The Value of Pets
Pets are often cherished as beloved family members, providing companionship and comfort. The positive impact of pets on human well-being is widely recognised, yet questions about whether these benefits are genuinely causal or merely correlational have persisted. A groundbreaking study by Gmeiner and Gschwandtner (2025) sheds new light on this issue, employing a novel approach to quantify the direct effects of pet ownership on life satisfaction. By placing a monetary value on the benefits pets bring to their owners, the study highlights pets' significant role in improving both physical and emotional health.
New Evidence on the Impact of Pets on Human Well-being
Pets are often considered part of the family, with many owners reporting that their furry companions significantly enhance their quality of life. A growing body of research suggests that pets contribute to both physical and psychological well-being, but determining whether this effect is truly causal or merely a correlation has been challenging. A recent study (Gmeiner, M.W. and Gschwandtner, A., 2025. The value of pets: the quantifiable impact of pets on life satisfaction. Social Indicators Research, pp.1-39) aimed to address this issue by using an innovative approach to estimate the direct impact of pet ownership on human life satisfaction, placing a monetary value on the benefits pets provide.
The Role of Pets in Human Well-being
It’s well-established that animals, particularly pets, can improve human health. Pets offer physical and emotional health benefits, from lowering blood pressure and heart rates to acting as social catalysts. For instance, simply petting a dog or cat can reduce stress and promote relaxation. Dogs, in particular, are known for encouraging exercise through walks, which helps physical health and boosts social interactions with others.
Beyond the physical benefits, pets also provide emotional support. They can reduce feelings of loneliness, especially for people living alone, and are known to combat depression and increase self-esteem. These positive effects are critical, particularly for those with disabilities or mental health challenges, as pets often offer a sense of security and attachment, fulfilling a fundamental human need.
Despite these well-documented benefits, previous studies have struggled to confirm whether the presence of pets directly increases life satisfaction or whether happier, healthier people are simply more likely to own pets. To answer this, the study used a unique instrumental variable approach, which removes potential biases by tracking the impact of looking after a neighbour’s pet or property when they are away. This was found to be strongly correlated with pet ownership and provided a way to isolate the effect of pets on well-being.
Estimating the Monetary Value of Pet Ownership
The study’s findings were striking. While previous methods showed mixed results, often finding minimal effects on life satisfaction, the instrumental approach revealed a significant positive impact. Having a pet was associated with a marked improvement in life satisfaction. By estimating the trade-off between pet companionship and income, the researchers found that owning a pet could be valued at up to £70,000 per year in terms of life satisfaction, a figure comparable to the benefits of regularly meeting friends and family or even being married.
The study also explored how pet type influences personality. It found that cat owners tend to be more open, while dog owners are generally more extroverted, agreeable, and less neurotic. These personality traits are important to consider when assessing the link between pets and well-being, as they contribute independently to life satisfaction. Nevertheless, the results strongly suggest that pets contribute positively to life satisfaction, and their value is comparable to key social relationships.
Conclusions and Implications
This study shows that pets, particularly dogs, improve human well-being in significant and measurable ways. The estimated £70,000 value for pet ownership highlights the profound impact that pets can have on life satisfaction and mental health. As healthcare systems worldwide face increasing mental health challenges, the value of pet ownership as an accessible, low-cost intervention becomes even more apparent.
At BIOME9, we recognise the important connection between pets and their owners' health, mainly through the lens of microbiome testing. By providing insights into our dogs’ microbiomes, we empower pet owners to afford the best possible care for their companions. Investing in our dogs is, in many ways, an investment in ourselves. By ensuring their health, we improve their well-being and contribute to our own. The self-care that goes outward, through caring for our pets, also comes back inward, enriching our lives.
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