A new report which surveyed 5,000 residents across 13 markets in Asia reveals that seven in 10 respondents (68%) have changed the way they define success in life in recent years. Many cited (43%) the pandemic as a major factor in re-evaluating their priorities.
The report Fulfilling Futures - Re-thinking well-being in Asia: How outlooks on life are changing, a report released by Prudential and written by the Economist Impact looks at how people's aspirations and their concepts of success may be changing amid longer life spans and ever-evolving challenges to health and wellbeing.
Five years ago, professional success would have been their chief aspiration. That has now given way to the priority of spending more time with family which surpasses financial, career or even personal health aspirations as determinants of life satisfaction. Maintaining emotional and mental health have risen on people's priority list as well. It has risen from near the bottom of their priority list five years ago to rank second in importance today.
The report explores how people in Asia, at a time of heightened uncertainty, assess different aspects of their well-being, including their physical and mental health, personal finances, social lives, and interaction with their communities. It also explores their use of digital technology to pursue their aims in these areas.
Prudential MD strategic business group Lilian Ng said, "It is clear from this research that what matters to Asians has changed in the past few years. The COVID-19 pandemic has had the effect of making people stop and think about their priorities in life.
"As a business focused on helping our customers and communities get the most out of life through making healthcare affordable and accessible and by promoting financial inclusion, understanding what impacts and influences people's wellbeing will enable us to better support them in leading longer and more fulfilling lives."
One-third of Asian respondents say they regularly make contributions to a retirement fund as a means of improving their financial health. It is also clear from the survey responses that many people are looking to diversify their sources of income.
Prudential provides life and health insurance and asset management in 24 markets across Asia and Africa.