Mental health is a sustainable growth strategy for Singapore Inc

ANXIETY and depression collectively cost Singapore’s economy S$15.7 billion in productivity every year, according to a study by Duke-NUS and Institute of Mental Health. This works out to 2.9 per cent of our gross domestic product (GDP) for 2022.

Separately, a 2019 study by Cigna found that stress-related illness costs the country S$3.1 billion a year. This amounts to about 0.6 per cent of GDP.

It’s simplistic of course, but if we could manage Singaporeans’ mental health better, we’re looking at as much as a 3.5 per cent boost to GDP. Imagine 4 per cent to 5 per cent growth in these challenging times!