The United States remains the leader globally in personal philanthropy followed by Europe and Asia, with the Middle East achieving the sharpest increase in philanthropic giving, according to the fourth annual BNP Paribas Individual Philanthropy Index by Forbes Insights.
The survey revealed that philanthropists in the US were more influenced by personal experience with the cause at hand, instead of sense of duty, desire to give back or faith.
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Bank of the West senior executive vice president and head of the wealth management group Pierre Ramadier said: "Philanthropy and charitable giving are consistently ranked as one of the most important aspects of a client’s legacy. In the United States, almost 40 percent of philanthropists plan to leave at least a third of their wealth to charity, an encouraging sign that many Americans are driven to leave the world a better place than it was when they arrived."
Europe was followed by Asia, while the Middle East recorded the sharpest rise in philanthropy.
In case of nearly all countries, health emerged as the top area of philanthropic giving, while for Asia it was environment.
American philanthropists were more likely to donate to local causes, and 48% of them believed more in collaborating with other individual philanthropists instead of forming alliances with philanthropic organisations which is more seen in Europe and Asia.
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By GlobalDataSeventy percent of the philanthropists said that they build a sustainable program, create or finance an organisation that offers ongoing assistance.
