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 predicts philanthropic giving in nine Asian regions will reach US$1.5 trillion over the next ten years, according to the Commission on Asian Philanthropy. Corporate contributions in Hong Kong significantly surpass those of other regional cities. The Jockey Club Charities Trust in Hong Kong contributed 1.8% of the city's GDP in the 2024-25 fiscal year, highlighting its pivotal role in philanthropy.
Chief Secretary Eric Chan Kwok-ki emphasized Hong Kong's unique position as a bridge between East and West, allowing it to leverage global capital for the greater good. Philanthropy is becoming increasingly crucial in addressing complex social issues arising from demographic shifts, technological disruption, and climate change. Philanthropic involvement spans various sectors, with individuals contributing 50% of charitable donations, companies 25%, and state-led contributions 21%.
In Hong Kong, corporate giving accounts for 43% of philanthropic spending, the highest among surveyed jurisdictions.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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