Socio-economic development refers to improvements in social well-being, quality of life, and economic progress within a society. It involves enhancing education, healthcare, infrastructure, income levels, employment opportunities, etc.
Related terms
Human Development Index (HDI): HDI measures socio-economic development by considering factors such as life expectancy at birth, education levels, and income per capita.
Millennium Development Goals (MDGs): MDGs were global targets set by the United Nations aiming at reducing poverty rates, improving education access, and addressing other socio-economic issues by 2015.
Sustainable Development Goals (SDGs): SDGs are a new set of global goals established by the United Nations to continue the work of the MDGs, focusing on areas like poverty eradication, climate action, and gender equality.