Pet Power

A new report shows that our four-legged friends are helping the national economy. Move over, Julia and Tony… make Moggie prime minister!

In a post-GFC world, especially at a time when post-election governmental uncertainty is gripping the nation, anything that bolsters the economy is great news. But a big growth area has been under our feet (quite literally, in some cases) the whole time! According to a new report compiled by the Australian Companion Animal Council (ACAC), Australia’s pets and pet-care industry are proof that our national love of our furry companions is boosting a lot more than our mood – it’s helping to boost the economy!

The report shows that there are now 3.41 million pet dogs who call Australia home (which means 36 per cent of Aussie households own a dog), along with and 2.35 million cats (or 23 per cent of households). These figures give Australia one of the highest rates of pet ownership in the world, although we are still significantly behind the US, where 40 per cent of households own a dog and 33 per cent own a cat.

Economic boosters
Dr Kersti Seksel, president of the Australian Companion Animal Council, suggests that growth in the pet industry is good news for the economy:
‘It is also interesting to note that although the population of cats and dogs is relatively static, the amount of money we choose to spend on our pets is increasing.  In 2009, Australians spent $6.02 billion on pets, pet care products and services; up from $4.62 billion in 2005.’

Obviously, this increased expenditure is good for jobs, with Dr Seksel pointing out that ‘employment across the pet care industry is increasing to reflect our love of pets – up from 44,700 people in 2005 to 47,627 people in 2009.’

The interesting thing is that despite the increased expenditure, the report found that it was still relatively inexpensive to own a pet.
‘In 2009, dog owners spent $1,056 per year on their pet, including food, products and services and veterinary care. This is just under $3 a day. Cats require even less of a financial commitment.  The average annual expenditure per cat is $602, which is just over $1.50 a day,’ says Dr Seksel.

With it looking increasingly likely that the next federal election will be sooner rather than later, perhaps pollies will be out kissing kittens rather than babies as the campaign heats up!

Images: catfacts.org, free-computer-wallpapers.com