Insider Monkey

25 Most Generous Countries in the World

Ramish Cheema
9 min read

In this piece, we will take a look at the 25 most generous countries in the world. If you want to skip our introduction to global charitable spending, then take a look at the 5 Most Generous Countries in the World.

Humanity, aided by a couple of key innovations over the past couple of decades, has rapidly progressed and made advancements that have significantly improved the quality of life. For instance, consider the fact that just a century back, the biggest causes of death in America in 1920 included heart disease, tuberculosis, and pneumonia. However, fast forward to 2023, and you'll see that both pneumonia and tuberculosis now rank much lower due to advances in medical science.

At the same time, global food intake or caloric consumption has also increased steadily over the decades, leading to fewer people going hungry. Similarly, education and transportation in 2023 are also quite different these days, since the internet, computer, and mass airline travel have placed these essentials at anyone's disposal.

Yet, wealth inequality is one of the biggest problems that plagues the world in 2023. The fundamental nature of capitalism, which rewards entrepreneurs and risk takers with wealth and assets also leads to these wealthy folks having orders of magnitude more money than the poorest sections of society. While there is nothing inherently wrong with being wealthy, the painful contrast between the wealthy who spend thousands, if not hundreds of thousands, of dollars on simple items such as handbags and others who are unable to afford basic medicine shows that sometimes, humanity fails to make life living for its weakest.

Charity is one of the ways in which everyone can contribute to making the world a better place and remove the burdens faced by many people. At the same time, the same internet that has made education more accessible worldwide and also provided opportunities for economic growth to those who might have been much worse off otherwise is also allowing charity to redefine itself. Now, courtesy of the internet, anyone with a genuine need and a compelling story to tell can raise funds through crowdfunding  - a luxury that people of the past could not take advantage of.

Like other young sectors, such as biotechnology, the global crowdfunding market is also pegged with some rather impressive growth rates since the best is ahead of them. For instance, a research report from Allied Market Research shows that the global crowdfunding market was worth $1.9 billion in 2021 and it is expected to grow by more than threefold between 2022 and 2031 at a compounded annual growth rate (CAGR) of 14.3%. This will lead to the market being worth $6.8 billion in 2031, and according to the research firm, some of the reasons behind this explosive growth include greater internet usage, more regulations inspiring confidence in crowdfunding, and more people and organizations turning to it due to ease of access to funds.

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