Brits Make Christmas Generous with Intended Enhanced Giving
WRS Insurance Brokers, a charity insurance specialist, has published new research on charitable giving during the 2024 festive season. The findings shed light on the charitable giving patterns of UK households, particularly those facing financial difficulties.
Despite a significant portion of the UK population facing financial difficulties, the research indicates that almost two-in-five households (39%) plan to give back during the current month. Even more striking, 74% of respondents plan to donate items to charity during the festive season.
The research further reveals that a considerable number of households in financial difficulties are planning to donate to charity. In fact, 52% of respondents intend to volunteer their time for charity during the festive season, and 29% will share donation opportunities on social media.
The continued charitable giving in the UK despite ongoing cost-of-living challenges is primarily driven by several factors. Increased tax relief for charities and donors has made donations more financially attractive, encouraging those who can afford to give to contribute more generously. Donors who remain able to give are determined to do more, even as the overall number of donors slightly decreases due to economic pressures.
Charities play a crucial societal role, especially for marginalized and disadvantaged communities, which motivates public generosity despite financial strain. The charity sector's demonstrated impact and economic significance—spending nearly £96 billion in 2023 to deliver charitable purposes and increasing spending by almost 10% to meet rising needs—reinforces public support.
Corporate donations contribute significantly, with nearly half of larger charities reporting corporate donor support, supplementing individual giving. Volunteer involvement remains high, amplifying charities’ capacity to deliver impact, which may encourage continued donations from those who see value in effective charitable action.
Gungor Baykan, head of broking and operations at WRS Insurance Brokers, stated that the research shows people's generosity and commitment to giving at this time of year remains strong. The research also discovered that Brits are stepping up in other ways, such as volunteering their time and donating items, in addition to giving money to charity during the festive season.
Interestingly, only 6% of respondents are planning to reduce their donations to charity, while over 50% of respondents are likely to support community charities this festive season. The full research from WRS Insurance Brokers, including the findings on charitable giving during the 2024 festive season, can be accessed here.
In conclusion, the resilience of charitable giving amid financial pressures caused by cost-of-living challenges in the UK is underpinned by a combination of tax incentives, the critical social role of charities, the resolve of committed donors, and diverse sources of support.
Despite the financial difficulties faced by many UK households, the research indicates that nearly half (49%) of those planning to donate to charity during the festive season are in a financial struggle themselves. Moreover, 55% of respondents, who are struggling financially, are considering delving into personal-finance management to prioritize charitable donations.
