The moderating effect of place attachment on the relationship between economic status and well-being among the older adults in Japan

•Our objective in this study was to investigate the moderating effect of place attachment on the relationship between economic status and IKIGAI in the older adults population.•Lower economic status significantly decreased IKIGAI.•Interaction effect of place attachment on the association between economic status and IKIGAI was observed.•Improving place attachment was beneficial in alleviating the impact of low economic status on IKIGAI for the older adults population. IKIGAI is culturally defined as a subjective evaluation of well-being in Japan and is believed to be an important factor in achieving a better life. This study determined the association between economic status and well-being using IKIGAI and the moderating effect of place attachment on their association among 499 older adults people over 65 years of age in Japan. The result of hierarchical multiple regression analysis revealed that lower economic status significantly decreased well-being. We also observed a significant interactive effect of place attachment on the association between economic status and well-being (β = 0.085, p = 0.041). In other words, improving place attachment was beneficial in alleviating the impact of lower economic status on well-being for the older adults. As the aged population increases across the globe, the way in which societies can counteract the adverse impact of economic status through place attachment could be highly beneficial.