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Irelands economy has increased rapidly in the early part of 2020, mainly in industries likes financial services, technology and pharmaceuticals. More job opportunites arose which helped with higher living standards for some people.

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In 1988 south Korea held the Olympics which led to a peak GDP growth rate of 11.99%, leading to their wellbeing and happiness increasing

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In US during 1990s their economy had rapid growth due to technology advances and increased productivity. this led to a major drop in unemployment rates (about 4% by 2000) and improved their living standards for many amercians.

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Increase in Living Standards in India Due to Economic Growth

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Increase in Living Standards in India Due to Economic Growth

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Economic growth in India skyrocketed due to globalisation and supply chains beginning in the 90s. This allowed more people to become employed and increased wages bettering their quality of life. This can be exemplified by the change in HDI from 0.434 in 1990 to 0.644 in 2022.

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a fisherman with a net will catch more fish per hour than a fisherman with a pointy stick. This means if there is more money and growth in the economy this will lead to higher productivity to the working class and higher output to the company that are buying these products

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a fisherman with a net will catch more fish per hour than a fisherman with a pointy stick. This means if there is more money and growth in the economy this will lead to higher productivity to the working class and higher output to the company that are buying these products

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China Began to open up and reform its economy in 1978, from then on GDP growth has averaged around 10 percent per Annum. More then 800 million people has been lifted out of poverty, There have been improvements when it comes to access to Health, Education and other services, Despite this the vast majority of Chinese citizens are still considered poor. With a Low standard of living compared to developing countries.

https://www.worldbank.org/en/country/china/overview#1

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India is projected to grow by 8.2% in 2022 which makes it the fastest growing major economy, outperforming global growth of a projected 3.6% in 2022. After a quick economic recovery from COVID-19 India will be able to gain more international markets from trade and will be able to produce more within the economy, creating more jobs and increasing spending within the economy.

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India has seen immense economic growth since the beginning of the 1980's, reaching 5.1% percent. This has allowed India to propel themselves forward , creating a higher standard of living and with the help of globalisation has given them access to new technologies.

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Bangladesh
Average growth 2021-2025: 6.9%

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Bangladeshs economic growth mainly in the textile industry reduced their unemployment, increased the value of their export margins and improved the distribution of income

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India was hit hard by Covid-19 but have since seen an increase in eco growth over the past 6 months. The reason for this is because of the lockdowns ending. This was the result of an increase in spending and consumption by the general population but also the Indian Government. Economic growth increased by 8.4% . India is currently in a deficit

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Australia experienced a huge drop of income and wage averages during the 2009 drop of the GFC. However, the build up before the crash was one of the highest points of average wage levels that Australia had experienced in the last few decades.

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An even and sustained increase in economic growth across the economy increses disposable household incoe, therefore increasing the volume of imports from overseas. This will in turn increase Australia's economic activity in the global marketplace and stronger relationships will be built with key trading partners, reducing Australia's dependence on FDI (Foreign Direct Investment).
eg. The global expansion of Chinese banks into the global market.

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The Evidence that Growth Creates Jobs: A New Look at an Old Relationship – IMF Blog

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The higher the GDP, the  happier the country

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The higher the GDP, the  happier the country

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the richer the country, on average, the higher the level of self-reported happiness. Doubling GDP per person lifts life satisfaction by about 0.7 points.

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Minimum wages and how they relate to life satisfaction within a country 

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Minimum wages and how they relate to life satisfaction within a country 

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Stops going up after minimum wage is 7 or above