RI seen as 'most stressful' for expatriates in Asia
RI seen as 'most stressful' for expatriates in Asia
Agence France-Presse, Singapore
Indonesia, South Korea, and Vietnam are the most stressful Asian countries for expatriates to live in, while Japan, Malaysia, the Philippines and Thailand offer the least pressure, a regional poll showed.
The Political and Economic Risk Consultancy (PERC) said its survey of more than 1,000 expatriates in the region in June and July showed anxiety levels were already rising well before the September terror attacks in the U.S.
"One can only presume that stress levels have increased further during the past two and a half months," said the Hong Kong-based firm, which provides advice to companies doing business in the region.
On a scale of one to 10, with 10 representing the most stressful situation, Indonesia scored the worst average grade of 7.33, dislodging last year's most high-pressure country for expatriates, Vietnam, which has improved noticeably.
"That is not really surprising considering that foreigners have been the target of demonstrations this past year, parts of (Indonesia) are experiencing quite violent conditions, corruption and red tape are worse than perhaps in any other Asian country, and many companies are fighting to stay afloat," PERC commented.
Indonesia was followed by South Korea at 6.67 and Vietnam at 6.50. China and India were tied at fourth place with a grade of 6.25.
Next were Taiwan at 6.00, Hong Kong at 5.30 Singapore at 5.00.
"Money does not buy peace of mind. With the exception of Japan, Asia's wealthier economies were ranked in the middle of the pack .. moreover, the biggest deterioration in stress grades compared with one year ago occurred in the most developed economies," PERC observed.
"Since this is where economic growth has slowed the most sharply, there is probably a correlation between stress and sharp breaks in economic growth patterns (as distinct from the absolute level of industrial development)."
On the other end of the scale, Thailand scored 4.73, the Philippines and Malaysia tied for second-best at 4.50, and Japan was seen as the least stressful for expatriates with a score of 4.00.
Japan preserved its 2000 top ranking but suffering a sharp decline in marks. It had scored 2.00 last year.
PERC said that high stress levels did not necessarily mean bad news for business, noting that China and South Korea have drawn more foreign investment than countries with better marks in the survey.
"Compared with what many average Chinese are going through, most foreigners working in China enjoy the good life. Their frustrations have more to do with the bureaucracy, language and cultural barriers, and some relatively minor living inconveniences," it said.
In Hong Kong, expatriates "are not in a particularly good mood these days".
"They are cynical about the quality of political leadership, unhappy with the level of air pollution, and worried about their jobs," PERC said.
In recession-hit Singapore, Hong Kong's economic arch rival, stress levels have "increased considerably" over the past year but it scored better in part because the pace of life "is somewhat less frenetic than in Hong Kong".
"It could also be because there is greater confidence in Singapore in the government's leadership capabilities," it said.