/Emil Kalibradov from Unsplash

Financial fitness is a major factor when it comes to the quality of life: Study

Developed markets scored lower than those in emerging markets. 

The overall quality of life index averaged 75 in 2023, whilst developed markets like Singapore and Hong Kong are poised for a lower standing, HSBC reported.

In its latest Quality of Life Report, the index measures three key factors: physical health, mental wellness, and financial fitness.

The report further highlighted the necessary elements that make a good quality of life. Respondents take into consideration: physical health, stable income, quality time with friends/family, mental health, emotional health, travel, spiritual wellness, home ownership, career success, and passive income.

In comparison, the developed markets scored lower than those in the emerging markets. The bottom two were Singapore and Hong Kong at 68, respectively. The UK then followed . with 69 and the US with 70.

For emerging economies, Malaysia had 77 – the lowest in the category. It was followed by China (79), Mexico (79), the United Arab Emirates (80), and India (80).

ALSO READ: APAC leads globally in terms of cashless transactions – Survey

In Asia, Singapore and Hong Kong rated themselves lower in mental wellness, both at 61. Singapore ranked physical wellness next (66) and then financial wellness (80). Hong Kong showed the same results other than physical wellness rated at 65.

  • India scored the following accordingly: financial fitness (85), physical wellness (81), mental wellness (77).
  • China scored the following accordingly: financial fitness (83), physical wellness (80), mental wellness (75).
  • Malaysia scored the following accordingly: financial fitness (82), physical wellness (78), mental wellness (71).

Globally, mental wellness scored the lowest among the three key factors with 70. This was followed by physical wellness (73) and then financial fitness (82).

The report gathered insights from 2,250 high-net-worth individuals worldwide. Each market surveyed 250 individuals in 30 March to 9 April. In terms of age, the sample ranged from 25 years old to 69 years old.

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

HK approves 15 building plans in March 
Four were approved on Hong Kong Island, two in Kowloon, and nine in the New Territories.
75% of HK consumers shop on social media: report
Features such as payment methods, personalisation, and payment security are also crucial for attracting customers.