WASHINGTON -- Data from the new 2011 Index of Global Philanthropy and Remittances, published by Hudson Institute's Center for Global Prosperity (CGP), confirm that for the first full year of the global recession private giving to the developing world has remained remarkably stable.
The 2011 Index will be launched at a May 12th event focusing on the future of global philanthropy. Four distinguished panelists will share their insights on how philanthropy is transforming government aid, and how new forms of giving are transforming philanthropy.
In 2009 (the latest year for which data are available), private philanthropy and remittances from all developed to developing countries were nearly twice as much as government aid ($227 vs. $120 billion). All private financial flows comprise nearly 80 percent of the developed world's total economic engagement with developing countries. This reflects the growth in private endeavors, through philanthropy, remittances, and capital investment, which are now dominant in developing countries, a change from thirty years ago.
The 2011 Index shows that U.S. philanthropy to developing countries was up slightly to $37.5 billion in 2009, compared to $37.3 billion in 2008. Remittances from the United States to developing countries reached an estimated $90.7 billion in 2009, down from $96.8 billion in 2008. This money, sent from migrants living in developed countries to their families and hometown villages, however, was still the largest U.S. financial flow to the developing world in 2009, exceeding private capital investment of $69.2 billion.
For more information and to view the new Index of Global Philanthropy and Remittances, visit Hudson Institute's CGP on the Web at www.global-prosperity.org.
What:
Hudson Institute panel on "Global Philanthropy: Skating to Where the Puck Is Going to Be"
When:
May 12, 2011, 12:00 2:00 PM
Who:
Byron Johnson, Director of the Institute for Studies of Religion, Baylor University
Susan Raymond, Executive Vice President of Changing Our World, Inc
David Simms, Board Chair, Opportunity International Network
Dennis Whittle, President, Whittle Group and co-founder, GlobalGiving
Carol Adelman (moderator), Director, Hudson Institute's Center for Global Prosperity