Yahoo Finance 30 Countries With Most Paid Vacation Days Per Year
In this article, we will look at the 30 countries with the most paid vacation days per year. We have also talked about the companies that offer paid vacation days in the US. If you want to skip our detailed analysis, head straight to the 10 Countries With Most Paid Vacation Days Per Year.
While US is largely known as one of the countries with the least vacation days, the Pew Research Center's recent study reveals that a large portion of US workers don't fully utilize their paid time off benefits. More than 4 in 10 employees, approximately 46%, take less time off than offered by their employers, according to the survey. Notably, upper-income workers exhibit a higher tendency of 51% to underutilize this benefit compared to middle- and lower-income counterparts.
Disparities are also evident across educational attainment levels, with 51% of workers with a bachelor's degree or higher opting not to take all their available time off, contrasting with 41% of those with less education. Factors such as employment type and industry further influence this trend. Salaried employees (52%) and managers (54%) are more inclined to forego their allotted time off compared to hourly workers and non-managers. Moreover, workers in education (68%) and government/public administration/military sectors (57%) demonstrate higher rates of underutilization than those in other industries. While reasons for not taking all available time off vary, most common reasons are not feeling the need to, concerns about falling behind at work, and guilt about placing additional burdens on coworkers.
Similarly, less than two in 10 employees in Japan take annual paid leave, with Gen X employees being the most reluctant to do so, with 84% of them not utilizing their owed leave. This reluctance stems from deep-rooted cultural attitudes towards work ethic and a fear of inconveniencing others, as taking leave is often viewed as causing meiwaku, or inconvenience, to colleagues and clients. The pressure to prioritize work over personal time is further exacerbated by the belief that overtime or time spent at work, rather than on holiday, increases the chance of promotion, perpetuating a cycle of overwork.
Despite government reforms introduced in 2019 in Japan to address issues such as excessive overtime and unused leave, the cultural norms surrounding work persist. While initiatives like caps on working hours and premium pay for overtime have been implemented, there remains a major challenge in changing attitudes towards taking time off.
In the context of the US, where paid holiday isn't mandated by law, travel perks hold particular appeal. With rising living costs globally, offering paid holiday expenses becomes a significant value-add for employees. Moreover, the attraction of these perks isn't merely about extravagant vacations; it's a strategic way to attract and retain talent in a competitive job market.
In a post-pandemic era where work-life balance is paramount, companies are redefining perks by offering generous travel incentives. Travel-related companies spearheaded this trend, with Airbnb Inc (NASDAQ:ABNB) granting employees $2,000 in annual travel credits, while Expedia Group Inc (NASDAQ:EXPE) reimburses travel expenses between $1,250 to $1,750. Now, different industries are following suit, with companies like Calendly providing a $1,000 vacation stipend and Bamboo HR offering a $2,000 annual travel allowance.
Airbnb Inc (NASDAQ:ABNB) has established itself as a pioneer in supporting its workforce with strong paid leave policies. Recognized by the National Partnership for Women and Families in 2021, Airbnb Inc (NASDAQ:ABNB)’s innovative approach to bereavement leave, offering paid time off for employees mourning the loss of a close family member, highlights its commitment to employee well-being. With a range of paid leave options available, including parental leave of up to 10 weeks, medical leave for birth parents of up to 12 weeks, and caregiver leave offering up to 6 weeks of paid time off, Airbnb Inc (NASDAQ:ABNB) ensures that employees can prioritize their familial responsibilities without financial strain.
Through initiatives like phased return to work, providing a 12-week transition period for new parents to work at 80% capacity while receiving full pay, Airbnb Inc (NASDAQ:ABNB) empowers employees to balance their professional and personal lives effectively. These policies not only enhance employee morale and satisfaction but also contribute to improved productivity and retention rates within the company.
However, despite Airbnb Inc (NASDAQ:ABNB)’s proactive stance on paid leave, the absence of a national policy in the US highlights broader challenges facing workers nationwide.
On the other hand, apart from paid leave, staff members at Expedia Group Inc (NASDAQ:EXPE) also enjoy exclusive discounts on the platform and receive travel bonuses for successful referrals. Moreover, many employees at Expedia Group Inc (NASDAQ:EXPE) qualify for an IATAN card, granting them professional travel credentials that unlock a plethora of perks including special incentives from airlines, hotels, cruise lines, car rental services, and tourist attractions.
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Methodology
To list the countries with the most paid vacation days per year, we 50 identified countries with the most public holidays in the world. Then, out of those 50, 30 with the highest number of total paid vacations, including weekends, were shortlisted, and have been listed below in an ascending order.
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30. Austria
Paid Vacation Days Per Year: 38
The country prioritizes work-life balance, recognizing the importance of leisure time for physical and mental well-being. Austrian labor regulations mandate a generous allocation of paid vacation of 38 days.
29. Oman
Paid Vacation Days Per Year: 39
Oman’s paid vacation policy aligns with Oman's efforts to attract and retain skilled workers by offering competitive benefits packages. This also confirms that the country is dedicated to employee wellbeing.
28. Moldova
Paid Vacation Days Per Year: 39
In Moldova, Eastern Europe, employees get 39 days of paid vacations annually, making it one of the countries with the highest average vacation days per year. According to Moldova's labor code, workers must take a minimum of one two-week vacation, although they have the flexibility to divide and utilize their leave days throughout the year.
27. Comoros
Paid Vacation Days Per Year: 39
Ranking 27th in our list for the number of paid vacations per year, Comoros is the fourth smallest country in Africa, with its economy primarily reliant on agriculture and fishing. Notably, it stands as the world's leading producer of ylang-ylang, a crucial essence in perfume manufacturing.
26. Cambodia
Paid Vacation Days Per Year: 39
Designated as one of the least developed countries by the United Nations, Cambodia relies heavily on agriculture and its associated sectors, with the majority of rural households depending on them. Despite these factors, the country provides ample paid vacations for workers.
25. Iceland
Paid Vacation Days Per Year: 40
The typical workweek in Iceland spans 40 hours, inclusive of lunch breaks, and is frequently adaptable. Icelanders typically express dissatisfaction if their commute exceeds 30 minutes, ensuring that travel times remain reasonable compared to many other regions globally.
Apart from being one of the countries in Europe with the most paid vacation days per year, it is also one of the countries with the shortest working hours in the world.
24. Djibouti
Paid Vacation Days Per Year: 40
Djibouti, despite being a small country in the Horn of Africa, offers generous vacation packages primarily due to its commitment to fostering a healthy work-life balance and promoting tourism.
23. Panama
Paid Vacation Days Per Year: 41
Employees are granted 41 days of statutory paid vacation after completing 11 consecutive months of employment. The law allows employers to divide this vacation time into two equal periods, provided that the collective bargaining agreement permits it.
22. Maldives
Paid Vacation Days Per Year: 41
The country best known for tourism ranks 22nd in our list as it offers ample days of paid vacations. There are 20 public holidays in Maldives.
21. Guinea
Paid Vacation Days Per Year: 41
Like many other countries on our list, Guinea’s economy is largely dependant on agriculture. The country’s high paid vacation days are a result of labor laws aimed at promoting worker well-being and productivity.
20. Georgia
Paid Vacation Days Per Year: 41
The country places strong focus on employee wellbeing. In fact, the Labour Code of Georgia safeguards employees' right to a secure workplace environment (Article 45). Georgia's occupational safety law extends to all sectors under the Labour Code and Public Service Law since September 1, 2019, except for specific government departments with their own safety protocols.
19. Equatorial Guinea
Paid Vacation Days Per Year: 41
Agriculture serves as the primary source of employment in the country, offering income for 57% of rural households and employing 52% of the workforce. Moreover, in addition to its key role in the economy, the agricultural sector provides ample paid vacation days for workers, contributing to their overall well-being and work-life balance.
18. Ivory Coast
Paid Vacation Days Per Year: 41
With a population of 28 million, the country has a large and diverse labor pool, offering employers ample talent to choose from. Moreover, its flourishing economy, driven by coffee and cocoa production, has resulted in a high level of income, making it an economic powerhouse in West Africa.
17. Algeria
Paid Vacation Days Per Year: 41
Apart from its attractive as a country with a high number of paid vacations, Algeria boasts a diverse economy with opportunities in industries like oil and gas, agriculture, and tourism. Its strategic location in North Africa offers a gateway to both Europe and Africa, making it an attractive country for international business.
16. Turkmenistan
Paid Vacation Days Per Year: 42
Turkmenistan is abundant in natural resources, particularly gas and oil, presenting a plethora of opportunities for professionals in the energy sector. Its government is actively investing in infrastructure projects, creating demand for skilled workers.
15. Russia
Paid Vacation Days Per Year: 42
With a rich history and diverse culture, living and working in Russia provides unparalleled opportunities for personal and professional growth. Major cities like Moscow and St. Petersburg offer a cosmopolitan lifestyle, while smaller towns provide a more relaxed pace of living.
14. Peru
Paid Vacation Days Per Year: 42
With 42 paid vacation days per year, it is one of the countries that gives the most vacation days. Moreover, Peru's growing economy and vast industries such as mining, agriculture, and tourism, offer ample job opportunities for professionals seeking new challenges.
13. Monaco
Paid Vacation Days Per Year: 42
Despite its small size, Monaco offers a flourishing economy driven by industries such as finance, real estate, and tourism. Working in Monaco provides access to a high standard of living, with luxurious amenities and a safe environment.
12. Mali
Paid Vacation Days Per Year: 42
Despite challenges, Mali offers a warm and welcoming environment, with a strong sense of community and hospitality. Expatriates working in Mali have the opportunity to make a meaningful impact on local development initiatives while experiencing the country's diverse landscapes, from the Sahelian savannas to the Niger River delta.
11. Kuwait
Paid Vacation Days Per Year: 42
Ranking 11th in our list, Kuwait is one of the best countries for annual leave. Moreover, Kuwait's oil-rich economy provides numerous opportunities for professionals in the energy sector, as well as finance, construction, and healthcare. The country's strategic location in the Gulf region makes it a hub for international business, with a strong emphasis on innovation and entrepreneurship. Kuwait offers a high standard of living, with modern infrastructure, excellent healthcare, and world-class educational institutions.
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Disclosure: None. 30 Countries With Most Paid Vacation Days Per Year is originally published on Insider Monkey.
