical and empi ical ounda ions o
he wel a e economy in he 21s cen u y.
C.Ca bonnie (2023) explo ed he ques ion o in e -
gene a ional jus ice g ounded in well-being. The au ho
no ed ha , wi hin a ypical socie y, inc eased pu chas-
ing powe o e ime gene ally con ibu es o g ea e
well-being; howe e , his ela ionship became signi i-
can ly mo e complex ac oss gene a ions. Addi ionally,
Y.-K.Ng(2023) examined he impac o changes in he
ax sys em on well-being– a guing ha highe axes on
he weal hy could bene i he less a luen . On he o h-
e hand, such measu es “may lead o he ich and poo
ha ing less incen i e o ea n highe incomes”. In exam-
ining he EE, esea che s F.Şeke & K.Unu (2022) con-
cluded ha he quali y o en e ainmen and he le el o
sa is ac ion de i ed om i ha e a di ec impac on he
EE. They also in es iga ed he in luence o he ou ism
sec o , highligh ing ha pe cep ions o en e ainmen ,
a elle sa is ac ion, beha iou al in en ions, and ec-
ommenda ions om acquain ances and a el agencies
play a signi ican ole in shaping his economy.
Gene al aspec s o he o ma ion and de elopmen
o he WE h ough he p ism o social inno a ions ha e
been explo ed in he esea ch o K.K ause al.(2022),
while V.L.Ose skyie al.(2020) ha e examined a ious
aspec s o he EE in he con ex o he digi al ans o ma-
ion o business models. Howe e , nume ous issues–
such as models o shaping he expe ience economy
h ough he lens o inclusion and accessibili y and he de-
elopmen o he WE h ough no el applica ions o social
inno a ions – emain unde explo ed. Mo eo e , he e
was a lack o clea unde s anding ega ding he speci -
ic ela ionship be ween he WE and he EE wi hin he
amewo k o inclusi i y and ba ie - ee en i onmen s.
This esea ch aimed o examine he componen s o
inclusi e de elopmen in he na ional economy, explo e
he economic bene i s and u u e po en ial o bo h he
expe ience economy and well-being, and iden i y hei
De elopmen o he wel a e economy...
Economic Fo um, 2025, Vol. 15, No. 2
10
me hod used o es ablish he ela ionship be ween he
WE and he EE and o iden i y and assess componen s
o inclusi e na ional economic de elopmen based on
social inno a ions. The g ouping me hod was employed
o p esen indica o s desc ibing popula ion wel a e in
h ee g oups o coun ies, classi ied by GDP pe capi a.
This acili a ed he iden i ica ion o socio-economic de-
elopmen ends and he unde lying causes o dispa i-
ies. The compa a i e me hod suppo ed he academic
e iew o a ious concep s and app oaches ela ed o
he o ma ion and de elopmen o he WE. The me h-
od o scien i ic ac s enabled a clea p esen a ion o he
key ideas unde lying he Fi s and Second Wel a e Theo-
ems. Me hods o analysis and syn hesis we e employed
o examine he impac o social inno a ions, digi al ech-
nologies, inclusion, and accessibili y on consump ion
s uc u es wi hin he WE and EE. Finally, he me hod o
conc e isa ion was used o iden i y and e alua e he spe-
ci ic elemen s linking he WE and EE in inclusi e se ings.
Resul s and Discussion
When conside ing well-being, associa ions ypically
a ise wi h a ce ain le el o human p ospe i y, cha ac-
e , and an imp o emen in social s a us. In pa allel, one
may also speak o weal h, happiness, wel a e, and good
heal h, all o which a e in luenced by p ospe i y.
I.K.Tsa ae al.(2024) a gued ha i was necessa y
o e ise he adi ional unde s anding o a popula ion’s
wel a e. In addi ion o GDP, o he indica o s ha e lec
economic well-being and p ospe i y should be iden i-
ied and conside ed. The e icien alloca ion o a ailable
esou ces was o pa icula signi icance, u he em-
phasising he indispensable ole o inancial esou ces
in ensu ing social secu i y and he wel a e o socie y’s
membe s (Liue al.,2024). Indica o s commonly used o
assess popula ion wel a e include GDP pe capi a, he
consume p ice index, he unemploymen a e, and HDI.
Table1 p esen ed h ee g oups o coun ies, ca ego ised
by indica o s ha de ined high, medium, and low WE.
Sou ce: based on P. Conceiçãoe al.(2024), GDP pe capi a, cu en p ices (2025), In la ion a e, a e age consume
p ices(2025), Unemploymen a e(2025)
Coun ies GDP pe capi a in Janua y
2025, housands o USD
Consume p ice index
in Janua y 2025, %
Unemploymen a e
in Janua y 2025, %
HDI in 2022,
alue
Luxembu g 141.08 2.6 5.9 0.927
Swi ze land 111.72 1.0 2.5 0.967
I eland 107.24 1.8 4.4 0.950
Singapo e 93.96 2.2 1.9 0.949
No way 90.32 2.4 3.8 0.966
I aly 41.71 2.1 7.2 0.906
Cyp us 40.55 2.0 5.1 0.907
Spain 37.36 1.9 11.2 0.911
Slo enia 36.5 2.7 3.5 0.926
Japan 35.61 2.0 2.5 0.920
Geo gia 9.61 2.6 14.5 0.814
Moldo a 8.16 5.0 3.5 0.763
Uk aine 5.76 9.0 12.7 0.734
Indonesia 5.25 2.5 5.1 0.713
Vie nam 4.99 3.5 2.0 0.726
Table 1. Indica o s o popula ion wel a e in selec ed coun ies
As o Janua y 2025, he highes wel a e indica o s
we e obse ed in Luxembou g, Swi ze land, I eland,
Singapo e, and No way. Uk aine exhibi ed a low le el o
popula ion wel a e, wi h GDP pe capi a amoun ing o
5.79 housand USD a he beginning o 2025 (Table1).
Uk aine’s consume p ice index was 6.4% highe han
ha o Luxembou g. The unemploymen a e in Uk aine
was 2.15 imes highe han in Luxembou g, and i s HDI
was 0.193 poin s lowe . The WE was p ojec ed o each
app oxima ely 9 illion USD by 2030. Among he p io -
i ies o his economy we e holis ic heal h and pe sonal
de elopmen , alongside a global shi owa ds p oac i e
wellness s a egies (D zenieke al.,2024). Howe e , he
de elopmen o he WE con inued o be hinde ed by a
gene al lack o genuine awa eness among indi iduals
ega ding hei own p e e ences. I was essen ial o
shape hese p e e ences a he han me ely gene alise
(Coylee al.,2023).
The economic unde s anding o imp o ing li e
and wel a e, ha was, some p ospe i y, can o en be
achie ed a he expense o spi i ual p ospe i y. By
spending mo e ime a wo k o imp o e one’s economic
si ua ion, a pe son sac i ices hei spi i ual de elopmen
as hey wo k excessi e hou s. Mo e ime spen in he
K aus & K aus
Economic Fo um, 2025, Vol. 15, No. 2
11
wo kplace nega i ely a ec ed a pe son’s heal h and con-
sumes ime ha could o he wise be dedica ed o achie -
ing pe sonal happiness.
The desi e o s eng hen physical condi ion, psycho-
logical well-being and spi i ual en ichmen has led peo-
ple o adop an ac i e li es yle. They isi ed museums,
engaged in ac i e ec ea ion such as skiing, and u ned
o “g een” ou ism du ing he summe mon hs. In he
21s cen u y, he wel a e o he popula ion has been e-
lec ed in he possibili y o combining physical and men-
al de elopmen , while simul aneously exis ing wi hin
se e al eali ies– namely: i ual, augmen ed, en iched,
imp o ed, expanded and mixed. A.M. Feldman (1987)
no ed ha he mos e ec i e go e nmen policy o in-
c easing a na ion’s weal h was one ha in ol ed min-
imal in e en ion. Resea che P.J.Hammond(1997) a -
gued ha he i ual e e ence o pe ec compe i ion
was conside ed e icien . N.K aus(2014) p esen ed o -
ganised logical diag ams, ables and isual illus a ions
ha helped cla i y he de elopmen and p og ession o
concep s, heo ies, and pe spec i es on economic p o-
cesses. N.V. Tomchuk-Ponoma enko (2020) examined
he main scien i ic di ec ions o he heo y o wel a e
economics and i s cha ac e is ics. The exis ing concep s
and app oaches o he o ma ion and de elopmen o
he wel a e economy we e summa ised in Table2.
Sou ce: based on M. Blaug (2007), B.J. Pine & J.H. Gilmo e (2011), S. D akopoulos & I. Ka selidis (2023)
Scien is s Con en and gene al cha ac e is ics o scien i ic iews and concep s
A. Pigou P ospe i y inc eases when he na ional p oduc is dis ibu ed mo e equi ably ac oss he popula ion. In u n,
income ola ili y dec eases when income is s able and business cycles s abilise
T.J. Besley WE p o ides a amewo k o assessing he achie emen s o he ma ke and he esponsibili ies o poli ical
decision-make s
V. Pa e o
A Pa e o-e icien s a e o a ai s can only a ise i ce ain c i e ia a e me , namely:
−a he MRS (Ma ginal Ra e o Subs i u ion), consump ion o any wo goods is he same o all indi iduals;
−MRT (Ma ginal Ra e o T ans o ma ion) in p oduc ion o any wo goods is he same o all p oduce s;
− he MP (Ma ginal P oduc ) o an inpu ac o (e.g., labou ) mus be he same o all p oduce s o he good;
−MRS in consump ion equals MRT in p oduc ion o any pai o goods
V. Pa e o,
A.Ma shall,
G.Sidgwick,
F.Edgewo h
The ca dinalis concep assumes ha he consume quan i ies he ex en o hei sa is ac ion; addi ional
consump ion yields diminishing ma ginal u ili y, and all indi iduals commensu able u ili y unc ions
J.Hicks,
N.Kaldo ,
P.Samuelson
The o dinalis app oach s a ed ha i a consume was unable o quan i a i ely measu e he sa is ac ion o
needs, hen in such ci cums ances, an o dinal le el o u ili y measu emen was used
G.Ho elling
A scien is in es iga ed he p oblem o he op imal use o exhaus ible esou ces, showing ha he op imal
s a egy o using such esou ces should be aimed a p ese ing hem o u u e gene a ions. This became
known as “Ho elling’s ule”
B.J. Pine &
J.H.Gilmo e
Fo he i s ime, esea che s p o ided an in e p e a ion o he EE, no ing ha i s p oduc was he
imp essions ha companies should p o ide o consume s by o ganising in e es ing and memo able
e en s. These imp essions will emain in he memo y as a p oduc . Imp essions can ha e bo h a posi i e
and nega i e impac on an indi idual’s li e. The esea che s sugges ed combining goods and se ices in a
quali a i e manne so ha imp essions became possible and posi i e. Fo he imp ession economy, i was
expe ience ha he p oduc be o high quali y and necessi y, and he se ice be o a high s anda d
Table 2. Concep s and app oaches o he o ma ion and de elopmen o he WE and EE
The WE in he 21s cen u y was s udied bo h h ough
he p ism o maximising popula ion wel a e a he mac-
o le el– by op imising p oduc ion e iciency wi hin and
be ween companies– and h ough he p ism o indi idu-
al wel a e (Ca bonnie ,2023). The au ho Y.-K.Ng(2023)
no ed ha wel a e economics can be de ined as a ield
o s udy ha o mula es p oposi ions by which one can
de e mine whe he social wel a e in one economic si u-
a ion was highe o lowe han in ano he . Wel a e was
de ined as indi idual happiness. This b anch o econom-
ics s udies wel a e om he pe spec i e o indi iduals’
economic beha iou as hey seek o op imise and en-
hance hei well-being. WE enabled he measu emen o
socie al wel a e le els and allowed o he iden i ica ion
o he mos app op ia e economic policy o op imise e -
iciency and achie e a gene al op imum.
Schola s A.R.Vining & D.L.Weime (1992) examined
WE as a amewo k o analysing public policy. While
based on u ili a ianism, which hey iewed as unda-
men ally lawed as an e hical heo y and inadequa e as
a ounda ion o go e nance, hey a gued ha “ he o-
cus o wel a e economics on ma ke ailu es can c ea e
a bias in a ou o s a e in e en ion in p i a e choices…
so he concep ual amewo k o policy analysis should
include compa a i e a en ion o gene al p oblems in-
he en in collec i e ac ion”.
Mode n s udies o he cha ac e is ics o he unc ion-
ing o wel a e economics we e g ounded in he Fi s and
Second Theo ems o WE. The economis K.J.A ow(1951)
indica ed ha he wel a e economics heo em can be
applied o scena ios in which social op ima ake he
o m o co ne maxima and whe e he p e e ence se s o
De elopmen o he wel a e economy...
Economic Fo um, 2025, Vol. 15, No. 2
12
socie y’s membe s include sa u a ion poin s. W.D.A.B y-
an (1994) cla i ied he Second Fundamen al Theo em o
WE, s a ing ha any p e e ed Pa e o op imum can be e-
alised h ough ma ke p icing. V.Ho yn(2020) examined
he cu en si ua ion and he challenges in shaping so-
cial wel a e using esou ces om he non-go e nmen al
sec o o he economy. M.Johnson(2024) poin ed ou
ha some o he o iginal o ces shaping economics
we e hose conce ned wi h social choice and he poli i-
cal economy o go e nance. Thei in e p e a ions, ideas,
and he schola s, who de ended hem o e he pas wo
cen u ies, we e p esen ed in Table3.
Name o he heo em
and i s p oponen s In e p e a ion o he heo em Main idea o he heo em
The Fi s Theo em
o WE
L.Wal as, K.Menge ,
F. onHayek, W.S.Je ons
In a compe i i e economy, he alloca ion o
esou ces h ough ma ke mechanisms leads o an
e icien equilib ium, whe e no pa y can imp o e
hei posi ion wi hou making o he s wo se o
Ma ke s lead o a social op imum, and
he e o e, go e nmen in e en ion is
unnecessa y. The go e nmen should only
implemen minimal policies o p o ec
indi iduals and hei p ope y, ensu e na ional
secu i y, and p o ide a limi ed numbe o
public goods, such as oads
The Second Theo em
o WE
A.Pigou, L.Wal as,
V.Pa e o, E.Ba one,
O.Lange, A.Be gson,
P.Samuelson, J.S igli z,
B.G eenwald
An inc ease in wel a e om he e icien alloca ion
o esou ces is g ea e han he inc ease in wel a e
esul ing solely om an inc ease in he o al
quan i y o esou ces. In o he wo ds, i inequali y
in esou ce dis ibu ion is educed, his has a mo e
posi i e impac on wel a e han a simple inc ease in
o al esou ces wi hou edis ibu ion
Acco ding o his heo em, unde ideal
compe i i e condi ions and a ional alloca ion
o all esou ces, i is impossible o inc ease
one indi idual’s wel a e wi hou educing
ano he ’s. The heo em highligh s he
limi a ions o edis ibu ing esou ces and
income wi hin socie y
Figu e 1. CAGR (Compound Annual G ow h Ra e) o he global E&M ma ke o 2024-2028, %
Sou ce: Global en e ainmen & media ou look 2024-2028: Hong Kong summa y (2024)
Table 3. The essence and gene al cha ac e is ics o he Fi s and Second Theo ems o WE
Sou ce: based on A. Pigou (1932), E.C amp on(2007), A.A akane al.(2023), Y.-K.Ng(2023)
The WE had a angible impac on indi idual con-
sume decisions ega ding he choice o o m, con en ,
and li es yle. In pa icula , his applied o he decision
whe he o pu chase a home on c edi o o en , whe h-
e o li e in a p es igious u ban a ea o o en a home
ou side he ci y in a ela i ely unpollu ed en i onmen .
This economic amewo k also in luenced housing p e -
e ences, including in e io design s yle – o example,
lo o P o ence; mode n minimalism o classic; high-
ech, mode n, Scandina ian, eco-eclec ic, a deco, o
boho. The WE a ec ed consume beha iou , shaped by
income le el, inancial capaci y, and pe sonal alues p i-
o i ised a a speci ic s age o li e. In con as , he EE was
p ojec ed o each 17 illion USD by 2030. The p og es-
si e de elopmen o his economy has been enabled
by i ual eali y, 3D p in ing, and ou ism. The EE goes
beyond adi ional concep s o consump ion, o e ing
indi iduals imme si e and memo able expe iences ha
ede ine he alue o p oduc s and se ices (D zenieke
al., 2024). S udying he expe ience economy in ol ed
analysing he comme cialisa ion o memo able expe i-
ences and he emo ional engagemen hey gene a e. AI-
based cha bo s inc easingly o e pe sonalised se ices,
while 3D p in ing was expanding oppo uni ies o p od-
uc cus omisa ion. As a esul , people seek expe iences,
no me ely consump ion (D zenieke al.,2024). The EE
deli e s p oduc s and se ices wi hin he en e ainmen
and media (E&M) sec o . The p ojec ed dis ibu ion be-
ween i ual and eal spaces ac oss a ious segmen s
o he pe iod 2024-2028 was p esen ed in Figu e1.
-0.68 % -1.13%
6.32%
7.43%
1.86%
9.46%
8.01%
3.92%
2.32%2.47%Cinema
OTT ideo
Business- o-business
In e ne ad e ising
Video games and espo s
Ou doo ad e ising
Music, adio and podcas
In e ne access
TV ad e ising
Newspape s, consume magazines and books
K aus & K aus
Economic Fo um, 2025, Vol. 15, No. 2
13
I was wo h no ing ha in 2023, he E&M indus-
y egained i s equilib ium, wi h o al global e enue
inc easing by 5% o 2.8 illion USD. By 2028, he E&M
sec o was o ecas o g ow by app oxima ely 3.9%,
eaching 3.4 illion USD (Global en e ainmen & me-
dia ou look 2024-2028…,2024). The success ul de el-
opmen o he EE has been closely linked o he exa-
by e economy h ough inno a i e digi al oppo uni ies
ha mani es in he i ual dimension o socie y. I was
c ucial ha membe s o socie y possess digi al skills
and compe encies o e ec i ely engage wi h inno a i e
ools wi hin he i ual eali y amewo k o he expe-
ience economy (D zenieke al.,2024). The ac ual and
o ecas alues o E&M e enue om digi al p oduc s
be ween 2018 and 2027 we e p esen ed in Figu e2.
F om he igu e, i was e iden ha E&M e enue om
digi al se ices and p oduc s was p ojec ed o con inue
g owing un il 2027.
Figu e 2. Ac ual and o ecas alue o E&M e enue om digi al p oduc s and se ices, 2018-2027
Sou ce: based on R. Maka chuk (2024)
1806 1889 1966
20001718
18001625
1442 1531
16001276
14001068 1178 Digi al
1200
1000Non-digi al
800
600858 868
400717 762 792 802 810 811 812 812
200
0
2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Yea s
o ecas o ecas o ecas
Global E&M e enue
(billion o USD)
Social inno a ions and access o speci ic bene i s
play a key ole in enhancing well-being and he capac-
i y o ha e posi i e expe iences. Schola O.O.Naba o-
a(2011) a gued ha social inno a ions should be un-
de s ood as inno a ions “ ha b eak adi ion and open
he way o he new, and new ideas ha ebuild socie y,
and p ojec ac i i ies o managemen en i ies ha c e-
a e new goals and s uc u es; hey o m an inno a i e
en i onmen ha p omo es echnological inno a ions,
ensu es hei di usion, inc eases he e iciency o use,
educes inno a ion cos s and nega i e side e ec s”, ul i-
ma ely con ibu ing o he imp o emen o socie al wel-
a e. V.Che iako a & T.Che iako a(2024) obse ed
ha , amid geopoli ical ensions, he global economy was
expe iencing ising in la ion, slowe economic g ow h,
and signi ican declines in public wel a e.
The academic pe spec i e o V.M.Heye s(2020) was
also no ewo hy. The schola con ended ha om he
pe spec i e o he s a e– pa icula ly wi hin he ame-
wo k o he wel a e s a e– social inno a ions we e de-
eloped p ima ily o add ess majo socie al challenges
such as po e y and inequali y. Unde ma ial law, he
accessibili y o basic se ices o disad an aged g oups–
including people wi h disabili ies, and wa e e ans –
and he p omo ion o inclusi e socie al de elopmen
and o e all wel a e in Uk aine had become a p essing
issue. Figu e3 illus a ed he componen s o inclusi e
de elopmen in he na ional economy, which aim o en-
hance he well-being o he popula ion.
The accessibili y dimension in business should be
cha ac e ised by an indi idual app oach, con ac less
se ices, ec ea ional a eas, con enience, and sa e y
wi hin he business en i onmen (Fig.3). As a esul o
mili a y ope a ions on he e i o y o Uk aine, a signi -
ican numbe o people wi h physical and men al disa-
bili ies has eme ged. I was encou aging ha he go -
e nmen suppo ed each membe o socie y h ough
a ious o ms o assis ance, including inancial aid and
men al heal h suppo . P o iding app op ia e li ing
condi ions o indi iduals wi h di e en ypes o disabil-
i ies emains he esponsibili y o go e nmen au ho -
i ies. The educa ional componen equi ed s eng h-
ening o enable indi iduals o “ ind hemsel es”, adap
o li e, and achie e economic sel su iciency wi hou
elying on ex e nal assis ance. V.M.Heye s(2020) ob-
se ed ha , based on social quali y policy, he e exis s
an oppo uni y o add ess he con adic ions o he so-
called new eali y, in which indi iduals ha e dec easing
chances o secu ing employmen ha would a leas
sus ain hei cu en s anda d o li ing. Consequen -
ly, dispa i ies in indi iduals’ quali y o li e con inue o
deepen. People wi h disabili ies should be able o li e
in com o and digni y in hei own coun y. Fo hese
easons, he au ho i ies should es ablish an inclusi e
in as uc u e o inno a i e and digi al socio-econom-
ic de elopmen in he new o ma o he WE and he
EE. The c ea ion o ba ie ee spaces should go hand
in hand wi h he es ablishmen o social and psycho-
logical ehabili a ion hubs. En e ainmen , na u e, and
con enien in as uc u e c ea e he necessa y condi-
ions o es o ing physical s eng h, enhancing men al
heal h, and imp o ing o e all wel a e, which, in u n,
e lec he inclusi e aspec o he de elopmen o he
WE and he EE (Fig.4).
De elopmen o he wel a e economy...
Economic Fo um, 2025, Vol. 15, No. 2
14
Ba ie - ee en i onmen s o business
and en ep eneu ship ac oss all economic sec o s
Inclusi e playg ounds designed o sa e
and com o able play and unimpeded mo emen
Adap i e spaces, co ages wi h amps, a ailable pa king
spaces, and ec ea ional a eas
Ba ie - ee access o mili a y hospi als and clinics,
ensu ing con enience du ing ehabili a ion
Accessibili y o all se ices on he Diia po al o people wi h
disabili ies
Design o pedes ian zones, anspo s ops, and ou es
sui able o people wi h disabili ies; ins alla ion o ba ie - ee
a ic ligh sys ems; na iga ion signage; ac ile pa emen
ma kings in public spaces o p omo e com o and sa e y
De elopmen o in e ac i e maps o each egion and ci y wi h
in o ma ion on a ious acili ies, including an assigned
accessibili y index indica ing inclusi i y and ba ie - ee access Inno a ions equi ed o implemen a ion: sound beacons a
en ance doo s, backligh ing, digi al assis an -consul an s,
adap i e u ni u e, mnemonics guides, absence o h esholds,
wide doo ways, accessible oile s, and ac ile loo iles
Ne wo king oppo uni ies and online wo kshops o
expe ience exchange
Inclusi e ec ea ional cen es in u ban a eas
Inclusi i y, accessibili y, and inno a ion as essen ial componen s o he de elopmen o
he WE and EE o people wi h disabili ies
Figu e 3. Cha ac e is ic componen s o inclusi e de elopmen
o he na ional economy aimed a imp o ing he popula ion wel a e
Sou ce: de eloped by he au ho s
Figu e 4. The ela ionship be ween WE and EE in he con ex o inclusi e de elopmen
Sou ce: de eloped by he au ho s
An impo an aspec o he de elopmen o bo h
economies was he p oduc ion o new social inno a-
ions, a well- unc ioning ecosys em o digi al en ep e-
neu ship, and go e nmen suppo o p i a e business-
es in esea ch and de elopmen . Ins i u ional suppo
was essen ial o he WE. The heal h sec o had a sig-
ni ican in luence on he o ma ion o he EE, as i con-
ce ned he mo al and men al well-being o he na ion
and he capaci y o he wo k o ce o e u n o p oduc-
i e ac i i y a e es (Fig. 4).
O e he nex en yea s, he de elopmen o he WE
and he EE will depend hea ily on mobile echnologies,
he le el o economic in ellec ualisa ion, he p oduc ion
o new eco-inno a ions and b eak h ough echnologies
o deli e high-quali y goods and se ices, he employ-
men a e, and he le el o unemploymen . The s and-
a d o heal hca e will also played a c i ical ole in bo h
wel a e and he abili y o alloca e disposable income o
en e ainmen . Shi ing he ocus om eac i e ea -
men o ongoing p e en i e ca e will enhance wel a e
and, in u n, posi i ely in luence indi idual well-being.
The e was e idence ha he la es gene a ion o in el-
ligen medicines, e-medical eco ds, and i ual eali y
hospi als was ha ing a signi ican impac on bo h he
Wel a e economy
Inclusi e de elopmen , ba ie - ee,
accessible in as uc u e
Expe ience economy
Ca ing o physical heal h (beau y, die , fi ness), excellen
wel a e and men al pe sonal de elopmen
Psychologically esilien and spi i ually ulfilled
indi iduals; excellen wel a e and ac i e li es yle
A wide ange o goods Accessible educa ion and heal hca e
P ospe i y, luck, happiness,
success ul social s a us Economic p o ec ion and secu i y
The abili y o a el o
emo e places, bo h
physically and i ually
Amusemen pa ks, wa e pa ks,
museums, shopping cen es,
exhibi ions, hea es, cinemas
Consump ion o
exo ic culina y dishes
Pe sonalised
banking
se ices
A endance a
spec a o spo s e en s
F om 4D cinema
o 3D gaming headse s
3D p in ing o wa d obe i ems Pa icipa ion in ex eme
auc ions
Cus omisa ion and pe sonalisa ion,
indi idual app oach o he clien , and
exclusi i y o goods and se ices
Use o applica ions, se ices,
and digi al p oduc s
Emphasis on emo ional
and senso y expe iences
K aus & K aus
Economic Fo um, 2025, Vol. 15, No. 2
15
o e all le el o wel a e and he popula ion’s in e es in
en e ainmen .
Conclusions
Social inno a ions, digi al echnologies, inclusi eness,
and accessibili y can signi ican ly in luence he s uc-
u e o consump ion in he WE and he EE. B eak-
h ough inno a ions and eco-inno a ions ha e im-
p o ed he le el o wel a e in he coun y and helped
shape i s ci cula de elopmen ajec o y. In o de o
he economy o acqui e cha ac e is ics o inclusi e-
ness, i was essen ial o adop a pa ne ship-based
app oach in in e ac ions be ween he s a e, business,
and socie y. Social inno a ions should be applied lo-
cally, bu scaled e ec i ely o suppo he c ea ion o
high-quali y digi al in as uc u e.
The de elopmen o he WE and he EE had been
d i en by an e ec i e combina ion o highquali y new
p oduc s, digi al echnologies, business model digi isa-
ion, and he c ea ion o hyb id i ual- eal ecosys ems
o business and e e yday li e. Social inno a ions should
ocus on p omo ing ba ie - ee de elopmen , synch o-
nisa ion h ough ne wo k ime p o ocols, economic
g ow h, en i onmen al sus ainabili y, digi alisa ion, and
inno a ion. People we e inc easingly willing o pay mo e
o emo ions and expe iences and less inclined o pay
o ma e ial goods. As echnologies ha e inc eased ex-
ponen ially, i was logical ha hey ha e became mo e
a o dable and, he e o e, mo e widely accessible, ena-
bling g ea e pe sonalisa ion o p oduc s and se ices.
The g owing desi e o expe ience i id imp essions had
mo i a ed people o engage mo e ac i ely wi h se ices
and digi al p oduc s.
Fu he scien i ic esea ch should ocus on iden i y-
ing ways o use limi ed esou ces mo e a ionally in e -
o s o enhance popula ion wel a e. I is wo hwhile o
conduc an in-dep h s udy o he po en ial applica ions
o exis ing digi al capabili ies o de eloping a na ionally
ailo ed expe ience economy ha aligns wi h he pop-
ula ion’s men ali y, spi i ual alues, mo al ou look, and
physical condi ion.
Acknowledgemen s
None.
Funding
None.
Con lic o In e es
None.
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