Isn't it time the Celtic Tiger became the Philanthropic Tiger, asks Kingsley Aikins.
With a Google search for "philanthropy" now returning more than 15 million results, it is clear that voluntary giving to a charitable cause is now firmly on the global agenda and an ever more important source of funding for worthy activity across the spectrum of human activity.
In Ireland, there has long been a culture of people sharing and giving in formal and informal ways to those with less. Even in 1985, when our country was in the economic doldrums and emigration was a near norm for school- and college-leavers, we still dug deep collectively to donate very generously to the Live Aid fundraising effort for famine relief in Africa.
Twenty-one years on, Ireland is now in radically different shape economically and we were forcefully reminded of this recently when Bank of Ireland private banking published a research report estimating our average wealth at almost €150,000 per person.
The report also indicates there are some 30,000 millionaires in Ireland, even when the value of principal homes is excluded. More than 2,700 of these now have a personal net worth of €5 million-€30 million, while a further 300 are worth more than €30 million. There can then be no doubting the tremendous wealth in Ireland today.
Importantly for future planning, the report also adopts an upbeat tone about the prospects of Ireland sustaining the new wealth created by entrepreneurial flair, measured risk taking, astute investment and sound economic policy in the last decade.
Indeed, as well as telling us that net wealth grew by 350 per cent in the last 10 years, the report's authors expect that net assets will grow to more than €1.2 trillion by 2015, an increase of 80 per cent in the coming decade.
Personal disposable income in Ireland has doubled over the past 10 years, and it is forecast to double again over the next decade.
As Ireland's wealth matures and we become a country more at ease with affluence, minds will rightly turn to the issue of what legacy we pass on individually and collectively to the generations that come after us.
The benefits of philanthropy to society are pretty easily grasped but an area that I want to concentrate on here is the benefits that accrue to donor companies and individuals.
It is my view that a unique opportunity now exists for the Celtic Tiger to become a Philanthropic Tiger, as many of the conditions are in place for Ireland to enter a golden era of generosity and become one of the leading philanthropic countries in the world over the coming years.
If we are to maximise the long-term benefits from the current unprecedented period of prosperity then it is essential that we harness the generosity of the many very wealthy individuals living and working in Ireland. With their support, each and every one of the 4.2 million-plus people now living in this country will benefit - not least those who give.
The benefits of philanthropy and altruism don't exclusively fall to those in receipt of generous support. Rather, it has been our experience time and again with the Ireland Funds that the donors also draw enormous reward from their giving.
During my own time as executive director of the American Ireland Fund and founding director of the Australian Ireland Fund and the Ireland Fund of New Zealand, I was always impressed by the great work being done by the beneficiary organisations and projects supported by the funds.
What struck me even more strongly, however, was the tremendous generosity shown with their time, resources and expertise by those who helped the Ireland Funds raise more than $300 million (€235 million) during the last 30 years for 1,200 organisations and projects throughout this island.
Private donations, bequests and contributions have been the backbone of our funds' work since their establishment and have helped accelerate social investment in communities across Ireland.
Indeed, it is a feature of the sort of low-tax economy that Ireland has become that the traditional reliance solely on Exchequer funding for projects that benefit society is out-dated.
Rather, we must look at new and imaginative ways of partnering those who face the challenge - albeit a welcome one - of managing wealth with those promoting tremendously beneficial projects that require funding.
An example of the type of youth-centred project that has benefited from the Ireland Funds is "Building Bridges, Breaking Borders" - a youth leadership programme focused on giving influential young people from Ireland a voice in society.
These teenagers come from diverse backgrounds and geographical areas and each has earned the right to participate by showing leadership capacity within their local communities.
The programme helps them to communicate more effectively and learn the skills necessary to contribute to peace and reconciliation, as well as to other youth participation initiatives.
It is this type of future-building that stands the greatest prospect of helping ensure that the Ireland of tomorrow is a caring country that is comfortable with its standing and where wealth is measured in more ways than simple euro and cent.
Our parents, grandparents and great-grandparents could scarcely have dreamt of the opportunities that now exist to shape a truly great European country that is comfortable with the past, enjoying the present and confident about the future. We owe it to these past generations, as well as those yet to come, to provide generous support for carefully evaluated and targeted initiatives.
The country where the Philanthropic Tiger roars and roams will be one we can all be exceptionally proud of and the current generation will have passed on the baton of success to those who will lead Ireland forward.
Kingsley Aikins is president and chief executive of the Worldwide Ireland Funds and he will speak in the Waterford Institute of Technology at 3pm next Friday.