Australians are more generous now than in previous years, with an 8 per cent increase in donations in the year to February 2014, according to the NAB Charitable Giving Index.
Donations have increased by 19 per cent since December 2010 despite uncertain economic conditions and anxiety about the cost of living.
The 8 per cent growth rate is a substantial improvement on the 3.3 per cent growth rate seen the previous year.
People in the ACT gave the most where the average annual donation was $55 higher than the national average.
Weston and Ainslie in the ACT joined Maleny in Queensland as the most generous postcodes in Australia, giving 0.27% of their annual income to charity.
Nationally, donations from the 65+ age group grew the most, increasing 10.8% whilst donation from the 15 to 24 age group grew by 6.2%.
NAB Chief Economist, Alan Oster: “The generosity of Australians should be applauded. Australians are giving more to charity in spite of below trend economic growth, rising joblessness and elevated anxiety around the cost of living.
This generosity isn’t a passing trend. This is the fourth NAB Charitable Giving Index we have released and each time, donations have increased.
Typhoon Haiyan in the Philippines and the deepening refugee crisis in Syria have had a big impact on people’s giving preferences with Humanitarian Services attracting the most donations from all age groups.”
Causes Australians are most passionate about are:
· Humanitarian Services charities (32.7 per cent of all donations)
· Medical Research & Services charities (11.5 per cent of all donations)
· Health & Disability charities (12.1 per cent of all donations)
· Community Service & Children/Family charities (11 per cent of all donations)
· Cancer charities (9.6 per cent of all donations)
· Animals & Environment (8.1 per cent of all donations)
Paula Benson, NAB General Manager Corporate Responsibility: “The not-for-profit sector plays a vital role in helping to shape opportunities for our communities in Australia and overseas.
In producing the NAB Charitable Giving Index we hope to support these efforts by providing invaluable insights to help the community sector succeed and prosper. Not only does the Index help our community partners and not for profit customers understand their own audiences and identify potential opportunities, it also allows them to focus on their core activities.”
See the full Charitable Giving Index – February 2014 at NAB Market & Insights.