Asian philanthropy

Asia's rich give back

Philanthropy in Asia is patriotic, but not directed to religious institutions, despite religion driving charitable donations, finds a joint Insead-UBS study.
Kathyrn Shih, UBS
Kathyrn Shih, UBS

Continuity of core family values and leaving behind a legacy in areas like health and education are driving forces behind the philanthropic activities of Asia’s older generation of rich, according to a joint study by UBS and Insead.

Last year, 36% of all charitable donations in Asia were to educational causes, followed by 10% to poverty alleviation and development, 9% to health and 5% to disaster relief. In contrast, the younger generation of rich support giving to the arts, civil rights and the environment. Not surprisingly, Asian families tend to donate most money to causes in their home countries, the countries they emigrated from or their own ethnic or socio-linguistic...

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