More than one-half (56%) of leaders of privately held businesses globally say their stress levels are greater now than they were a year ago, according to a survey from Grant Thornton.

Among nations surveyed, China tops the list for the most stressed leaders: 76% of business owners say their stress levels have increased in the previous year, followed by business owners in Mexico (74%), Turkey (72%), and Vietnam (72%).

At the opposite end of the scale, business owners in Sweden (23%), Denmark (25%), Finland (33%), and Australia (35%) have the lowest stress levels in the world.

Meanwhile, 50% of business owners in the US say their stress levels have increased in the past year, as do 41% of those in the UK and 35% of those in Canada.

Stress Higher in Economies where GDP Is Unstable

A link is apparent between stress levels and GDP: Business owners in mainland China, Vietnam, Mexico, India, and Turkey all rank high on the stress list and are working in environments where dramatically high growth is expected.

At the opposite end of the growth scale, business owners in Ireland (62%), Spain (65%), and Greece (68%) also feature high on the stress list, as they struggle to keep businesses alive in economies that are contracting.

Most business owners (38%) cite the economic climate as their major causes of stress. Over one-quarter (26%) cite pressure on cash flow, 21% cite competitor activities, and 19% cite a heavy workload.

Stress Levels and Vacation

There is a direct correlation between stress levels and the number of vacation days taken each year: Countries at the top of the stress list are those where business owners, on average, take fewer holidays each year:

About the data: Findings from Grant Thorton's International Business Report (IBR) 2010 are based on a poll of over 7,400 business owners across 36 economies in January 2010.