Share

CAF predicts £146bn worldwide charitable giving by 2030

CAF predicts £146bn worldwide charitable giving by 2030
News

CAF predicts £146bn worldwide charitable giving by 2030

Finance | Jonathan Last | 27 Feb 2013

The growth of the global middle class could lead to nearly £150bn of additional worldwide charitable giving over the next 17 years, the Charities Aid Foundation claims in a new report.

CAF’s Future World Giving report was launched yesterday at the House of Commons, and predicts that if people in rapidly developing economies give as they do now the UK, giving could rise to $224bn a year (£146bn) by 2030.

The sum comes from OECD data which projects that the  middle class globally will grow from 1.8 billion in 2009 to 4.9 billion people in 2030, a rise of 165 per cent, with their spending power set to grow by 161 per cent over the same period.

And CAF’s report says that if the world's middle classes match the average 0.4 per cent of spending donated to charity by people in the UK, the sum would be enough to wipe out the world’s extreme poverty. Seventy per cent of this growth is anticipated to arise outside Europe and North America, known as the traditional world centres of giving.

'Ultra-rich' on the rise


In addition, the report says that the world’s ultra-rich is also on the rise. The number of people worth $100m or more is predicted to increase from 63,000 in 2011 to 86,000 by 2016.  

The report is part of a CAF project to analyse how governments can encourage this level of charitable giving, specifically by developing incentives to donate and building trust in charities by setting standards of transparency.

John Low, chief executive of CAF, pointed to how fast developing economies such as China, India and Brazil are growing.

“The massive expansion of wealth that will come from this social change means there will be vast untapped potential for people to contribute to causes in their countries and across the globe,” he said. “If the new middle classes give to charity like we do in the UK, the potential to transform the world for the better will be vast.

“Governments and civil society across the world need to harness these powerful social trends. We need to prepare for these changes now to make sure that people can support the causes they care about with confidence and ease".

In November 2012, CAF reported an increase in giving from major donors in the previous financial year, rising by 20 per cent between 2010/11 and the last financial year to reach £122.9m. 

However, in CAF’s World Giving Index report, which it released in December, Low had warned of a ‘double-dip’ in worldwide giving. He called at the time on politicians, businesspeople and individuals to “take action now to support charities and enable them to carry on providing vital services”.

Comments

[Cancel] | Reply to:

Close »

Community Standards

The civilsociety.co.uk community and comments board is intended as a platform for informed and civilised debate.

We hope to encourage a broad range of views, however, there are standards that we expect commentators to uphold. We reserve the right to delete or amend any comments that do not adhere to these standards.

We welcome:

  • Robust but respectful debate
  • Strongly held opinions
  • Intelligent relevant discussion
  • The sharing of relevant experiences
  • New participants

We will not publish:

  • Rude, threatening, offensive, obscene or abusive language, or links to such material
  • Links to commercial organisations or spam postings. The comments board is not an advertising platform
  • The posting of contact details for yourself or others
  • Comments intended for malicious purpose or mindless abuse
  • Comments purporting to be from another person or organisation under false pretences
  • Gratuitous criticism, commentary or self-promotion
  • Any material which breaches copyright or privacy laws, or could be considered libellous
  • The use of the comments board for the pursuit or extension of personal disputes

Be aware:

  • Views expressed on the comments board are left at users’ discretion and are in no way views held or supported by Civil Society Media
  • Comments left by others may not be accurate, do not rely on them as fact
  • You may be misunderstood - sarcasm and humour can easily be taken out of context, try to be clear

Please:

  • Enjoy the opportunity to express your opinion and respect the right of others to express theirs
  • Confine your remarks to issues rather than personalities

Together we can keep our community a polite, respectful and intelligent platform for discussion.

Free eNews

Syria and Haiyan appeals boost Oxfam income by 6 per cent

30 Jul 2014

Oxfam’s total income rose by more than £21m to £389m in the year to March 2014, according to its annual...

PTA-UK: Big Society Network chief was confident of funding

28 Jul 2014

PTA-UK has revealed that it turned down an invitation from Big Society Network to be a partner in its...

FRSB rejects complaint against the RSPB

25 Jul 2014

The Fundraising Standards Board has thrown out a complaint that the RSPB’s Abernethy Forest appeal made...

Commission investigates charity over concerns it was used for private benefit

29 Jul 2014

The Charity Commission has opened a statutory inquiry into grant-giver the Catalyst Trust over concerns...

PTA-UK: Big Society Network chief was confident of funding

28 Jul 2014

PTA-UK has revealed that it turned down an invitation from Big Society Network to be a partner in its...

Big Society Network chair’s company gave £64k to Conservative Party

28 Jul 2014

A company owned by the chair of Big Society Network donated services totalling more than £54,000 to the...

Online donations forms are too long and cost charities donations, finds report

28 Jul 2014

One third of leading charity websites require potential donors to complete more than 20 actions before...

Greenpeace video removed from YouTube following copyright claim

14 Jul 2014

A campaign video by Greenpeace against Lego’s relationship with Shell has been subject to a copyright...

Oxfam advert removed after appearing before extremist videos

10 Jul 2014

Oxfam has removed one of its adverts from YouTube after it was shown on channels showing content from...

Join the discussion

 Twitter button

@CSFinance