‘I suspect that many people don’t actually realise how important their pets are for them’
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Coming through the door from a hard day’s work to be greeted by the irrepressible joy of a dog bounding towards you, like they haven’t seen you in years, can be as satisfying as returning to an actual human partner, according to a new study.
Raising a furry companion like a cat or dog can bring you the same psychological benefits as getting married or earning an extra £70,000 a year, researchers at Kent University have found.
Using the “life satisfaction” approach, economists can translate intangible assets like friendship and family into a hypothetical income.
The research conducted on 2,500 British families found that owning a pet was linked to an increase in life satisfaction of 3-4 points on a scale of 1-7, similar to values obtained for meeting with friends and relatives regularly.
Economists have shown that marriage, compared to being single, is worth around £70,000 a year. Separation, on the other hand, is equivalent to around minus £170,000 a year.
Dr Adelina Gschwandtner of the University of Kent, the lead author of the new study, told The Times she was inspired by a paper that put a price tag on human friendship.
“I thought, ‘well, if it’s possible for friends, why not for pets?’”
“I understand why some people might be sceptical [about the £70,000 value],” she said.
“Given that pets are considered by many as best friends and family members, these values appear to be plausible … I also suspect that many people don’t actually realise how important their pets are for them.”
Regular dog walkers are known to have better cardiovascular health, while having a feline at home can lower risk of asthma and allergic rhinitis in children exposed to pet allergens.
Simply stroking our pets can lower the levels of the stress hormone cortisol in our bodies, leading to a calmer approach to life and thus positively impacting our blood pressure and make you less likely to suffer from clinical depression.
Dr Gschwandtner added: “This research answers the question whether overall pet companions are good for us with a resounding ‘Yes’.
“Pets care for us and there is a significant monetary value associated with their companionship. This information can be used for health care practice and policy aiming to increase well-being and life satisfaction of humans involving pets.”
The research follows a 2022 Pets at Home study that found more than one-quarter of people asked preferred to see their pet over their partner after a day at work.
