Infographic shows unique view into global charitable giving
What motivates wealthy individuals around the world in making charitable donations? How are views on philanthropy similar or different in regions around the world? How does public policy and laws influence the levels of giving?
You can find answers in this useful infographic, which is a fascinating snapshot of global charitable giving.
The Bank of the West Wealth Management infographic presents key findings from the BNP Paribas Individual Philanthropy Index, which surveyed 414 wealthy individuals in the United States, Europe, Asia and the Middle East.
The Philanthropy Index is based on a survey conducted by Forbes Insights, which is geared toward the measurement of replicable, sustainable, and efficient philanthropy. Scores are determined in three categories: giving (current and projected), innovation, and promotion.
Among the key findings represented in the infographic:* Top causes: Respondents from Europe, Asia and the Middle East cited the environment, whereas health is the predominant cause for the United States. * Primary motivations: The US and Middle East were more motivated by “personal experience with area of focus,” while Asia ranked “desire to give back to society” as number one, and Europe cited “altruistic desire.” * Timeframe for results: Middle Eastern philanthropists are the most patient, with 55% of them willing to wait for results of their charity for more than 25 years. Philanthropists from Asia are the least patient, with just 11% willing to wait that long. * Impact of policy on giving: Looking at how current policy influenced people to give more, those in the Middle East were most influenced by policy, but those in the U.S. indicated that tax relief policies, including charitable deductions, were crucial to their giving decisions. * Urgency of the need: Across the entire group, 79 percent indicated that philanthropic giving as “urgent” or “extremely urgent.”
To learn more about the BNP Paribas Individual Philanthropy Index or to discuss your philanthropic goals with a Bank of the West financial professional experienced in developing strategies and implementing plans, visit our site.