Vietnamese business owners ranked in the world's top most stressed leaders as they have less holidays while taking workload and pressure from their businesses, said a report Wednesday (March 17).
About 72 percent of Vietnamese privately held businesses surveyed in the report conducted by market research and accounting firm Grant Thornton said they suffered stress, stating the third rank in the world league, the same level with their counterparts from Turkey.
It did not mention whether the level increases in Vietnam but said there appeared to be a link between stress level and national gross domestic products.
Grant Thornton's managing partner in Vietnam Ken Atkinson said the top four reasons given for the high level of stress were the economic climate, workload, competitor activities and pressure on cash flow.
"Vietnam has seen significant GDP growth and workload and the tightening of monetary policy has undoubtedly contributed to the stress level," said the firm's corporate finance director Matthew Lourey.
The survey also found a correlation between stress levels and the number of days off taken by an individual in a year. Countries at the top of the stress league are those where business owners, on average, take fewer holidays each year.
Vietnam, for example, is rated third in the stress league and at the bottom of the holiday league, with business owners on average taking just 7 days of holiday during the year, according to the report.
Te report said there were similar results for mainland China and Mexico rated the second.
At the opposite end of the scale, business owners in northern Europe like Netherlands, Sweden, Denmark and Finland appeared at top of the scale for the number of holidays between 22 and 24 days taken each year and at the bottom of the stress league table.
"Here we have business owners themselves providing robust evidence that those able to take more holidays are less stressed than their counterparts in countries where holidays are less frequent," said Atkinson in a statement.
The report covers the opinions of over 7,400 business owners across 36 economies, with mainland China topping the league for the most stressed leaders as 76 percent of its business owners saying their stress levels have increased over the last year
More than half of leaders of privately held businesses globally feel their stress levels have increased over the last year, said the report.