The business of beauty
CAIRO - 16 may 2018: From Botox and fillers to laser facials taking the lead in the fight against old age, to laser hair removal for men and women, the non-invasive cosmetic
treatment industry in the Middle East and Egypt has been booming over the past few years, despite a dwindling purchasing power and tighter budgets across all economic strata.
Beauty comes at an expense; and apparently a rather high one. But the price men and women are willing to pay to remain groomed and youthful looking is good news for a luxury industry that would easily take a hit when cost of living doubles overnight—except it hasn’t.
Globally, the beauty industry is estimated at $444 billion; and in 2017 alone, Egypt has imported LE 3 billion worth of cosmetics; and that doesn’t account for the nonsurgical
From paying over LE 10,000 a session for dermal fillers, or a total of well over LE 20,000 a year for the treatment alone, to paying a total of over LE 6,00 for a plasma facial treatment package, the business of beauty, even in a country undergoing austerity measures like Egypt, is worth millions.
In fact, according to P&S Market Research, the industry of dermal fillers alone in the Middle East is estimated at $34.4 million in 2017 and is expected to generate a revenue of $67.7 million by 2023.
Egypt Today will present over the week a series of articles on the beauty business in Egypt. Follow us at 12pm from Thursday to Sunday to read our full beauty package