Aussies to Spend $6.99 Billion to Have Beautiful Bodies for Summer
More Australians will resort to cosmetic surgery to have more beautiful bodies for summer, business information analyst IBISWorld said in a report released on Wednesday.
Spending on perfecting personal appearance is expected to reach $6.99 billion for 2011-12, which is an 18.8 per cent rise from the 2010-11 spending level of $5.88 billion. IBISWorld said the amount boils down to $313 per Australian.
Although the bulk of the spending will go to hairdressing and beauty products and services expected to reach $3.793 billion, growth for this sector would only be 2.3 per cent. In contrast, the analyst forecasts spending for cosmetic procedures would rise by 25 per cent to $560.6 million.
The amount would be besides the 1.4 per cent growth in plastic surgery, expected to cost Aussies $850 million.
Some Australians, however, would prefer to sweat it out in order to have svelte figures rather than undergo plastic surgery and other cosmetic procedures that spending for gyms and fitness training is expected to peak at $1.67 billion.
Karen Dobie, general manager for Australia of IBISWorld, said the jump in spending on cosmetic procedures would be driven by older females who are also fond of weekly rituals such as facials, hair removal and personal training.
"Older Australians have greater financial security and freedom, so they can afford to splash out on a greater range of products and procedures," Ms Dobie said.
She disclosed that for 2011, 62,000 Aussies went through surgical cosmetic procedures and another 68,000 had non-surgical procedures.
For females, the most popular procedures are breast reduction, liposuction, tummy tucks and eyelid surgery, while for men the most popular are reduction of enlarged breasts, liposuction, rhinoplasty, eyelid surgery and cosmetic ear surgery.
Among non-invasive procedures, Ms Dobie said the most popular is Botox, for which Aussies spent more than $225 million in 2011, data from the Australasian College of Cosmetic Surgeons said.
"The popularity of cosmetic procedures is being driven by the convenience of 'lunch hour' treatments, which require little or no downtime. Since many such treatments are not permanent, such as Botox and fillers, more women are willing to give them a go. These are also fewer stigmas associated with this type of treatment than with full-blown plastic surgery," Ms Dobie said in a statement.