Hong Kong ranks third globally as philanthropy hub, behind New York and Seoul, study finds

Hong Kong has been ranked as the third best city globally for wealthy individuals looking to make philanthropic contributions over the medium term, according to a study by Altrata. The city follows New York and Seoul in the inaugural Giving Opportunity Index, which evaluated 100 cities based on philanthropic infrastructure, donor affinity, and wealth. Hong Kong received a score of 47.2 out of 100, while New York scored 60 and Seoul scored 49.

The South China Morning Post - Hong Kong reports that Hong Kong's ranking is supported by a high concentration of private wealth and extensive wealth-management and family-office infrastructure. The study defines the "global wealthy" as individuals with a net worth exceeding US$5 million, while "donors" are those who made at least one donation of US$1,000 or more between 2015 and 2025.

The report notes that recent reforms in finance and real estate have bolstered fortunes as the city pivots toward facilitating capital linkages with mainland China. Additionally, an established culture of family philanthropy is evolving through more formal giving opportunities, though local networks and trusted introductions remain prominent.

Brief written by urgent.news from South China Morning Post, South China Morning Post - Hong Kong — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.