Asian philanthropy set to hit $1.5 trillion over next decade, report shows

Philanthropic spending across Asia is projected to reach US$1.5 trillion over the coming decade, according to an interim report released by the Commission on Asian Philanthropy.

The Commission unveiled its findings on Monday, coinciding with the opening of the Jockey Club's PBC (Philanthropy for Better Cities) Forum 2026, which convened philanthropists, social entrepreneurs and policymakers in Hong Kong.

Corporate giving leads in Hong Kong

Corporate giving accounts for the largest proportion of philanthropic expenditure in Hong Kong, the Commission's report noted.

A separate study by the Hong Kong Jockey Club Charities Trust disclosed that the organisation contributed approximately 1.8 per cent of the city's gross domestic product during the 2024-25 financial year.

Forum positions city as global philanthropy hub

Jockey Club chairman Martin Liao Cheung-kong told the forum's opening ceremony that the event offered Hong Kong a chance to "showcase its credentials" as a global hub and strengthen its position as a bridge between East and West.

"We are gathering at a critical time," Liao said. "Philanthropy is growing in importance because governments are no longer alone in confronting the world's most profound challenges".

He added that communities, businesses and civic society are now "grappling with ever more complex social needs, demographic shifts, technological disruption and the pressing realities of climate change".

Source: South China Morning Post