AXA Hong Kong and Macau recently released the third phase of its annual AXA Study of Mind Health and Wellbeing 2023, which assessed the state of mind health* across the globe.
The Study stated that 64% aged 40 and below are experiencing moderate to extreme stress over the last year
Also according to the Study, only 19% of female respondents in Hong Kong are flourishing, lower than the 23% of men surveyed.
Notably, younger female respondents aged 40 and below have an even lower percentage, as 12% believe they are flourishing compared to 24% of those aged above 40.
These findings suggest that mental stress is more prevalent among younger women, with 64% of younger respondents experiencing moderate to extreme stress over the last year, compared to 46% of overall female respondents.
Nearly two-thirds of women agreed all genders are treated equally in the workplace but the gender equality gap still exists in the workplace.
The Study sheds light on the mind health and all-round wellbeing of women in Hong Kong, uncovering important insights into the challenges they face both professionally and personally.
According to the Study, nearly two-thirds (61%) of female respondents in Hong Kong agreed that all genders are treated equally in their workplace.
Despite that, the Study revealed a gap in gender equality in the workplace, nearly half of female respondents in Hong Kong reported that their abilities have been doubted or undervalued because of their gender, while 25% said they have experienced unwanted gender-related comments.
Female executives suffer from significant financial stress despite higher income
Concerns about financial security and wellbeing are also highlighted in the Study. 36% of female respondents in Hong Kong reported that their current financial situation causes them significant stress.
Despite higher income levels, 42% of female senior executives conveyed significant stress caused by their financial situation, the highest percentage among all the surveyed occupations.
This could be attributed to the added pressure that comes with maintaining higher living standards and coping with societal expectations of success.
Zooming in on their financial future, only one-third (32%) of female respondents in Hong Kong said they feel secure, significantly lower than the 42% of male respondents.
Juggling responsibilities limits regular physical activity
When asked about their one “big wish”, 34% expressed their desire for improving physical health which is a key contributor to mind wellbeing.
However, only 24% of women said they regularly get more than 150 minutes of moderate intensity exercise each week, compared to 32% of male respondents. While underlining the city’s need to promote an active lifestyle, the findings also suggest that time constraints due to multiple roles and responsibilities, including work and caregiving, may limit opportunities for women to engage in regular physical activity.
Andrea Wong, Chief Marketing and Customer Officer, AXA Hong Kong and Macau, remarked, “Women tend to face a unique set of challenges having to balance multiple roles and responsibilities stemming from the workplace and at home. At AXA, we believe that being a woman shouldn’t be a risk and are determined to support them with innovative products and services that better protect women’s health and wellness.”
“We also believe that it is essential to create avenues for women to prioritise their physical health to achieve better mind health. We do so through organising our annual signature events such as AXA Better Me Weekend and Green Power Hike to create a brighter and healthier future not only for just women but the general public as a whole.” She said.
AXA remains steadfast in offering comprehensive wellness solutions that help women in Hong Kong thrive and succeed. From physical health, personal finance, to career development, AXA will continue to provide resources and support that address the specific challenges women face in every aspect of their lives, with the goal of fostering better mind health and overall wellbeing for women in Hong Kong.
* The report uses the term mind health rather than mental health to emphasise the positive objective of the study which is to help break down the stigma still associated with mental illness