Saturday, May 15, 2010

American versus Indian philanthropy

Bain & Co reports that, in spite of the number of the super-wealthy in these countries, charitable giving in India and China is just 0.6% and 0.1% of GDP respectively - of which only about 10% comes from individuals, with the rest provided by governments and foreign organizations.

In other words, the super-rich in India contribute only 0.06% of GDP as philanthropy.

Compared to China, where the super-rich give about six times less (only 0.01% of GDP), India looks very good.

But the world's greatest private giving comes from the U.S., where it is 2.2% of GDP. And nearly three-fourths, or 1.155% of GDP, is given by individuals!

In other words, comparatively, American individuals give away nearly 20 times more than we Indians give. Sphere: Related Content

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