Although the economy is still in shambles this holiday season, you wouldn’t know it from looking at the cosmetic-surgery business.
There was a slight dip at the peak of the recession in 2008, but the industry has since then rebounded, even thought most Americans are attempting to save on everything else. Between 2009 and 2010, Americans spent 3.8 percent less on food, 2 percent less on housing, 1.4 percent less on clothes, and 7 percent less on entertainment. However, Americans dipped into their pockets spending 1.3 percent more on breast augmentation, 5.1 percent more on lipo, 8.1 percent more on eyelid surgery, and a 24.4 percent more on butt lifts. While the average American income throughout this period of time fell 0.6 percent to $62,481.
There is speculation that the people who are getting plastic surgery are the ones that can afford it and have more of a disposable income, however those who have been attracted to and paying for surgeries are hardly found in the top 1 percent. About one third of cosmetic-surgery patients make less than $30,000 a year, and about 70 percent make less than $60,000, according to a 2009 study by the American Society for Aesthetic Plastic Surgery. A lot of the individuals who can’t afford plastic surgery, finance it instead and there are plenty of loan companies that will help you to alter your body such as: General Electric’s CareCredit who works with more than 150,000 doctors around the country and then proceeds to charge an interest rate of up to 26.99 percent.