 |
| Amal Alhajiri - Venus HD Group |
Amal Alhajiri businesswoman, said that there are basic axes for success in the world of business, as things must come as a result of practical experiences and expertise on the ground, no matter how small or modest they are. In all cases, they become more logical for the mind so that it can comprehend and accept them, and begin to translate them easily into clear files with acceptable data and evidence.
Investing in cosmetics and cosmetic surgeries is considered one of the most successful and profitable types of economy around the world. Despite the economic crises that global commercial markets go through from time to time, this field has finally achieved huge profits over the past 20 years, with an annual growth rate exceeding 4%. Global cosmetics sales in 2021 amounted to about $500 billion, and are expected to reach $511.4 billion in 2022, and $860 billion in 2025. Despite the repercussions of the Corona pandemic and lockdown restrictions, according to Forbes magazine, the top 10 billionaires in the cosmetics industry managed to reap profits estimated at approximately $135 billion in 2020. At the top of the list of ten billionaires was Bernard Arnault, the third richest person in the world, who added more than $86 billion to his wealth over the past year, and Frenchwoman Francoise Bettencourt Meyers, the richest woman in the world, in addition to members of the family Lauder, who made their fortunes from the company "Estée Lauder Companies" and the total wealth of the ten richest people grew to 292 billion by the end of March 2021, compared to 156.8 billion dollars in April 2020.
According to the British newspaper "Daily Mail", the cosmetics industry is an economic model to be emulated, as its annual growth rate exceeded 4%, and during the past four years, the volume of global sales of cosmetics amounted to 170 billion dollars, 40 billion of which were divided in the Americas, 60 billion in Europe, 60 billion in each of Australia and Asia, and 10 billion in Africa.
This industry has also recorded imaginary numbers in recent years, as the volume of investment in skin care products around the world was estimated at 180 billion dollars, according to a report issued by the British "Superdrug" cosmetics institution. According to a report issued by the consulting firm McKinsey & Company, global beauty sales reached $500 billion this year, and its companies employ millions directly or indirectly. It expects beauty and personal care product revenues to reach $511.4 billion during the current year 2022, and the market will witness an annual growth of about 4.75%, with sales approaching $860 billion, during the period from 2021 to 2025.
In the same context, a report issued by the International Society of Aesthetic Plastic Surgery indicated that the total number of cosmetic surgeries performed worldwide amounted to approximately 12 million operations during 2019. It also monitored more than 14 million non-surgical cosmetic procedures in the same year. Studies prepared by cosmetic experts expect the annual global spending on cosmetic medicine to double from $8.5 billion to $16 billion by 2026. According to the British newspaper "Daily Mail", Botox was the biggest money grabber, as Americans spent $2.95 billion on injections that paralyze facial muscles to smooth wrinkles.
The success achieved by this trade also prompted the American Central Intelligence Agency "CIA" to establish a company to invest in cosmetics, and it achieved great success and profits. In the Arab world, a study by the research company Euromonitor International indicated that the market for cosmetics and beauty care products in the Arab world has increased by 300% in the past three years, making sales of cosmetics the highest, especially perfumes.
Globally, the average value of cosmetics purchases per person is estimated at $334, and women in the Gulf countries lead the world in spending on cosmetics, spending about $7 billion annually on cosmetics, the highest in the world, and witnessing high growth every year.
The Saudi market is the highest spending market among the Gulf countries, as the Euromonitor Pharmaceuticals Foundation estimated the volume of Saudi women's spending on all types of cosmetics at $1.5 billion annually. Riyadh is also witnessing increasing growth in cosmetic surgeries, and experts expect it to reach about $150 million annually by 2026. In the United Arab Emirates, the latest statistics indicate that annual spending on cosmetic surgeries has reached 500 million dirhams, as cosmetic spending in the Emirates increases annually between 15% and 17%, and Kuwait is witnessing increasing demand for cosmetic surgeries, accounting for 30% of the total cosmetic surgeries in the Gulf countries.
While Egypt, according to the latest statistics, has fallen from first place in the Arab world in the number of cosmetic surgeries to second place, and there are about 400 surgeons specialized in this field. The revenues from cosmetic surgeries in Lebanon constitute 15% of the total annual tourism spending in the country; as some studies indicate that a large number of cosmetic surgeries are performed there annually by various Arab nationalities, but market studies expect a decline in the volume of spending in Lebanon on cosmetic surgeries in the coming period, due to the economic crisis it is going through.
Comments