GCC investors to fuel growth in philanthropy

The amount of capital spent on charitable causes and philanthropy within the GCC is expected to exceed US$210 billion thanks to high-net-worth investors and family offices in the region.

This is the finding from a report published by the University of Cambridge.

It states that HNWIs and family offices in the region are increasingly focused on social and environmental impact.

The report, titled  ‘Giving in the Gulf Cooperation Council’, puts this down to a generational shift in the family businesses which make up the vast majority of the region’s private sector.

“As Millenial and Generation Z family members emerge to take the helm of family businesses and philanthropic activities, their aspirations will shape the evolution of the sector in the coming years,” said the report.

©2022 funds global mena

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