Markets in everything, ultimate feel-good factor edition
If it came to judgment day, you could happily explain how you used your time wisely by spending summers in Saint Tropez, winters in Saint Moritz and Christmas time in Saint Barts. They are all holy places after all, right? But, would this be enough to grant you entry through the beaming pearly gates? Maybe not. You’ve got the jet-set part down to a T but we may need to work a little on polishing your halo…Enter “voluntourism” (a combination of volunteering and vacationing) the hottest trend in travel, which is sweeping the globe, with opportunities everywhere from gorgeous tropical islands to ancient tribal cities.
Dim Sum and Then Some has more, and many links.
Instead of participating in all those do-gooder activities your luxury resprt lines up for you, why not just spend that extra time doing whatever it is you do that lets afford Ritz-Carlton room prices and donating the proceeds. Whenever I see Pro Athletes helping out in the community by working in soup kitchens or whatever I always think "Go the a card show, sign some bats and jerseys instead and donate the proceeds" Am I missing something?
You are not missing anything, except perhaps a small effect on other people's charitable giving: people who have lots more spare time than money may be more keen to devote that to a 'good cause' if the rich and famous do it also.
In any case, charity has more to do with benefiting the giver than the recipient; and if you want to signal you 'care' and happen to bee very rich, devoting your spare time cooking meals for the homeless is more costly to you (and thus sends a stronger signal) compared to sticking with your comparative advantage and donating a large sum of money.