“Serendipity” refers to the occurrence of events by chance in a happy or beneficial way. Essentially, it’s finding something good without looking for it.
The term has an interesting etymology. It was coined by Horace Walpole in 1754, inspired by a Persian fairy tale “The Three Princes of Serendip”. Serendip is an old name for Sri Lanka. In the tale, the princes, through clever deductions, make discoveries by accidents and sagacity. Walpole formed “serendipity” to describe the faculty of making fortunate discoveries by accident.