South America Backgorund
Using survey data from the Americas Barometer by the Latin American Public Opinion Project at Vanderbilt, Corral concluded that “happiness in Latin America and the Caribbean is related to economic factors as well as social, political and demographic factors. At least within this region, economic development at the national levels explains different levels of life satisfaction among citizens in the region.” Corral found that economic factors—income and perceptions of the individual and national situations—bear a positive correlation with levels of life satisfaction. It is no surprise, then, that survey respondents in earthquake-ravaged Haiti, the poorest country in the region, ranked the lowest on the life satisfaction index at 35.4 percent. But, most people in the rest of Latin America see themselves as happy. Brazil led the pack at 71.6 percent, followed by Costa Rica (67.7 percent), Venezuela (65.6 percent) and Panama (65.1 percent), with Trinidad & Tobago and Honduras tied at 63.3 percent. Jamaica, Dominican Republic, El Salvador, Belize and Peru are all above 50 percent. For the region as a whole, perception of individual economic conditions is by far the strongest predictor of individual happiness, Corral found. Those with better economic profiles are happier. A person’s subjective view of his wealth was more influential on his satisfaction level than an objective measure of wealth. “It is possible that this relationship is driven by dual causality,” Corral wrote. “A perceived positive economic situation increases happiness, and as well, happy people tend to perceive better economic situations.” Marriage has a positive but not significant effect on life satisfaction among the region’s citizens, Corral found. Churchgoers and those who are surrounded by people they trust register high levels of satisfaction. Women, the elderly, young adults, the better educated and those who live in large cities likewise express high levels of happiness. Having children and being unemployed weigh negatively on individual satisfaction.
Country People values, Business Tradition, Etiquette
Business Culture of South Asia
Historically, South Asia is an agricultural country with a very small industrial sector employing about 40 percent of the active labor force. Smallness of industrial sector may seem to be congenial to the development of a healthy industrial relationship but this could not be realized even within a period of fifty-eight years of the country’s independence. While some of the reasons of this failure are historical and traditional cultural background, many are in fact attributable to the poor management system and legal system concerning industrial relations in the country. Usually trade unions are organized mostly on the basis of political, regional and even personal loyalties which was encouraged...