Wealthy individuals 'continue to donate to charity'
Charities
14th July 2009
Wealthy individuals in both the UK and the US are continuing to donate to charities during the economic downturn, new figures have revealed.
According to data from Barclays Wealth, three-quarters (75 per cent) of respondents to a survey said they had not reduced their contributions within the past 18 months.
The poll of 500 high-net-worth investors also found that one in four (26 per cent) had actually increased the amount they gave to charity despite the economic recession, while many had reduced their spending on eating out, luxury goods and holidays.
Emma Turner, head of client philantropy at Barclays Wealth, commented that the recession and its effects had created a "bullish mood" in investors who "not only carry on giving, but make an even bigger impact in the future", news that may be of interest to charity insurance customers.
Barclays dubbed this phenomenon "the rise of the Go Giver" and suggested that a "new breed" of philanthropist is emerging, who will become increasingly important as governments become constrained by high levels of debt.
In related news, the Treasury recently announced that it will not be compensating charities affected by the collapse of Icelandic banks.
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