Asia Philanthropy Set to Reach US$1.5 Trillion in Next Decade, Hong Kong Takes Lead
SCMP · 1 SOURCESabout 1 hour ago2 MIN
Summary
Philanthropic giving across nine Asian jurisdictions is projected to reach US$1.5 trillion over the next decade, according to an interim report by the Commission on Asian Philanthropy released at the Hong Kong Jockey Club's PBC Forum 2026 . The Hong Kong Jockey Club Charities Trust separately disclosed it contributed approximately 1.8 percent of the city's GDP in the 2024-25 financial year, highlighting Hong Kong's significant role in regional philanthropy . Senior government officials and international leaders used the forum to reinforce Hong Kong's position as a global hub for charitable work and a bridge between East and West.
Key Points
- The Commission on Asian Philanthropy released its interim report on Monday at the Jockey Club's PBC Forum 2026, projecting US$1.5 trillion in giving across nine Asian jurisdictions over the next decade
- The Hong Kong Jockey Club Charities Trust contributed around 1.8 percent of Hong Kong's GDP in the 2024-25 financial year, exceeding many regional peers
- Jockey Club chairman Martin Liao Cheung-kong said the forum showcased Hong Kong's credentials as a global philanthropy hub and its role bridging East and West
- Chief Secretary Eric Chan Kwok-ki, Hong Kong's No. 2 official, said the government is fully committed to establishing the city as a global centre for philanthropy
- Former New Zealand prime minister Helen Clark delivered the keynote address, highlighting philanthropy as a tool during times of geopolitical turbulence
Why It Matters
The projections signal a major shift in how social challenges will be addressed across Asia, with private philanthropy taking on a larger share of traditionally government-led responsibilities. Hong Kong's outsized corporate giving and its strategic position between East and West position the city to attract significant philanthropic capital as the sector expands .
The projections signal a major shift in how social challenges will be addressed across Asia, with private philanthropy taking on a larger share of traditionally government-led responsibilities. Hong Kong's outsized corporate giving and its strategic position between East and West position the city to attract significant philanthropic capital as the sector expands .