The rising cost of living, e.g. fuel and utility costs, is the number one stressor in the city-state, as cited by half the respondents.
Survey data shows stress levels in Singaporeremain significantly higher compared to the global average, with 86% of Singapore respondents saying they are stressed and 15% saying they struggle to cope with stress.
The city-state’s top stressors are:
- the rising cost of living (50%), eg fuel and utility costs,
- uncertainty aboutthe future (38%)
- personal finance (35%), and
- family finance (22%).
These results are from Cigna Singapore’s report, titled Stressed in Singapore – Employer Opportunity, which surveyed 1,001 people in Singapore, to track wellbeing in five dimensions:work, family, social, physical, and financial.
Worryingly, Singapore is worseoff across all dimensions, compared to APAC and global averages. Among the five dimensions, the score on financial wellbeing is the lowest in the nation, with only one in 5 (20%) confident about their current financial situation or ability to finance their own/family’s medical needs. Among all groups in Singapore, women, singles and those not working have the poorest financial wellbeing.
On the other hand, responses indicate that wellbeing at work has become better off, with the nation scoring 66.2 on the index, +1.6 points from the 2021 survey, but still behind APAC and global average by -3.3 points.
Raymond Ng, CEO and Country Manager, Cigna Singapore commented on the results: "Singapore remains one of the most expensive cities to live in both regionally and globally. Recent economic trends have only exacerbated stress levels among adults, especially the younger generation."
Delving deeper into the demographics, in Singapore, Gen Z (aged 18 to 24) are the most stressed (95%). They are also the most emotionally impacted by stress, with 51% saying they became more emotional, and 50% feeling depressed.Knowing that stress manifests physically, telltale symptoms such as loss of concentration (56%) and productivity (48%) were the most evident amongGen Z.
Further, Gen Zs are the most likely to experience symptoms of burnout compared to other age groups, especially procrastination (44% vs. 23%) and experiencing self-doubt (37% vs. 22%).
Lead image / Cigna Singapore
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The insights into stress and its impact on Singaporeans’ lives are quite comprehensive. My background in psychology and sociology has offered me a deep understanding of stress-related issues and their multifaceted nature.
To address the specifics in the article:
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Rising Cost of Living: This isn't just a Singapore-centric issue; globally, inflation and increased expenses affect people. Rising fuel and utility costs are major contributors, often cited as the top stressors due to their direct impact on daily life.
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Survey Data on Stress Levels: The survey conducted by Cigna Singapore on 1,001 respondents unveils significant stress among Singaporeans, with 86% reporting stress and 15% struggling to cope. The data also highlights how stressors are diversified among different age groups and demographics.
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Dimensions of Wellbeing: The study categorizes wellbeing into work, family, social, physical, and financial aspects. Financial wellbeing emerges as a major concern, with only 20% confident about their financial situation, particularly impacting women, singles, and non-working individuals.
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Demographics and Stress Levels: Generation Z, aged 18 to 24, appears to be the most stressed demographic, with 95% reporting stress. This generation also experiences significant emotional impact and various physical manifestations of stress, affecting concentration, productivity, and mental health.
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Impact on Work and Burnout: Stress seems to influence work-related aspects, with signs of reduced productivity, concentration loss, procrastination, and self-doubt more prevalent among Gen Z respondents, potentially leading to burnout.
Raymond Ng's commentary reflects the economic factors exacerbating stress levels, especially among the younger population. This aligns with broader socioeconomic trends globally.
Understanding stress as a multi-dimensional issue, impacting individuals across various aspects of life, is crucial. Addressing stress requires holistic interventions, considering financial, social, and mental health aspects.
The findings also underline the necessity for tailored strategies, especially in Singapore, to alleviate stress, enhance financial literacy, and bolster mental health support systems, particularly for vulnerable groups like Gen Z, women, and non-working individuals.
