search.noResults

search.searching

dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
VIEW FROM ASIA-P A CIFIC


By Susan Lingeswaran


Senior writer, CampdenFB, Campden Wealth


Elsewhere, the Global Family


Office Report 2018 by Campden Research and UBS finds that the average Asian family office gave an average of only $1.3 million to philanthropic causes—almost five times less than Europe’s average of $6.4 million. Are these comparisons perhaps


a little unfair? And do they illustrate the wider story in Asia? Historically, charitable giving in


Asia has been seen as a personal affair and not something to declare publicly. Because of this, it has been difficult for researchers to chart the scale and scope of philanthropy in the region. The Doing Good Index 2018 notes that far from not wanting to donate to charitable causes, Asian philanthropists have hesitated giving to charitable organisations in their region, due to a lack of clarity; and scandals involving


THE ART OF GIVING A 10


sia’s story over the past few years has been a tale of rapidly rising wealth and with it, increased philanthropic giving. In 2014, Hong Kong real estate moguls Ronnie and Gerald Chan hit western headlines when they pledged a $350 million gift to Harvard University through their


charitable foundation—the largest in the institution’s history. In its 2016 study on philanthropy, BNP Paribas said that 27% of high net worth Asians planned to leave at least a third of their fortune to charity. But in 2018, at a time when personal wealth in Asia is at an


all-time high, new reports have suggested that the Asia region is lagging further behind than it should be. According to the Centre for Asian Philanthropy and Society’s


Doing Good Index 2018, the region’s philanthropists are capable of giving around 11 times more than the $45.5 billion it currently gives. The report’s researchers reasoned that with a combined GDP of $25.4 trillion, charitable giving by philanthropists across South Asia, East Asia, and the Pacific could potentially reach $500 billion. This level would be reached if the region gave the same 2% share of GDP that the United States does.


CAMPDENFB.COM


charities. Philanthropists say governments could help address this by encouraging more transparency and accountability; and ensuring relevant regulations for the sector are easily understood. Headlines this year too suggest that the tide


of Asian giving could be turning, despite these reservations around transparency. In March, Hong Kong billionaire Li Ka-


Shing said he would retire to focus on his charitable foundation, which he affectionately calls his “third son”. Four months later, Jack Ma, one of China’s richest men and co- founder of e-commerce behemoth Alibaba, also announced his plan to retire to pursue philanthropy in an area close to his heart— education. In announcing his next move, Ma credited Microsoft’s Bill Gates for inspiring him to create a personal foundation for his philanthropic ventures. “There’s a lot of things I can learn from Bill


Gates,” he said at the time. “I can never be as rich, but one thing I can do


better is to retire earlier.” As more wealthy investors get inspired


to follow suit, and with the region’s wealth projected to keep growing, could Asia become the new world leader in philanthropy?


ISSUE 74 | 2018


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112
Produced with Yudu - www.yudu.com