How committed to individual giving are the wealthy in Europe, the US, Asia and the Middle East? In what ways are philanthropists from these regions similar, and how are they different? How important is timing in philanthropy? The newly released BNP Paribas Individual Philanthropy Index offers answers to these questions.
Now in its second year, the index is based on a survey of 414 high net worth individuals (at least $5 million in assets under management) from Europe, Asia, the Middle East and, for the first time this year, the US.
The overall ‘commitment measurement’ of individual philanthropists, according to the 2014 BNP Paribas Individual Philanthropy Index, reveals that the US, Europe and Asia are roughly halfway to a philanthropic ideal, while the Middle East seems to be about a third of the way there – a score that is ‘adversely affected by lower points on promotion but may not fully acknowledge the strong cultural heritage of philanthropy in the region’.
The scores are:
• 53.2 US
• 46.3 Europe
• 42.4 Asia
• 29.4 Middle East
An interesting finding is that the Middle East is the region where philanthropists take the longest-term view. More than half of all philanthropic donors are prepared to wait more than 25 years to see the impact of their philanthropic actions, while donors in Asia, the US and Europe expect to see faster results, ie in under 10 years.