Forbes projects over $3B in 2023 Giving Tuesday donations

Forbes expects Americans to shell out billions of dollars on this Giving Tuesday, despite rising inflation and extra expenses during the approaching holiday season. The holiday was officially established in 2012 as the first Tuesday after Thanksgiving and is often overshadowed by Black Friday and Cyber Monday. As the name suggests, Giving Tuesday is a designated time for people across the globe to support charities after the first round of holiday shopping. Forbes estimates some 35 million Americans gave $2.7 billion in 2021, showing a nine percent spike from the previous year. The following year saw a 15 percent rise in donations, totaling $3.1 billion. Forbes analysts expect the trend to continue, estimating Americans will donate $3.4 billion this Tuesday.

Do we need another holiday revolving around money? Advocates of Giving Tuesday say it is about giving, not money. They point out that people can give resources like canned goods to a local food bank or unneeded household items to second-hand charity stores. Volunteering at a charity or furthering a cause is also encouraged on Giving Tuesday.

Dig deeper: Listen to WORLD staff members reflect on what God has given them on The World and Everything in It podcast.