Luxembourg has the most lucrative holidays in the world
Michael T, Unsplash
In a new global study, Moorepay analysed data from 187 countries, combining paid annual leave and public holidays to find out where employees get the most paid time off and what their monetary value is.
Yemen holds the absolute record with 46 paid days per year (30 days of holiday and 16 holidays). Libya (45) and Bahrain (44) follow. The Philippines has the lowest number of paid days at 16, while the USA does not provide any mandatory paid holidays at all.
In Europe, Austria leads the way with 43 days, while the Netherlands, Switzerland and the UK are the outsiders with 20-28 days. At the same time, the UK is only 114th in terms of the number of days off, but 19th in terms of their monetary value - an average of £2,960 ($4,040) per year.
The most "expensive" holiday days can be boasted by countries with high average salaries. Luxembourg takes the first place: 26 days of holiday and 11 holidays, which in money equivalent gives $11,512. It is followed by Norway ($10,353), Denmark ($8,702), Sweden ($8,500) and Iceland ($8,239).
The authors of the study highlight that generous paid time off benefits employee health, productivity and retention, and employers can use this data to improve their competitiveness in the labour market.
