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Yahoo
8 hours ago
- Business
- Yahoo
Working from home: Why the UK leads in Europe and how other countries compare
The UK has the highest rate of telework among 18 European countries, with employees working an average of 1.8 days a week from home. On a wider scale, this total also places the UK second out 40 nations. But, aside from the UK, how do work-from-home (WFH) rates differ across Europe and the world? And what might explain variations between countries? The Global Survey of Working Arrangements (G-SWA) shows that telework trends have evolved since the COVID-19 pandemic. The fourth wave of the survey, conducted between November 2024 and February 2025, covers full-time workers aged 20 to 64 who have completed tertiary education (college or university). While the global telework average stands at 1.2 days per week, WFH rates vary significantly across the 40 countries surveyed, ranging from just 0.5 days per week in South Korea to 1.9 days in Canada. Several factors underpin the UK's top ranking, according to Dr. Cevat Giray Aksoy, lead economist at the EBRD and associate professor of economics at King's College London. 'The UK scores highly on cultural individualism, which is strongly associated with comfort in autonomous work environments,' said Giray Aksoy. Aksoy noted that the UK experienced long and stringent lockdowns, accelerating the adoption of remote work infrastructure and norms. He also explained that the UK's labour market is concentrated in service sectors — such as finance, consulting, and media — where WFH can be a practical option. "Crucially, British workers have developed strong and durable preferences for hybrid work, typically wanting 2–3 WFH days per week. This is no longer a marginal benefit; it's a core expectation," he said. Aksoy warned that firms ignoring this reality may face a serious disadvantage in attracting and retaining talent — particularly when competing with employers in other English-speaking countries that have embraced flexibility. In Europe, Finland (1.7 days) and Germany (1.6 days) followed the UK in the ranking. The WFH rates are also relatively high in Portugal (1.5 days), as well as in Hungary and the Netherlands (both 1.4 days). Employees in Czechia, Italy, and Sweden work from home 1.3 days per week, which is slightly above the global average. Romania, Spain, and Austria align with the global average, each reporting 1.2 remote work days per week. Dr. Aksoy attributes the variation across European countries to a mix of structural, cultural, and economic factors. 'Among these, the most powerful predictor is individualism — a cultural trait that emphasises personal autonomy, self-reliance, and independence over collective goals or close supervision,' he said. Related Remote work: Is it time for workers to go back to the office? Trump's remote work ban: What does it mean for carbon emissions and climate goals? He added that other factors also play a role. These include the severity and duration of COVID-19 lockdowns, population density, and the industrial structure of each economy. For instance, countries with a larger share of remote-friendly sectors such as IT and finance are better positioned to support hybrid models. Densely populated countries also often see higher WFH levels, in part due to longer commutes. Greece reports the lowest WFH rate in Europe at just 0.6 days per week. 'Part of the explanation lies in the structure of the Greek economy, which leans heavily on sectors like tourism, retail, and hospitality — jobs that generally require physical presence,' said Aksoy. 'But deeper cultural and institutional factors also play a role. Greece scores relatively low on individualism,' he added. He stated that digital adoption and management practices were relatively underdeveloped before the pandemic, which likely slowed the normalisation of WFH. While Finland ranks second in Europe with 1.7 remote work days per week, Norway and Denmark report significantly lower rates at just 0.9 days. Sweden, with 1.3 days, sits in between, reflecting a clear divide in remote work trends across the Nordic countries. Aksoy explained that Finland has a slightly more individualistic culture and a long-standing emphasis on work-life balance and employee autonomy compared to Denmark and Norway, which may maintain more traditional management practices. 'Finnish organisations, especially in the public sector and technology industries, were early adopters of flexible work policies — even before the pandemic,' he added. Among Europe's five largest economies, France has the lowest remote work rate, with employees averaging just 1 day per week from home. Turkey follows closely at 0.9 days, while Poland is slightly ahead with 1.1 days. Overall levels of working from home have declined globally, dropping from an average of 1.6 days per week in 2022 to 1.33 days in 2023. In 2024 and 2025, they fell far more modestly to 1.27 days. The research concludes that remote work levels have roughly stabilised since 2023. 'However, this stability doesn't mean stasis. Incremental shifts could still occur — driven by new technologies, changing demographics, or evolving labour market conditions,' Aksoy added. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
8 hours ago
- Business
- Yahoo
Working from home: Why the UK leads in Europe and how other countries compare
The UK has the highest rate of telework among 18 European countries, with employees working an average of 1.8 days a week from home. On a wider scale, this total also places the UK second out 40 nations. But, aside from the UK, how do work-from-home (WFH) rates differ across Europe and the world? And what might explain variations between countries? The Global Survey of Working Arrangements (G-SWA) shows that telework trends have evolved since the COVID-19 pandemic. The fourth wave of the survey, conducted between November 2024 and February 2025, covers full-time workers aged 20 to 64 who have completed tertiary education (college or university). While the global telework average stands at 1.2 days per week, WFH rates vary significantly across the 40 countries surveyed, ranging from just 0.5 days per week in South Korea to 1.9 days in Canada. Several factors underpin the UK's top ranking, according to Dr. Cevat Giray Aksoy, lead economist at the EBRD and associate professor of economics at King's College London. 'The UK scores highly on cultural individualism, which is strongly associated with comfort in autonomous work environments,' said Giray Aksoy. Aksoy noted that the UK experienced long and stringent lockdowns, accelerating the adoption of remote work infrastructure and norms. He also explained that the UK's labour market is concentrated in service sectors — such as finance, consulting, and media — where WFH can be a practical option. "Crucially, British workers have developed strong and durable preferences for hybrid work, typically wanting 2–3 WFH days per week. This is no longer a marginal benefit; it's a core expectation," he said. Aksoy warned that firms ignoring this reality may face a serious disadvantage in attracting and retaining talent — particularly when competing with employers in other English-speaking countries that have embraced flexibility. In Europe, Finland (1.7 days) and Germany (1.6 days) followed the UK in the ranking. The WFH rates are also relatively high in Portugal (1.5 days), as well as in Hungary and the Netherlands (both 1.4 days). Employees in Czechia, Italy, and Sweden work from home 1.3 days per week, which is slightly above the global average. Romania, Spain, and Austria align with the global average, each reporting 1.2 remote work days per week. Dr. Aksoy attributes the variation across European countries to a mix of structural, cultural, and economic factors. 'Among these, the most powerful predictor is individualism — a cultural trait that emphasises personal autonomy, self-reliance, and independence over collective goals or close supervision,' he said. Related Remote work: Is it time for workers to go back to the office? Trump's remote work ban: What does it mean for carbon emissions and climate goals? He added that other factors also play a role. These include the severity and duration of COVID-19 lockdowns, population density, and the industrial structure of each economy. For instance, countries with a larger share of remote-friendly sectors such as IT and finance are better positioned to support hybrid models. Densely populated countries also often see higher WFH levels, in part due to longer commutes. Greece reports the lowest WFH rate in Europe at just 0.6 days per week. 'Part of the explanation lies in the structure of the Greek economy, which leans heavily on sectors like tourism, retail, and hospitality — jobs that generally require physical presence,' said Aksoy. 'But deeper cultural and institutional factors also play a role. Greece scores relatively low on individualism,' he added. He stated that digital adoption and management practices were relatively underdeveloped before the pandemic, which likely slowed the normalisation of WFH. While Finland ranks second in Europe with 1.7 remote work days per week, Norway and Denmark report significantly lower rates at just 0.9 days. Sweden, with 1.3 days, sits in between, reflecting a clear divide in remote work trends across the Nordic countries. Aksoy explained that Finland has a slightly more individualistic culture and a long-standing emphasis on work-life balance and employee autonomy compared to Denmark and Norway, which may maintain more traditional management practices. 'Finnish organisations, especially in the public sector and technology industries, were early adopters of flexible work policies — even before the pandemic,' he added. Among Europe's five largest economies, France has the lowest remote work rate, with employees averaging just 1 day per week from home. Turkey follows closely at 0.9 days, while Poland is slightly ahead with 1.1 days. Overall levels of working from home have declined globally, dropping from an average of 1.6 days per week in 2022 to 1.33 days in 2023. In 2024 and 2025, they fell far more modestly to 1.27 days. The research concludes that remote work levels have roughly stabilised since 2023. 'However, this stability doesn't mean stasis. Incremental shifts could still occur — driven by new technologies, changing demographics, or evolving labour market conditions,' Aksoy added. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Al-Ahram Weekly
3 days ago
- Business
- Al-Ahram Weekly
EBRD, Emirates NBD Egypt partner to boost private sector financing with $25mln facility - Markets & Companies
The European Bank for Reconstruction and Development (EBRD) has signed a $25 million (€21.7 million) risk-sharing facility with Emirates NBD Egypt to expand access to finance for Egyptian private-sector firms, particularly those with high export potential and youth-led ventures. Emirates NBD Egypt is the first bank in the country to partner with the EBRD under this new facility, which comprises a $15 million (€13.0 million) unfunded and a $10 million (€8.7 million) funded risk-sharing structure. The partnership will bolster Emirates NBD Egypt's lending capabilities in local and foreign currencies and improve access to blended finance for SMEs and larger corporates. It will also enable eligible clients to benefit from tailored EBRD advisory services, while the EBRD will guarantee up to 65 percent of each sub-loan extended under this scheme. Aligned with the EBRD's country strategy for Egypt, the facility supports transition to a greener, more competitive economy while emphasising private-sector growth, innovation, and governance enhancement. Special focus will be placed on supporting young entrepreneurs and businesses with strong export potential. Emirates NBD Egypt, a subsidiary of Emirates NBD Group, is one of the country's leading banks holding €3.0 billion in assets as of December 2024. It operates over 60 branches across Egypt's 27 governorates and employs around 2,300 staff. Egypt, a founding member of the EBRD, has received over €13.3 billion in investments across 202 projects since 2012. These have spanned infrastructure, agribusiness, manufacturing, and technical support for over 500 local SMEs. This new initiative strengthens Egypt's financial ecosystem and marks a significant step forward in mobilizing resources for the country's private sector. Follow us on: Facebook Instagram Whatsapp Short link:
bnok24
3 days ago
- Business
- bnok24
Emirates NBD Egypt Becomes the First Bank in Egypt to Join the 'Risk-Sharing' Agreement with the European Bank for Reconstruction & Development (EBRD)
Emirates NBD Egypt has announced the signing of a Risk-Sharing Facility (RSF) agreement with the European Bank for Reconstruction and Development (EBRD), in a strategic partnership aimed at broadening access to finance for the Egyptian firms, particularly small- and medium-sized enterprises (SMEs). The agreement is designed to ensure the sustainable growth of these businesses and enhance their competitiveness in the local market. This partnership comes as part of the bank's strategy to support inclusive economic development, empower the private sector, and foster financial inclusion, by offering innovative financial solutions tailored to the needs of the Egyptian market and aligned with the national efforts to build a robust and sustainable economy The signing of this agreement is considered the first of its kind, with Emirates NBD Egypt becoming the first bank in the local market to join EBRD's Risk-Sharing Framework. This step underscores the bank's leading position in the Egyptian banking sector and its capability to forge impactful international partnerships that further elevate its role in delivering integrated banking services, accelerating digital transformation, and providing an advanced banking experience that meets the highest standards of quality and innovation In this context, Amr El-Shafei, CEO and Managing Director of Emirates NBD Egypt, stated: 'This agreement marks a key milestone in our journey, and we're proud to be the first bank in Egypt to sign this partnership with EBRD. This collaboration reaffirms the trust that such a high caliber international financial institution places in Emirates NBD Egypt due to its ability to create real and lasting impact within communities and supporting the national economy through fostering a strong investment climate and driving financial inclusion.' He added: 'As a trusted banking partner, we remain committed to empowering the private sector and supporting SMEs as key drivers of economic growth. Through this agreement, we aim to further expand our financing services and offer innovative solutions that align with the Sustainable Development Goals (SDGs) and Egypt's Vision 2030 Tamer Ragheb, Head of Corporate and Institutional Banking at Emirates NBD Egypt, also commented: 'This agreement marks a significant achievement for the bank, as it encompasses both funded and unfunded facilities, providing us with increased flexibility in designing and delivering a wide range of innovative banking solutions. The new sub-loans will be directed towards supporting local companies with strong export potential, with a special focus on industrial enterprises contributing to import substitution and deepening local manufacturing. Under the terms of the agreement, EBRD will provide guarantees covering up to 65% of the value of each sub-loan issued by Emirates NBD Egypt Emirates NBD Egypt is one of the leading banks in the Egyptian market and a wholly owned subsidiary of Emirates NBD Group. As of December 2024, the bank's total assets reached approximately EUR 3 billion. The bank operates under a comprehensive banking model, offering services through a network of over 62 branches and 338 ATMs spread across all Egyptian governorates, supported by a workforce of more than 2,300 employees As for the European Bank for Reconstruction and Development, Egypt is one of its founding members and has been benefiting from its investments since 2012. To date, the bank has invested nearly EUR 13.3 billion in more than 200 development projects across the country. These projects span vital sectors including finance, food industries, manufacturing, and services, as well as infrastructure projects in the areas of electricity, transport, and water and sanitation. Additionally, the bank has provided technical support to over 500 SMEs, as part of its ongoing efforts to strengthen the competitiveness of the Egyptian economy Google News تابعونا على تابعونا على تطبيق نبض
Morocco World
3 days ago
- Business
- Morocco World
BERD Boosts Financing for Key Mining Projects in Morocco
The European Bank for Reconstruction and Development (EBRD) is lending up to $25 million to Canadian mining company Aya Gold & Silver Inc. to support the ongoing exploration of the Boumadine polymetallic mine in the Drâa-Tafilalet region, Southeastern Morocco. Emerging as one of the most significant mining assets in Morocco and North Africa, the Boumadine project plays a key role in Aya's strategy to diversify its portfolio and expand beyond its Zgounder silver mine near Oujda, Northeastern Morocco. The financing will fund an exploration program that includes drilling, engineering work, updates to the mine plan, and a preliminary economic assessment—key steps toward large-scale development and potentially positioning Boumadine as a world-class deposit. The investment will additionally help launch advisory support to improve Aya's value chain—enhancing resource management, energy efficiency, and efforts to decarbonise its supplier network. This marks the third round of financing between the EBRD and Aya Gold & Silver, reinforcing its role as a long-term partner for Aya, laying the groundwork for future financing of the mine's construction. Beyond exploration, the funding aims to deliver broader local impact. Aya plans to introduce new vocational training programs and work with universities to tailor curricula to meet the mining industry's evolving needs in the Drâa-Tafilalet region. The company will also partner with the EBRD on a campaign to promote women's employment in Morocco's mining sector. The company had announced earlier this year that it plans to invest an additional $50 million in Morocco over the upcoming years. In the first quarter of 2025, it achieved record production at its Zgounder silver mine, producing 1,068,652 ounces of silver—a 192% increase compared to the same period in 2024. Established in 2007, the company operates the Zgounder silver mine and is expanding its activities with projects such as Boumadine, which contains several metals including silver, gold, zinc, and lead. Aya Gold & Silver Inc. has stated its intention to follow responsible mining practices, including minimizing environmental impact through efficient resource management, such as water conservation measures and efforts to reduce energy consumption.
