SINGAPORE – In observation of World Cities Day, MasterCard has released the first Asia-Pacific Cities Well-Being Index.
Almost 9,000 people across 33 cities in 17 markets in Asia Pacific were surveyed for the Index, which measures overall levels of well-being by examining people’s attitudes towards the following components: Work and Finances, Safety from Threats, Satisfaction and Personal Well-Being.
The study has revealed that people in the region’s emerging market cities are more positive about their well-being than people living in developed cities. India’s capital, Bangalore, with a population of over 4 million emerged as the most positive city. Following Bangalore is Jakarta, Indonesia. Another Indian city, Delhi, came out as the third most positive.
Meanwhile, Dhaka, capital and largest city of Bangladesh and the country’s trade and culture hub, appears to be the least positive city. Next to Dhaka, is Tokyo, the world’s most populous metropolis with a population of more than 13 million. Tailing behind Tokyo is Busan, a city from one of the four Asian Tigers.
Based on the survey, people from developed market cities–Taipei, Busan, Sydney, Melbourne, Brisbane to name a few–feel more stressed and are less optimistic about their “Personal Well-being” and “Work and Finances”. However, they may be less optimistic about their outlook for their regular income and employment, they still appear to have greater control in keeping up with the payment of bills and saving up for big purchases.
On the other hand, people from both the developed and emerging market cities have the same concern towards “Safety from Threats” including financial and cyber crimes.
“The assumption has often been that economic development leads to less financial, family and work stress. However, it is clear from MasterCard’s first Asia Pacific Cities Well-Being Index that people in developed markets are feeling under significant pressure both at work and at home,” said Georgette Tan, APAC Communications Group Head for MasterCard.
“As economic growth slows in developed markets it is likely that this has had an impact on levels of optimism when it comes to job prospects. If you are not happy in your current workplace and there are less job options available it is likely you will feel more stressed. Work and financial stress are often key drivers of family stress, so these scores are likely to be aligned. Yet, it must be noted that overall people in both emerging and developed market cities remain positive about their current well-being. Opportunities and quality of life must continue to improve in cities across Asia Pacific if they are to thrive and grow.”
Photo credits: “Bangalore city market”. Licensed under CC BY-SA 2.5 via Wikimedia Commons
