Philanthropic giving in Asia forecast to hit US$1.5 trillion over next decade

Philanthropic giving in nine Asian jurisdictions is projected to hit US$1.5 trillion over the next decade, while corporate giving plays a larger role in Hong Kong than in many regional peers, according to a new report released at a Jockey Club forum.

The Commission on Asian Philanthropy released its interim report on Monday, while the Hong Kong Jockey Club Charities Trust revealed in a separate report that it had contributed around 1.8 per cent of the city’s gross domestic product (GDP) in the 2024-25 financial year.

Both reports were released on the first day of the Jockey Club’s PBC (Philanthropy for Better Cities) Forum 2026, which brought philanthropists, social entrepreneurs and policymakers, among others, to the city.

At the opening ceremony, Jockey Club chairman Martin Liao Cheung-kong said the forum had provided Hong Kong with an opportunity to “showcase its credentials” as a global hub and reinforced its role as a bridge between East and West.

“We are gathering at a critical time,” he said. “Philanthropy is growing in importance because governments are no longer alone in confronting the world’s most profound challenges.

“Today, communities, businesses and civic society are all grappling with ever more complex social needs, demographic shifts, technological disruption and the pressing realities of climate change.”