Friday, October 03, 2014

Asian Philanthropy: Strategic Social Stewardship | The Diplomat

Asian Philanthropy: Strategic Social Stewardship | The Diplomat: "According to the 2014 World Wealth Report, released by Capgemini and RMC Wealth Management, the aggregate investable wealth of HNWIs worldwide has reached $52.62 trillion, a 13.8 percent increase over the past year. Asia-Pacific boasts an estimated $14.2 trillion, with Japan taking the lead. Hong Kong ranks fourth, with about $626 billion in HNWI assets. Asia is home to the fastest growing HNWI population, with 65 percent of total Asia-Pacific HNWI wealth residing in Japan and China.

For many Asian HNWI families, wealth brings a sense of social responsibility. The characteristics of Asian philanthropy reflect cultural values. The family unit plays an important role in driving philanthropy in Asia, seeking out and reaping many benefits from philanthropy: “1) it teaches principles like compassion, courage and tolerance, 2) it fosters capacities for leadership, innovation and responsibility, and 3) it supports family cohesion by providing a common activity and goal for the family to pursue as a unit,” a 2011 UBS INSEAD philanthropy in Asia report explains."

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