People here have less, not by choice, but because this is a 3rd world country that's barely industrialized and mostly agricultural. Most things are imported and expensive, I can't afford a car and it ain't easy to go around on foot, there's no real public transportation. If I'm going to star a business and need some kind of machinery or product, I have to either get it here overpriced because of inflation, or get it form the states or Europe. That doesn't mean people don't wanna live like 1st world citizens, with commodities and comfort, at least here in the cities. I mean, we have bills and shit too, and to some extent, to some people, the more bills the better. Other kind of "possessions" are also very sought after here, like academic degrees. I know this cause my generation was expected to go and get a professional degree, like our fathers did, but unlike our grandparents. In my family, I'm like the second person with a professional degree, and they are really pushing my siblings to get theirs. The families of the people I met in college had the same interest. And it's fucking expensive to get it.
On the other hand, some people in the countryside have no idea about internet and modern technology, and don't seem to need it, as they reject most of western culture's elements. Interestingly enough, this kind of communities have different concepts on happiness, wealth and time, but I wouldn't know about a culture being "happier" than other.