INTHEBLACK August 2025 - Magazine - Page 55
C L O S I N G T H E B O O KS
The ROI on
pet ownership
What kind of return are Australians getting on their pet investment?
Words Sonakshi Babbar
On the balance sheet, a pet might seem like
a cute asset with no measurable return.
However, with nearly seven million Australian
households sharing their lives with at least
one animal, it is clear the rewards go well
beyond money.
Australians spend over A$33 billion a year
on their pets according to Animal Medicines
Australia. On average, that is A$4247 annually
for dogs and A$2718 for cats, covering
everything from food and grooming to training,
vet visits and vaccinations.
This substantial spending means pet owners
often dedicate around 10 per cent of their
take-home pay to their animals — a significant
portion of the household budget. Yet, despite
these costs, the true rewards of pet
ownership lie in the emotional and social
benefits they bring.
The most common reason people bring
pets into their homes is companionship. For
those living alone or going through major life
changes, having a pet can ease feelings of
loneliness and social isolation. Pets offer
constant company, a sense of purpose and
everyday moments of connection.
Pets have been found to reduce symptoms
of anxiety, depression and post-traumatic stress.
One study, published in quality-of-life
measurement journal Social Indicators Research,
found that the mental health benefits of pet
ownership were comparable to those of close
human relationships and, in terms of wellbeing,
are worth around A$145,000 a year — the same
amount as marriage.
The benefits go beyond the emotional.
A Purina poll of more than 1000 dog owners
showed that 79 per cent agreed that owning
a dog encouraged them to be more active
outdoors, a habit linked to improved heart
health and a lower risk of stroke.
Pets can also help people develop important
life skills and strengthen social connections.
Research from the University of Western
Australia found pet owners are more likely
to know their neighbours and receive social
support through pet-related interactions.
A study also revealed that 70 per cent of dog
owners believe their pets have made them
more patient, while many also reported gains
in empathy (41 per cent), stamina (36 per cent)
and resilience (26 per cent).
Owning a pet is not without its
challenges. 79 per cent of owners report
facing at least some difficulty, but for most,
the emotional, physical and social benefits
of sharing life with an animal companion
make it more than worthwhile.
READ
an article about why
sustainable pet food
is on the rise
READ
an article on the
lab-grown meat
debate
intheblack.cpaaustralia.com.au 55
