Fun Facts: The Great Recession’s Impact on Pets

April 20, 2010

Oh how we love our pets. Even the “Great Recession” did not slow down the money we spend on our cats and dogs and parakeets. In 2007, Americans spent $41.2 billion on pet products and services, according to the American Pet Products Association. This was followed by $43.2 billion in 2008; $45.5 billion in 2009; and an estimated $47.7 billion in 2010. We will spend $3.45 billion alone on just grooming and boarding our pets.

Just to put this spending into perspective–this is more than the Gross Domestic Product (the value of all goods and services produced by a country) of Iceland, Afghanistan, Haiti, and Nicaragua combined.