A color conversion element, comprising: a base substrate in which a first region and a second region are defined; a color conversion layer over the base substrate, in the first region, and comprising color conversion particles configured to convert a wavelength of incident light; and a color light transmitting layer over the base substrate in the second region; a color filter layer between the color conversion layer and the base substrate, on which light emitted from the color conversion layer is incident, and which is configured to block a part of the light; a first capping layer and a second capping layer disposed between the color filter layer and the color conversion layer; a first low refractive layer disposed between the first capping layer and the second capping layer; a third capping layer and a fourth capping layer disposed on the color conversion layer; and a second low refractive layer disposed between the third capping layer and the fourth capping layer; wherein the refractive index of the first and second low refractive layer, respectively, is lower than the refractive index of each of the color conversion layer and the color light transmitting layer; wherein each of the color conversion particles comprises a compound represented by Formula 1: A m B n X l wherein in Formula 1, A is Cs, Rb, or an alloy thereof; B is at least one of Cu, Sb, Ge, Sn, and Bi; m, n, and 1 are each an integer of 1 to 9; and X is at least one of F, Cl, Br, and I, or a mixture thereof, wherein the compound is free of Pb, wherein the first, second, third and fourth capping layers include inorganic insulating material, and wherein the first and second low refractive layers include organic insulating material. a base substrate in which a first region and a second region are defined; a color conversion layer over the base substrate, in the first region, and comprising color conversion particles configured to convert a wavelength of incident light; and a color light transmitting layer over the base substrate in the second region; a color filter layer between the color conversion layer and the base substrate, on which light emitted from the color conversion layer is incident, and which is configured to block a part of the light; a first capping layer and a second capping layer disposed between the color filter layer and the color conversion layer; a first low refractive layer disposed between the first capping layer and the second capping layer; a third capping layer and a fourth capping layer disposed on the color conversion layer; and a second low refractive layer disposed between the third capping layer and the fourth capping layer; wherein the refractive index of the first and second low refractive layer, respectively, is lower than the refractive index of each of the color conversion layer and the color light transmitting layer; wherein each of the color conversion particles comprises a compound represented by Formula 1: A m B n X l wherein in Formula 1, A is Cs, Rb, or an alloy thereof; B is at least one of Cu, Sb, Ge, Sn, and Bi; m, n, and 1 are each an integer of 1 to 9; and X is at least one of F, Cl, Br, and I, or a mixture thereof, wherein the compound is free of Pb, wherein the first, second, third and fourth capping layers include inorganic insulating material, and wherein the first and second low refractive layers include organic insulating material.