No home, job, or kids, but with millions of dogs: the pet boom among millennials

More and more pets are sharing a roof with us. The number of dogs and cats as pets has grown in recent decades and not even the pandemic seems to have slowed this trend. The cause of this pet boom? We millennials. The economic and precarious situation in many countries has caused this generation to end up delaying plans such as having a child or buying a house. Now we settle for having a dog or a cat.

The continuous confinements, the limit of meetings have made the animals become our new best friends. And people continue to adopt pets in the midst of the coronavirus crisis. According to data published by the Royal Canine Society, during confinement, we experienced a 50% increase in the demand for dogs in our country, which meant that some 5,000 dogs were adopted in order to entertain children, accompany the elderly, fill gaps or create family ties.

Millennial priority. The American Pet Products Association reports that this 18- to 35-year-old generation represents 35% of all people who own one in the US. The boomers greater -generation 50 years represents 32% of the total pet owners. The figures are surprising because the millennial generation only represents 22% of the total population. And they have ended up finding comfort and stability in these new "furry children" after experiencing a series of economic setbacks over the past decade.

Why? Pets are not exactly cheap, but they are more than a child. And millennials aren't exactly rich. We own less than 5% of the wealth, we began our adult life in the middle of the economic crash of 2008 and now, in what should be the best moment of our career and years of family construction, we have been affected by a global pandemic. Instability is part of the equation. And pets make us happy in the meantime.

How much they cost? The average cost required by a pet is around € 1,200 per year. In total, an average Spaniard has to allocate 9% of his income to the city and to keep his animal. We spend approximately € 126 per month on food, only € 56 more than what we will have to invest in our dog or cat. Of course, the economic burden varies depending on the animal and its size.

According to the study on pets carried out by Tienda Animal, only in veterinary assistance, we lose 352.42 €, mainly destined for consultations and medicines, as well as vaccines and deworming. To this amount must be added the € 839.76 for food, 65% of the total. The truth is that 1,200 euros are not a very low figure, so you have to think better of it before adopting a pet.

Radical growth. The number of pets has skyrocketed in recent years. Today the dog is the favorite pet, and its population has skyrocketed to over 900 million. It is so popular that some societies already count more dogs than children. In the United States alone there are more than 77 million dogs and 54 million cats. Millennials are particularly happy with them: at least 70% have one or want to have one. 50% already have one, a percentage equal in Europe.

In total, the number of animals cared for by Spaniards ranges between 13 million and 22 million (93% are dogs, 6% cats, and 1% other pets). Figures unthinkable only a few decades ago.

Family members. The new generations have made pets another member of the household. So obsessed are they that they have begun to dress them as if they were people. And they have more and more rights. A study revealed a few years ago that the volume of inheritances and funds dedicated to dogs or cats has multiplied in recent years. And yes, many of them inherit real fortunes. Even the European Convention on the protection of companion animals in the EU already regulates their lives and prevents mistreatment or attacks against their appearance.

And it is that even a New York data traffic company, mParticle, guaranteed two weeks of paid leave for a newly adopted cat or dog employees as if it were having a child. Pyme Zebra granted an annual bonus of more than 250 euros for keeping a rescued dog or cat as part of a larger package of family benefits that the employee can take advantage of.

In the end, pets have become more than just pretty animals that we feed and care for. They are neither stuffed animals nor entertainment. They represent something, and perhaps that is the only stable thing in our lives. And among other things, they are an escape route from loneliness, the great common denominator of the new millennial era.