New research from AXA revealed that Hong Kong's Gen Z demographic, aged 18 to 26, faces lower overall mind health, with only one in 10 respondents reporting flourishing mental well-being compared to one in five across all regions.
AXA Hong Kong and Macau has unveiled the second phase of its annual AXA Study of Mind Health and Wellbeing 2023, which offers insights into the state of mind health on a global scale. The study found that 67.2% of Gen Z respondents experienced moderate to extreme stress levels over the past year, which is 14% higher than the overall respondents' rate of 53.1%.
Among the contributing factors to Gen Z's poorer mental health, 64% of respondents pointed to technology addiction and an obsession with social media as exacerbating issues.
Notably, among Gen Z respondents affected by social media and technology addiction, 71% reported feeling lonely, and 80% struggled with negative body image issues. In contrast, only 5% considered themselves flourishing, which is half of the overall percentage for the age group.
These addiction-related problems have also spilled into the workplace, amplified by the prevalence of remote work in the post-pandemic world. Of the employed Gen Z respondents, 44% found it challenging to separate their work from their personal life, while 40% felt distressed due to the hours expected of them.
The study also highlights that financial prosperity is a top priority for Hong Kong's younger generation. When asked about their “big wish,” 38% of Gen Z respondents aspired to “become rich,” while only 18% prioritized achieving perfect physical health. However, 44% of Gen Z individuals reported significant stress related to their current financial situation, and only 30% felt secure about their financial future.
“The findings of the AXA Mind Health Study underscore the need to enhance the overall wellbeing of Gen Z individuals in Hong Kong. While this group is more vulnerable to stress and can experience negative emotions in a tech-saturated world, there are steps that young people can take to improve their mind health, including setting technology boundaries, improving time management, creating a healthy work-life balance, as well as spending quality time with families and friends,” said Andrea Wong, AXA HK and Macau chief marketing and customer officer.
“Furthermore, as an advocate for holistic wellness, AXA was one of the first employers to introduce a series of employee wellness programmes, including mental health care support, hybrid work arrangements, skill and job matching, and skill development support, all of which enables employees to strike a better work-life balance and have a more positive outlook in the workplace,” Wong said.
Elsewhere in the company, AXA also recently unveiled its half year financials, noting increases in its gross written premiums and other revenues.
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