Something's Gotta Give: The State of Philanthropy in Asia

Something's Gotta Give: The State of Philanthropy in Asia

In Asia, a tradition of charity rooted in strong religious and cultural beliefs about collective responsibilities to community and the needy is beginning to shift toward large-scale philanthropy aimed at achieving specific societal benefits, a report from the Economist Intelligence Unit finds. Based on interviews with academics, consultants, and prominent Asian philanthropists, the report, Something's Gotta Give: The State of Philanthropy in Asia (27 pages, PDF), examined the state of philanthropy in China, Hong Kong, Indonesia, the Philippines, and Singapore and found that giving is increasing alongside rapidly growing wealth, though it remains far below levels of giving in Western nations. The report also found that a number of leading Asian philanthropists are pursuing "strategic philanthropy" and emphasizing innovation, scale, and measurable results with an eye to creating long-term social impact. Funded by HSBC Private Bank, the report argues that despite a cultural disposition against overt displays of wealth, underdevelopment of the sector, and a lingering perception that philanthropic work in the region is accompanied by unacceptable levels of corruption, Asian philanthropy has the potential to mitigate many of the region's social challenges, including growing income inequality and environmental degradation.

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