IRELAND puts more time into philanthropy than other countries, despite its economic crisis, according to research published today.
Twenty per cent of high net worth individuals in Ireland spend at least five hours a week doing charity work, more than anywhere else in the world. The research also shows that charitable spending is likely to increase after retirement.
As well as committing their time, 30 per cent of wealthy Irish individuals consider philanthropy a spending priority. The report suggests that personal connections to communities and causes are the driving force behind their contributions.
Two thousand high net worth individuals around the world were surveyed by Barclays Wealth, giving a snapshot of how the rich are giving. The report used both money and time as indicators and is the first of its kind.
The findings underline the concept that philanthropy is universal, with nearly a quarter of those surveyed globally saying it was in their top spending priorities.
Emma Turner, director of client philanthropy at Barclays Wealth commented: “This report provides a strong sense of how the global community is really engaging with philanthropy – above and beyond simply donating money.”
Other leading countries in philanthropy include India, South Africa and the US