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Given the importance of relationships to happiness, well-being, and longevity, a new report offers insight into relationships in Asia; and how we can make them stronger, better and more rewarding.
Cambodia ranks first out of nine markets in Asia, with a score of 86/100, in the second edition of the Prudential Relationship Index (PRI), indicating that a person’s primary relationships deliver 86% of what they want from that relationship.
Malaysia, Hong Kong, and Singapore rank sixth, seventh, and eighth respectively – beaten by Vietnam, Philippines, Indonesia, and Thailand rounding up the top five slots. Overall, across the nine markets, the average relationship score for friends is 42/100 and colleagues is 23/100.
Measuring views from 4,600 respondents, the report measured various aspects of relationships that can be mapped on factors building better working environments, shared below.
- Saving enough for future retirement (50%) is the highest-ranking financial goal in most markets across Asia, while travelling with family (47%) comes in second.
- Malaysia (61%) has the largest regional proportion of people saying that saving for retirement is a key financial goal, followed closely by Vietnam (60%).
- For Cambodia and the Philippines, the top-ranking financial goals differ – with 82% of Cambodians prioritising a flat or house, while 59% of Filipinos hoping to start a new business.
- Supporting the children’s education is another top goal, particularly in Cambodia (82%), Indonesia (60%) and Vietnam (59%).
- Despite their general concern about the future, on average, only 23% of people in Asia say saving for emergency needs is a high-ranking financial goal.
Will I have enough $$$ for retirement?
- Saving for retirement is a top financial goal for the majority of people in Asia, with 58% admitting that they worry about saving enough money for their future retirement.
- 46% of people in the region are not confident about saving enough money to support themselves until the age of 80.
- Filipinos worry the most across all markets – 75% expressed concerns about retirement funds.
- People in China are the least worried in the region regarding their future retirement. Only 22% say they are not confident about having enough money to live until the age of 80.
- In Thailand, 48% of people expect the government to financially support them in their old age – the highest regional proportion.
Tech-free mealtimes, please
- 77% of people in Asia agree that mealtimes would be better if everyone turned off their phones.
- Half of people in the region believe that time spent on the phone has a negative impact on their relationships with family.
- The Philippines (90%), Malaysia (85%) and Singapore (85%) have the highest proportions of people saying that if phones were turned off, mealtimes would improve.
- More than two-thirds (68%) of people also believe that some families spend too much time on the phone rather than talking to each other.
Free time versus money
- Overall, in developed markets people are more likely to opt for shorter working hours for more free time, compared to emerging markets, where longer hours are preferred in order to earn more.
- People in Singapore (55%), China (48%) and Hong Kong (45%) are more likely to choose shorter working hours for more free time, even though this means they earn less money.
- Emerging markets such as Cambodia (95%), Vietnam (85%) and Thailand (80%) prefer working longer hours for more money.
- In general, however, 65% of people across all markets surveyed in 2017 say they would work longer hours for more money.
Images / Prudential Relationship Index