The 'goodwill' refers to God's favor towards humanity demonstrated through the gift of Christ.
In Luke 2:14, the phrase 'goodwill toward men' encapsulates the notion of God's benevolent disposition towards humanity, particularly evident in His sending of Christ as a Savior. This goodwill is not based on human merit, but is rooted in God's sovereign choice and grace, extending an invitation of peace to all who would believe. The angel's proclamation reflects the heart of the gospel, showing that through the incarnation and sacrificial work of Christ, God desires to reconcile sinners to Himself. This goodwill reaffirms that God's intentions toward humanity are redemptive, underscoring the joy that accompanies the arrival of the long-anticipated Messiah.
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