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

Almost £20m raised through JustGiving for London Marathon

27 Apr 2015

Runners in yesterday's London Marathon have so far raised nearly £20m through JustGiving, the fundraising...

DEC launches appeal and government gives £5m to Nepal earthquake relief

27 Apr 2015

The government will give £2m to the British Red Cross and make another £3m available for charities and...

Philanthropist donates himself off the list of Britain's wealthiest people

27 Apr 2015

Richard Ross, chair of the Rosetrees Trust, donated 23 per cent of his wealth to charity in 2015, reducing...

CSV changes name to Volunteering Matters

27 Apr 2015

Community Service Volunteers has changed its name to Volunteering Matters and is placing more emphasis...

Macmillan and Marie Curie among charity coalition warning about 1.4m hospital deaths

27 Apr 2015

Seven of the UK's largest health charities have called for the next government to provide funding for...

National Union of Students protest billboards removed by Network Rail for being 'too political'

24 Apr 2015

Advertising billboards set up by the National Union of Students in London Victoria, Sheffield Central...

Charities 'need a complete culture change' for digital transformation, says report

24 Apr 2015

Digital teams need to develop better relationships with colleagues in IT and elsewhere in the organisation...

Comic Relief launches grants programme for digital projects

24 Apr 2015

Comic Relief has launched Tech for Good, a new grants programme to help charities run digital projects...

A third of Britons donate to charity by text message, reveals survey

23 Apr 2015

Over 30 per cent of Britons donate to charity by text message and 61 per cent now donate through online...

Join the discussion

 Twitter button

@CSFinance