A recent survey conducted by Herbalife, a global health and wellness company, found that almost 3 in 5 (59%) respondents in the Asia Pacific region have a side job. The top reason for starting a side job was to make ends meet (61%), followed by dealing with the rising cost of living (44%) and being less reliant on a single source of income (43%).
The survey, conducted via One Poll, polled 5,500 respondents from Australia, Indonesia, Malaysia, the Philippines, Singapore, Taiwan, and Vietnam. More than half of the respondents (56%) said that their current financial situation made it difficult to pay for necessities like food, utilities, and medicine, and 72% were equally or more worried about money than a year ago.
The most common side jobs were selling products on e-commerce websites, content creation, and writing, editing or proofreading. Direct sales, or network marketing, was the fourth most common side hustle. On average, respondents with a source of additional income said they would need to earn between US$300-$700 per month to live comfortably.
Herbalife’s regional president of Asia Pacific and China, Stephen Conchie, said, “The direct selling opportunity has existed for more than a century – it provides a way to ease people’s financial situation and, more importantly, a support system to achieve one’s goals.” Conchie also emphasized the importance of choosing a side job that’s right for the individual and mentioned that direct selling offers time flexibility and low start-up costs.
The survey also revealed that Millennials and Gen Zs were more likely to have a side job compared to other age groups. The top reasons for Millennials to start a side job were to deal with the rising cost of living (47%), to be less reliant on a single source of income (46%), and to have a financial safety net (43%). For Gen Zs, the top reasons were to have a disposable income (43%), to be less reliant on a single source of income (41%), and to deal with rising costs of living (40%).
On average, those with a side job commit about eight hours per week to their side hustle. However, the time commitment can vary, with 29% dedicating 3-5 hours a week to their side job and 22% devoting 6-10 hours per week.
Overall, the survey highlighted the challenges that many people in the Asia Pacific region face in making ends meet and the importance of having a side job as a way to supplement their income.
9 May 2023