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The HSBC Life +Factor Study 2022

The HSBC Life +Factor Study 2022

The HSBC Life +Factor Study 2022 uncovers the link between various aspects of wellbeing. It gained insight into the physical, mental, and financial health habits of people living amidst emerging global trends. 

A total of 6,829 respondents from Singapore, Hong Kong, mainland China, and the UK were surveyed for the study. It includes areas such as happiness and the resilience people have built in adapting to an ever-evolving landscape.

Key insights

The 2022 HSBC Life +Factor Study offers 6 key insights on how physical, financial, and mental health impact our day-to-day lives and future plans.

1. Changes of behaviour in 2022

COVID-19 has changed lives and lead to shifts in people's daily routines. Mental and financial behaviours were altered to adapt to living through a pandemic, coping with increased stress and creating financial buffers.

In Singapore, over half of respondents (52%) still express concern over their financial situation in 2022. Having sufficient retirement fund and medical bills in case of illness are the top 2 concerns on their financial. Their average stress score remains high (61) when respondents were asked about their current stress level.

2. Focus on health and resilience to keep pace with a complex environment

In Singapore, 60% agree (vs. 50% in 2021) that passing on healthy habits is becoming more important than passing on wealth in 2022. Like other markets, this change has also impacted the advice they would give their 15 years younger self:

  • Singapore–improve financial planning 
  • Mainland China–listen to my body more; increase interaction with friends
  • Hong Kong–spend more time with family
  • The UK–have more 'me time'

3. There is a strong connection between different health dimensions and their positive impact on happiness and life satisfaction

Those who are physically, mentally, and financially healthy/ resilient are the most confident in

achieving their goals, happiest, and most satisfied with their quality of life.

4. Strong motivating factors in improving health and resilience

Setting a good example (for children/ dependents/ partner/ friends) was a common thread among all markets, tying back to the result of healthy habits gaining popularity as one's desired legacy.

5. High resilient people are strategic, specific and action-oriented

Based on resilience drivers across the dimensions, those with high resilience levels are not just

strategic, but specific and action-oriented about their physical, mental, and financial wellbeing.

6. Barriers in achieving desired health levels

Though external factors such as time and demands of work/ family life are common challenges across the three dimensions; internally, deficiencies in one dimension can impede progress in another.

For details of the findings, please refer to the +Factor Study Report below.


This research study and its materials are for information only. All services provided by The Hongkong and Shanghai Banking Corporation Limited and issued by HSBC Life (International) Limited (Incorporated in Bermuda with limited liability) (collectively "HSBC") are subject to the prevailing applicable terms and conditions. In case of any discrepancies or inconsistencies between the materials from this study and the applicable terms and conditions, the latter shall apply and prevail. HSBC is not responsible for any loss, damage or other consequences of any kind that you may incur or suffer as a result of, arising from or relating to your use or reliance of the information and materials available from this presentation. The information and materials available from this presentation are not intended to provide advice and do not constitute a solicitation, marketing or recommendation for the purchase of any product, making of any deposit or investment. Such information and materials do not take into account any investment objectives, financial situation or personal circumstances or needs of any particular person. HSBC gives no guarantee, representation or warranty as to the accuracy, timeliness or completeness of such information and materials. Such information and materials are subject to change without notice. Investment involves risks.

Issued by HSBC Life (International) Limited (Incorporated in Bermuda with limited liability).

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