Editorial | Hong Kong always ready to answer charity call
Despite the economic downturn and its effect on giving, the Hong Kong public continues to be generous when it comes to the needy
Hong Kong has built a fine reputation for compassion and generosity. But the readiness to give may be dampened by an economic downturn, as reflected in the shrinking amount of money collected by charity organisations.
The non-profit Community Chest of Hong Kong received HK$220.3 million (US$28.4 million) in contributions for the year to March 31, according to its annual report. The amount represents a 23 per cent drop from a year ago, and a 43 per cent slide from before the Covid-19 pandemic in 2019.
The body, which accepts donations to support various social welfare causes, had to dip into its reserves to cover a deficit.
The Community Chest described fundraising over the past two years as very challenging, saying the tough economic environment had resulted in cutbacks in corporate and social responsibility spending. Indeed, the reductions are to be expected, considering the slower-than-expected pace of recovery.
It may even come as a relief that charity remains a relatively resilient sector, with contributions still hitting hundreds of millions of dollars despite the gloom.
