It matters how philanthropy in Asia will develop in the coming decade. Despite economic progress having lifted millions out of poverty in the last 20 years, half of Asia’s 1.63 billion people live on incomes of less than $2 a day. Personal wealth is being created in Asia Pacific at unprecedented levels – the number of high net worth individuals grew by 1.6 per cent in 2011 to 3.37 million, overtaking the number of wealthy in either North America or Europe – but wealth alone is no guarantee that the region’s philanthropy is risk-taking and transformative.
File Name: alliance-magazine-march