Cosmetic Surgery: Jordan leads $1bn spending
$1bn cosmetic surgery bug bites UK
Friday, 15 Feb 2008 09:59
Britons spent $980 million (£499 million) on cosmetic surgery in 2006 and spending is set to triple by 2011.
Figures from Datamonitor show by 2011 the UK will be spending £1.5 billion on cosmetic surgery.
The global cosmetic surgery bill is set to hit £14.6 billion.
Around a quarter of women said they had considered cosmetic surgery in Europe – with half of all Europeans – men and women - concerned about the signs of aging, and two-thirds worried about their body shape.
However, fewer people are opting to go under the knife, compared to the massive growth in minimally invasive procedures, such as botox injections.
The lower cost and convenience of botox and other quicker procedures have led the growth in spending, and the next step is for people to start looking at home treatments.
"Consumers are looking to premium products with professional quality and efficacy levels to answer their personal care needs," said Matthew Taylor, analyst at Datamonitor and author of the report.
"Time-scarcity and the desire to spend more time at home are driving them to seek products that facilitate pampering and functionally effective personal care treatment off-the-shelf."
A recent poll by the Harley Medical Group found a quarter of all cosmetic surgery is paid for by credit card, while a third of those going under the knife opt for a loan from family or friends.
A further third of people try to save, 11 per cent work overtime, and three per cent took out a personal loan.