Are public holidays holding us back?

Does Singapore owe its success, in part, to few public holidays compared to its neighbours?

Singapore has the 2nd lowest public holidays in ASEAN, yet it boasts the highest GDP.

If we assume that fewer public holidays lead to higher productivity, then why does Laos, with two fewer public holidays than Singapore, face challenges in growing its GDP?

A country’s productivity is multi-faceted. With diverse cultures, economic structures, and political climates across ASEAN nations, measuring productivity isn’t as simple as assuming fewer rest days lead to greater output. Let’s take a look at some factors affecting productivity through the lens of the Bertelsmann Transformation Index (BTI):

Evidently, productivity is shaped by a far broader set of factors. Political, economic, and governance factors are just a few of the critical elements that influence a nation’s productivity. For instance, countries with similar numbers of public holidays can show vastly different productivity levels due to disparities in these areas.

While fewer public holidays may not directly boost productivity, more public holidays can improve mental health, which indirectly supports long-term productivity. For example, the Straits Time reported that in Singapore, mental health challenges drain its economy by $15.7 billion annually in lost productivity, which is roughly 3% of GDP.

Perhaps it’s time we reconsider the value of rest, not merely as a means to boost productivity, but as an essential ingredient for our collective well-being.