Global philanthropic giving amongst HNWIs with over $5m in investable assets has reduced in 2016, according to the latest findings from BNP Paribas and Forbes Insights.

The report, 2016 BNP Paribas Individual Philanthropy Index, indicates that philanthropic giving amongst wealthy individuals in the USA, Europe and Asia has reduced over the past year. The USA, which currently leads the report’s "current giving" table, reduced its index score from 20.6(2015) to 20.0(2016).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Kasia Moreno, report author, Forbes Insight, suggested that this reduction could be attributed to recent volatile macroeconomic conditions, rather than a lack of interest in charitable giving.

bnpphil

Moreno also suggested that giving in the Middle East had made a "big leap forward", with a marked increase on previous years. She added that the Middle Eastern approach to philanthropy was different to other regions, as individuals mostly gave to charitable causes through religious obligations, and thus "did not see giving as philanthropy".

The report, which is in its fourth edition and is derived from a survey of 457 HNWIs, also profiled the key motivations of philanthropists in 2016. Health was the top cause that philanthropists wanted to support, with the exception of Asian investors who preferred to back environmental causes. The report said that the main outcome that philanthropists seek to achieve is a sustainable programme/initiative that provides ongoing assistance, according to 70% of respondents.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The report also revealed that, on average, HNWIs wanted to leave a third of their fortune to charity, with the wealthy in the United States wanting to leave 38% as opposed to 13% in the Middle East.

Vincente Lecomte, Co-CEO of BNP Paribas Wealth Management, said that there is a trend present amongst HNWIs for socially responsible investment (SRI), alongside philanthropy. He said that there is $7bn worth of investments in SRI amongst BNP Paribas private banking clients. He also said that SRI has grown by 50% per annum since 2010.