Philanthropic giving in Asia forecast to hit US$1.5 trillion over next decade
Philanthropic giving in nine Asian jurisdictions is projected to hit US$1.5 trillion over the next decade, while corporate contributions play a larger role in Hong Kong than in many regional peers, according to a new report released at a Jockey Club forum. The Commission on Asian Philanthropy released its interim report on Monday, while the Hong Kong Jockey Club Charities Trust revealed in a…
A new report forecasts that philanthropic giving in nine Asian countries will reach US$1.5 trillion over the next decade. While corporate contributions are more prominent in Hong Kong than in other regional cities, major philanthropic organizations have made significant strides. The Commission on Asian Philanthropy, consisting of 13 charitable organizations from 10 regions, found that philanthropic giving in the nine jurisdictions totalled US$109 billion in 2024.
If each jurisdiction could achieve "upside opportunity," additional philanthropic resources of US$189 billion could be generated. Individuals contribute approximately half of the charitable giving, followed by companies at 25%, and state-led contributions at 21%. In Hong Kong, corporate giving accounts for 43% of philanthropic spending, while individual giving ranks second lowest at 39%.
Nationally, philanthropic efforts have contributed around 1.8% of Hong Kong's GDP, supporting 52,000 full-time equivalent positions. The Jockey Club Charities Trust, a major player in Hong Kong's philanthropic landscape, is recognized for its unique "value creation model" and its role in bolstering the city's position as a wealth management hub.
Written by urgent.news from South China Morning Post - Hong Kong's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
