Chinese business leaders are world's most stressed

Indian and Argentinean business owners work longest hours in the world.

Mainland Chinese business leaders are the most stressed in the world, with 84% reporting an increase in stress levels compared to last year, according to the Grant Thornton International Business Report (IBR). Mainland China is followed by Taiwan (82%), and the developing economies of India (79%) and Russia (76%) in the stress league table. The report which covers the opinions of 7,200 privately owned businesses in 32 countries, found that 56% of business leaders worldwide feel their stress levels have increased in the last year.

In comparison, business leaders in Europe are the least stressed with just 27% of Swedish business owners reporting an increase in stress levels, followed by Ireland (35%) and the UK, the Netherlands and France (all 37%). European Union (EU) and North American Free Trade Agreement (NAFTA) regions show an average of 43% claiming increases in stress, compared to 73% of respondents in East Asia.

Last year all countries reported a rise in stress but this year two thirds of respondents reported a lower increase in stress than the previous year. The greatest reduction in stress level increases came in the Philippines with 12% fewer respondents reporting a rise in stress levels followed by Ireland (11%) and Japan and Mexico (both 10%).

Working hours
The IBR research shows that business leaders around the world work on average 53 hours a week with Europeans working the fewest (50) hours, followed by respondents in East Asia (53 hours) and NAFTA (54 hours). Business leaders in emerging economies tend to work the longest hours with India and Argentina at the top of the league table, both at 57 hours a week, followed by Armenia, Australia and Botswana (all 56 hours a week).

Italian business leaders work the least number of hours (47) a week in the world, followed predominately by European countries with Sweden, the Netherlands, Ireland and Spain all on 48 hour average working weeks.

Commenting on the findings, Alex MacBeath, global leader of privately held business services for Grant Thornton International, said:

"Stress levels are continuing to rise around the world, with particular concern for business leaders in the emerging economies of mainland China, India and Russia.

"The stress levels appear to be a reflection of the pace of growth in these economies and of the longer hours worked by business leaders in these countries as they strive to take advantage of domestic and global economic expansion. However the Philippines seem to be setting the example by recording the greatest reduction in stress increases yet still outperforming most countries in recent IBR topics such as business optimism, women in senior management and the management of energy and environmental issues.

"The shorter working week in Europe is reflected in the lowest rise in stress levels worldwide suggesting that European businesses are perhaps leading the world in managing work life balance and quality of life.

"Globalisation and increasing technological advances have increased the pressure on business leaders to 'always be contactable' and this appears to be having an increasing strain on their lives. The challenge for business leaders is how they can improve modern working practices to allow time to 'switch off' from the strains of increasingly demanding business lives - while remaining competitive."

Ends

Notes to editors
Grant Thornton International started a major annual survey of the attitudes and expectations of small and medium-sized businesses in 1992 called the European Business Survey (EBS). In 2003 the research project was widened to an international perspective covering medium-sized businesses and renamed the International Business Owners Survey (IBOS).

In 2007, the survey's name was changed from IBOS to the International Business Report (IBR). The IBR survey draws upon 15 years of trend data for original EBS participants and 5 years for original IBOS countries. 15 year trend data is available for: France, Germany, Greece, Ireland, Italy, the Netherlands, Poland, Spain, Sweden, Turkey and the UK, while 5 year trend data is available for Australia, Canada, Hong Kong, India, Japan, Mexico, Singapore, South Africa and the US.

Grant Thornton International will donate US$5 to UNICEF for every completed IBR questionnaire. In 2007 this will result in a donation of over US$35,000.

The research was conducted by Experian Business Strategies Limited and Harris Interactive. All figures were correct at time of going to press. To find out more about IBR and to obtain details of IBR reports and results please visit www.internationalbusinessreport.com.

About Grant Thornton International
Grant Thornton International is one of the world's leading organisations of independently owned and managed accounting and consulting firms providing assurance, tax and specialist business advice to privately held businesses and public interest entities. The strength of each local firm is reflected in the quality of the international organisation. All Grant Thornton International member firms share a commitment to providing the same high quality service to their clients wherever they choose to do business.

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For further information please contact:

Neil Bird
IBR project manager
Grant Thornton International
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