Introduction Economic and Psychological Well-Being During COVID-19 Pandemic in Albania, A Need for Sustainability

Abstract

This research studies economic and psychological well-being sustainzbility through comparative data from two research studies, which the authors conducted in two different time logs. The research question arises as to whether economic and psychological well-being perceptions through the years are affected by age, gender, and monthly revenues for Albanian adults. Thus, a dataset of 493 individuals was analyzed. Crosstabulation analysis and descriptive data demonstrated that the perceptions related to more economic difficulties were reported in both studies despite the level of monthly revenues. The findings of this research are that females report more optimism in 2023, both related to economic and psychological well-being, but further investigation is needed. Moreover, the young population reports a general decrease in psychological well-being, not considering life enjoyable. Despite monthly revenues, participants’ perception of economic problems is very high, even after the COVID-19 waves. These findings, in line with the SDG’s agenda in Albania, require attention and continuous observation to achieve economic and well-being Sustainability. Theoretical and practical implications of results and recommendations for future research are discussed. Future research should develop research findings theories incorporating the economic environments into relevance to the individuals of families’ financial stress and well-being. Moreover, the effects of the post-pandemic recession on psychological well-being must be investigated further.