March 9, 2008 | Read Time: 1 minute
Philanthropy in Latin America is poised to grow, writes Susan Raymond, a senior managing director of Changing Our World, on the onPhilanthropy blog.
Economic stability is fueling the expansion of giving by individuals, she says, particularly among the continent’s richest people. Between 2004 and 2006, the fortunes of Latin America’s wealthiest Individuals grew from $3.7-trillion to $5.1-trillion, an increase of 38 percent.
Corporate philanthropy, too, is also on the rise, says Ms. Raymond. More businesses are developing large-scale philanthropic budgets. Attendance at the Inter-American Development Bank’s annual conference for Latin American business leaders on topics of social engagement has tripled since 2002.
What’s more, prominent Latin American artists and writers such as Shakira and Gabriel Garcia Marquez have helped generate enthusiasm for philanthropy.
What do you think? Do you see philanthropy growing in South and Central America?
