Aus-Asia philanthropy trends update
Philanthropy across Australia and Asia is witnessing significant transformations characterized by increased collaboration, innovative approaches, and a growing focus on cross-border giving.
In Australia, the Philanthropy Australia National Conference 2024, held in Adelaide for the first time, has become a focal point for discussing the future of giving. This year’s theme, “Shifting Perspectives, Shifting Practice,” reflects the sector's evolving nature, emphasising the need for adaptability and innovation in philanthropic strategies. The conference highlighted the growing importance of place-based philanthropy, showcasing South Australia’s growing philanthropic community and its contributions to local development through initiatives like Foundation SA.
A key agenda of the conference was the national goal to double philanthropic giving by 2030. This ambitious target underscores a broader trend towards more impactful and strategic philanthropy in Australia. The event also provided a platform for international voices, further aligning Australian philanthropic efforts with global best practices.
Across Asia, philanthropy is also undergoing a significant shift, with an increasing focus on cross-border giving. The Asia Philanthropy Circle (APC) has been instrumental in facilitating regional philanthropy by addressing the barriers that have traditionally hindered such efforts. According to a recent study by APC, unlocking just 2% of GDP in Asia for philanthropic purposes could generate around USD 701 billion, significantly contributing to achieving the Sustainable Development Goals by 2030. However, challenges such as complex regulatory environments and a lack of reliable information on local charities remain obstacles.
The region has seen the emergence of innovative structures like the Asia Community Foundation, which aims to foster transparency and governance in cross-border giving. These developments are crucial as more Asian philanthropists seek to make a regional impact, with countries like Hong Kong, China, and South Korea playing pivotal roles in creating an ecosystem that supports such endeavours.
Moreover, initiatives like the William P. Fuller Fellowships by The Asia Foundation highlight the region’s commitment to peacebuilding and social development through targeted philanthropy. The 2024 cohort of fellows, drawn from countries like Bangladesh and Myanmar, exemplifies the growing trend of using philanthropic resources to address complex social challenges across Asia.
The landscape of philanthropy in Australia and Asia is marked by a drive towards greater collaboration, both within and across borders. While this is not surprising, as the sector continues to evolve, these efforts will likely play a crucial role in addressing some of the most pressing challenges in the region, from local community development to broader regional stability and growth.
