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Hong Kong has ranked #1 in 2018 global IPO fundraising whopping a total of US$35,580m leading NYSE in second place at US$28,574m but how are we doing in charities fundraising?
According to a previous HK Legislative Council Secretariat Research, the total donations was US$1,500m in 2014-2015 equivalent to 0.52% of the GDP compared to 5.4% in US for the same period. The Pearl of the Orient is placed 30th in the World Giving Index (WGI) in 2018, an annual survey organised by the British charity – Charities Aid Foundation (CAF). The CAF World Giving Index gives a unique insight into trends in generosity across the globe is an aggregate of the following three categories: “Helped a stranger”, “Donated money”, “Volunteered time”.
Interestingly, at 0.52% GDP donation, Hong Kong is already recognised as a popular charities fundraising centre. The message needs to be drummed up to raise up to the potential of the city to the likes of US at ten folds higher.
Diving deeper into some of the WGI dimensions unveils more about the philanthropic side of the Pearl. The score is
60% (ranked #35) vs 83%(#1 Lybia) in “helped a stranger” – looks like the city is not as risk-taking compared to our financial appetite. Take the benefit of the doubt, be a good Samaritan.
In “volunteered time”, Hong Kong is at 19% (#76) vs 53%(#1 Indonesia). Undoubtedly, we have more work in volunteerism. While there is a rise in the number of opportunities and platforms, the drive needs more of cultural push – next time you see a volunteering opportunity, seize it, share it and make it a part of our hobbies.
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