Exploring the Determinants of Subjective Well-Being in Older Adults: A Cross-National Analysis of Social, Political, Economic, and Demographic Factors

Abstract Subjective well-being has gained increasing attention in both academic research and policymaking, leading to a growing body of literature examining its determinants. Yet, factors affecting the subjective well-being of older adults have remained underexplored. This study investigates the impact of social, political, economic, and demographic factors on older adults' life satisfaction using the seventh wave of the World Values Survey (2017–2022) which includes individuals’ responses from 58 countries across the Americas, Europe, Asia, and Africa. A global perspective is crucial for understanding how varying economic performances, political conditions, and social policies shape the well-being of older adults. The geographical diversity of the sample enables a global comparison, capturing a wide range of social, political, and cultural contexts. By employing multilevel mixed-effects regression models, we account for both within-country and between-country variations, integrating both individual-level and country-level data. The findings indicate that social capital, political governance, and economic performance significantly affect life satisfaction. Interpersonal trust, institutional confidence, social group membership, quality governance, and democracy are positively associated with subjective well-being whereas corruption and inflation are negatively associated. Notably, political governance is found to be the leading factor affecting the life satisfaction of adults aged 50-64, while it is social capital for those aged 65 and above. Social and political factors have played an increasingly influential role during the pandemic. These findings emphasize the importance of developing tailored interventions that consider regional, temporal, and age-related differences to effectively meet the diverse needs of older adults.