Having a cat or dog as a companion can enhance life satisfaction and overall wellbeing just as much as strong relationships with family and friends, according to new research led by the University of Kent.
Economics researchers used the ‘life satisfaction approach’—a method involving regression analysis to estimate the monetary value of various life experiences—to quantify the impact of pet ownership. The findings from The University of Kent revealed that the companionship of a cat or dog can be worth up to £70,000 per year in terms of life satisfaction. To put this into perspective, previous studies using this method have shown that being married, compared to being single, has a similar value in life satisfaction for the average person in Great Britain.
While pets have long been associated with physical and mental health benefits, their direct effect on life satisfaction had not been clearly quantified until now. Published in Social Indicators Research, the University of Kent study also explored the personality traits of pet owners. It found that cat owners tend to be more open, while dog owners are generally more extroverted, agreeable, and less neurotic. In general, pet owners scored higher on openness, conscientiousness, and extroversion compared to those without pets.
The study was led by Dr. Adelina Gschwandtner from the University of Kent’s School of Economics, Politics and International Relations, in collaboration with Dr. Michael Gmeiner from the London School of Economics (LSE).
Dr. Gschwandtner of The University of Kent stated: “This research gives a clear answer to the question of whether pets are good for us—with a resounding ‘yes’. Not only do pets offer emotional support, but there is also a measurable monetary value to their companionship. These insights can inform healthcare practices and policies aimed at enhancing human wellbeing through pet ownership.”
Access The Full University of Kent Research
The full study from The University of Kent, titled The Value of Pets: The Quantifiable Impact of Pets on Life Satisfaction, is published in Social Indicators Research. DOI: 10.1007/s11205-025-03574-1
Research Excellence – About The University of Kent
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