Social Component of Sustainable Development and Quality of Life

Sustainability is the basis for survival on Earth, as well as for the survival of mankind. Sustainability is connecting with growing population. Sustainable development implies the merger of the three components in a single unit. The first one is the economic viability, the second includes social sustainability, while the third is linked to environmental sustainability. The social component of development relates to the quality of life of people their habits and lifestyles. This chapter put emphasis on the social component of sustainability in Serbia that includes quality of life but also the index of human development. The results of PEST analysis of the Eastern Serbia will explain factors that affect the implementation of sustainable development in the Balkan region. With PESTEL analysis applied to the eastern part of Serbia, it can be observed a wider picture of social life in other smaller countries of the Balkans with similar economic and social characteristics such as Montenegro, Bosnia and Herzegovina, Republic of Srpska, Macedonia.