Dog moms dominate: money talks more than biology ticks

In recent years, more and more people are opting to have pets instead of children, driven by the increasing cost of raising a child. Journalist Charmain Naidoo, who chose not to have children, is now realizing the financial implications of this decision. She often watches her friends coo over their grandchildren and feels a sense of sadness at the thought of not being surrounded by family and loved ones in her later years.

The trend is not limited to her generation. Many young women in the past also married early and became mothers, with motherhood being a core part of their identity. However, with the cost of living rising, raising a child has become a risky financial decision. In South Korea, for example, pet strollers account for 57% of all pram sales, and pet food sales have surpassed baby formula sales.

This shift in preference has been happening across different cultures and political systems, with fertility rates declining globally. In the United States, 94 million households own at least one pet, compared to fewer than 100 million households with children under 18. Millennials, in particular, are more likely to prefer pet ownership over parenthood, with 58% saying they'd rather have a pet than a child. Among Gen Z, 70% own two or more pets.

Despite the slow but steady decline in the global birth rate, Africa still has the highest birth rates. However, the fertility rate has been decreasing since the early 2000s due to improved socioeconomic conditions, access to education, and expanded family planning. In South Africa, the fertility rate has fallen from 2.78 in 2008 to 2.21 children per woman now. The trend of pet ownership is also seen among baby boomers, who are entering the empty nest years and looking for a new household role for their pets.