Asian biz owners under more stress
Fewer holidays, business travel and fear over job security are among the factors linked to mounting stress.india Updated: Feb 21, 2006 11:30 IST
Business owners in Asia are more stressed than their Western counterparts with the adrenalin flowing the most in Taiwan, China and the Philippines, a study said onTuesday.
Fewer holidays, business travel and fear over job security are among the factors linked to mounting stress, according to the study by business advisory organisation Grant Thornton International.
Eighty-nine percent of the respondents in Taiwan said they felt higher stress than a year ago. China came second with 87 per cent and the Philippines with 76 per cent.
The findings, published in The Business Times, placed Botswana in the fourth spot with 74 percent of those queried reporting increased stress, followed by Singapore with 67 percent and Malaysia with 65 percent.
The global percentage was 57 per cent, compared with 39 per cent in 2005.
Those reporting the biggest increase in stress tended to take the fewest rest days. Business owners in Taiwan took only eight days leave, China 11 days and the Philippines 12 days, far behind the average of 27 days for France and 22 days in the European Union overall.
"It could be argued from this that the Europeans have found one way of managing stress, the more holidays taken, the more limited the stress rise," said the accounting and consultancy firm's report.
"With Europeans having more public holidays than elsewhere, the results may well understate differences between European and other countries," it noted.
The study included more than 7,000 business owners in 30 countries, all of whom reported some rise in stress. Twenty-four percent of respondents in Sweden cited an increase, up from 23 per cent last year.