However, its not looking good for the company as of recent. Estée Lauder Companies Inc (NYSE:EL) reported its Q2 2023 results which revealed a 17% decline in net sales amounting to $4.62 billion, down from $5.54 billion for the same period in the previous year. Gross profit for the second quarter also decreased to $3.40 billion. For the first half of 2023, Estee Lauder Companies Inc (NYSE:EL)’s net sales were $8.55 billion and marked a 14% decrease compared to $9.93 billion for the first half of the previous year. 

Aristotle Atlantic Partners made the following comment about the Estee Lauder Companies Inc. (NYSE:EL) in its Q2 2023 investor letter:

“Estee Lauder shares were weak during the second quarter, following an inline earnings report where Estee again pushed out the timing of a recovery in their travel retail business due to sluggish travel trends in China and an inventory overhand in that end market. Estee reduced fiscal 2023 earnings guidance again and pushed the timing of the recovery toward the end of this calendar year. Outside of travel retail, growth was solid in the Americas, Europe, APAC, Emerging Markets and China.”

Sustainability is Here to Stay

Sustainability is driven by consumers' growing awareness of their environmental impact. From fragrances to self-tanners, beauty brands are gradually adopting refillable packaging and observing eco-friendly practices in production.

For example, Coty Inc (NYSE:COTY) has achieved a huge milestone in sustainability by launching Gucci's Eau de Parfum, "Where My Heart Beats," as the world's first fragrance produced using 100% carbon-captured alcohol. This perfume is essentially the result of Coty Inc (NYSE:COTY)’s partnership with LanzaTech, which captures carbon emissions from industry and converts them into high-quality alcohol for fragrance production. By using this technology, Coty Inc (NYSE:COTY) is reducing its carbon footprint and environmental impact and hence, contributing to a more sustainable beauty industry. 

Moving on to its financial performance, Coty Inc (NYSE:COTY) has reported strong financial results for the third quarter of fiscal year 2023 which ended on March 31, 2023. Q3 sales surged by 9% despite a 3% negative impact from exiting the Russia business, with core LFL sales soaring by an impressive 15%. The company's Prestige revenues in Q3 also witnessed a stable 10% growth rate as reported and a staggering 16% LFL growth which was driven by surging demand for prestige fragrances and improved service levels. 

The Rise of Gender Equality in the Beauty Industry

The beauty industry is undergoing a noteworthy transformation with a growing trend towards both gender equality and gender neutrality. Historically, skincare and beauty products were heavily gendered, but an increasingly gender-fluid generation of consumers is challenging this long-standing norm. Both indie and global brands are embracing inclusivity in their product development and marketing strategies. 

To exemplify, L'Oréal S.A (OTC:LRLCY) has been consistently recognized for gender equality by the Bloomberg Gender-Equality Index (GEI) for six consecutive years. The company prioritizes creating an inclusive and equal work environment across different areas like leadership representation, equal pay, anti-sexual harassment policies which also fosters an inclusive culture. It is worth mentioning that women at L'Oréal S.A (OTC:LRLCY) comprise 43% of the total workforce, with strong representation at the managerial and executive levels. L'Oréal S.A (OTC:LRLCY) also actively collaborates with external organizations to assess and enhance its gender equality policies.

Photo by Ball Park Brand on Unsplash

Methodology

The selection of the top 50 countries with the most attractive people was determined after analyzing the stats for the 1000 most followed people on Instagram. Thus, the most frequently appearing countries of origin for these people were considered. Those countries were then further studied regarding the frequency of cosmetic surgeries, facilities, and other beauty-related industries.

The subjective justification here is that domination of beauty industry is indicative of attractiveness as it offers products and services that enhance one’s physical appearance. Makeup, skincare, haircare, and cosmetic procedures also tend to empower individuals to feel more confident, and thus, confidence, in turn, radiates attractiveness. 

Note: For our list of countries ranked by attractiveness of people, we have exclusively focused on Instagram following as a proxy measure of attractiveness. Our list doesn't necessarily focus on beauty demographics.

Here is a list of 50 countries with the most attractive people. 

50 countries with the most attractive people

50. Hong Kong

The beauty industry in Hong Kong is home to popular brands like Laneige, Sulwhasoo, and SK-II, which cater to distinct consumer preferences. In tandem with this market, Instagram has also witnessed the meteoric rise of beauty influencers from HK. The most popular influencer in Hong Kong is Momo with a following of 13m. Hong Kong is one of the largest export markets for US beauty companies.

49. Poland

Poland's cosmetics industry is flourishing and ranks among the top five cosmetics markets in the EU. Polish companies command over 50% of the market by value and more than 66% by volume. Poland is also the 5th largest cosmetics exporter in the EU and 10th globally, with trade surpluses consistently stable in recent years. 

48. Lithuania

Lithuania's cosmetics imports are forecasted to rise to $663 million by 2026 from $550 million in 2021. Moreover, cosmetic exports in Lithuania are predicted to reach $490 million by 2026, up from $397 million in 2021, with a growth rate of 13.2% per year since 1999. Lithuania is one of the countries with the most attractive people. 

47. New Zealand

New Zealand's beauty industry continues to flourish owing to an aging population (38% over 50) which is spending increasingly greater amounts of money on cosmetic surgeries with an inclination for natural, environmentally-friendly products. The most popular Instagram beauty influencer from New Zealand is Lily Adrianne. 

46. China

Chinese beauty standards often differ significantly from the West. While beauty is a highly subjective phenomena, in China, pale skin, slimness, and melon seed or goose egg-shaped faces are generally found highly attractive. Moreover, plastic surgery for eyes is common, and body positivity is less prevalent. China is one of the countries that produce the best cosmetics. 

45. Latvia

Latvia ranks 5th globally in producing most female models per million citizens, making it one of the countries that produce the most super models. Moreover, the Latvian cosmetics industry is also predicted to grow, with increasing imports and exports. 

44. Czech Republic

The Czech beauty industry is stable and competitive. While Czech consumers are price-sensitive, the younger generation is influenced by global trends and thus, has become brand-conscious. Major players in Czech Republic’s beauty industry include Henkel, Beiersdorf, L'Oreal S.A (OTC:LRLCY), and the Unilever Group (NYSE:UL)

43. Singapore

Singapore's cosmetics imports and exports are projected to reach $16.9 billion by 2026. Since 1994, both demand and supply have steadily grown by 9.8% and 11.9% YoY. In 2021, Singapore ranked 6th in beauty imports.

42. Iceland

Icelandic women are particularly considered attractive owing to their sense of independence, strength, and beauty. They embrace gender equality with confidence and self-assuredness, which many find appealing. Iceland ranks 42nd in our list of countries with the most attractive people.

41. Costa Rica

Costa Ricans are also known as "Ticos," and are celebrated for their strong sense of community, and culture. They embrace a slower, more joyful way of life while also valuing environmental sustainability which makes them highly attractive. Keylor Navas Gamboa is the most popular influencer in Costa Rica and has 19.4M followers. 

40. Dominican Republic

Many people opt for surgeries in the Dominican Republic owing to its lower costs which is also why the Dominican Republic is a global hub for medical tourism. However, there are always concerns as some surgeries lead to infections, complications, and even fatalities. The Dominican Republic is one of the top countries with the most beautiful women. 

39. Switzerland

Swiss tend to prioritize eco-friendly and cruelty-free options which drives the cosmetic market's focus on sustainability and clean ingredients. Switzerland's cosmetics market is also highly competitive, with domestic and international players, like L'Oreal S.A (OTC:LRLCY), Shiseido, Estée Lauder Companies Inc (NYSE:EL), and Oriflame Holding AG. The market also places a strong emphasis on packaging design as a branding tool to attract consumers. 

38. Norway

Norwegians are mostly known for their natural beauty and personal hygiene. They are less involved with artificial beautification and focus more on looking put together generally. The most followed person on Instagram from Norway is Erling Haarland with a following of 35.4m. 

37. Ukraine

The beauty industry in Ukraine is thriving, marked by a growing demand for skincare, cosmetics, and haircare products. Major players include L'Oréal S.A (OTC:LRLCY), Procter & Gamble Co (NYSE:PG), Avon Products Inc (NYSE:AVP). Ukraine is one of the countries with the most attractive women. 

36. Tanzania

Tanzania is a country whose societies usually reflect a group-oriented social system which creates an overall politeness and generosity in its people. Flaviana Matata is a Tanzanian beauty queen and fashion model. She is the one of top Seven on the list of models that have recorded the highest income in Africa in 2013, according to Forbes Africa.

35. Philippines

The Philippines' beauty industry is currently focused on affordability and sustainability. Next-gen beauty trends include inclusivity, skin-friendly solutions, cultural representation, and openness about intimacy. The market values at $5.62 billion in 2022, primarily driven by Millennials and Gen Z influenced by social media and K-beauty. Filipinos are among the most good-looking nationalities in the world. 

34. Pakistan

The Pakistan cosmetics industry is growing steadily, with cosmetic imports projected to reach $275 million by 2026, and exports expected to rise to $25 million. It ranked 71st and 76th globally in imports and exports, respectively, in 2021. Ayeza Khan is the most followed female celebrity in Pakistan with 13.1m followers. 

33. Greece

People in Greece are often considered attractive because of their warm hospitality, friendly demeanor, and value for interpersonal relationships. Since their Mediterranean culture values social connections, it makes Greeks naturally welcoming and engaging in conversations, which contributes to their charm. Greece ranks 33rd in our list of countries with the most attractive people. 

32. Egypt

Egyptians have had a history of cultural emphasis on grooming and style with a strong sense of hospitality and charm ingrained in their social interactions. Mohamad Saleh is the most followed person in Egypt on Instagram with a following of more than 62.4m.

31. Spain

Spain is home to a vibrant entertainment industry which produces talents like Enrique Iglesias. It is because of their rich cultural heritage and focus on creativity in music, film, and sports that fosters artistic expression which adds to the attractiveness of the Spanish. 

30. Estonia

Estonia is the country with the highest per capita production of fashion models globally, with approximately 74 models for every one million people. Moreover, what adds more to the attractiveness of the people from Estonia is that Estonia's fashion blends traditional Baltic aesthetics with contemporary designs with Tallinn being the hub for fashion enthusiasts. 

29. Qatar

The Qatar cosmetics market is strongly dominated by a young population's interest in grooming, the rise of natural ingredient-based products, and strong social media marketing. Qatar is one of the countries with the most attractive people. 

28. Israel

The Israeli cosmetics market is on the rise as it has been observing a rise in disposable income, the popularity of luxury brands, and the demand for anti-aging and eco-friendly products. Vegan and cruelty-free cosmetics are gaining traction, and supermarkets play a significant role in product distribution in Israel. 

27. Finland

Finland's cosmetics market is projected to grow 1.1% annually and is projected to reach $379.6 million by 2026, up from $355.6 million in 2021. Import-wise, Finland ranked 56th globally in 2021, with China, Germany, and the UK as top competitors. Its one of the top countries with the most beautiful people.

26. Indonesia

Indonesia has a creative entertainment industry with attractive celebrities and influencers. Some notable names include Raisa Andriana, Prilly Latuconsina, and Agnez Mo in music andIqbaal Ramadhan in acting. The country allows for a room of creativity in each industry which adds to the attractiveness of its people. 

25. Mexico

Mexico's charm emanates from its rich cultural heritage, warm hospitality, and rich traditions. Its people are known for their friendliness, welcoming nature, and a zest for life, that is attractive to a huge segment of society. Mexico is one of the countries with the most attractive people.

24. Thailand

According to the International Trade Administration, the beauty and personal care market in Thailand was valued at $4.2 billion in 2021. US exports to Thailand were $120 million in 2020 that included cosmetics, makeup, skincare, shaving, soaps, and hair care products. 

23. Austria

When it comes to attractiveness by country, Austria ranks 23rd. The Austrian cosmetics market is set to grow, with imports projected to reach $1.5 billion by 2026, driven by a 4.1% annual growth rate since 1999, according to Reportlinker. 

22. Vietnam

Vietnamese charm is rooted in their warm hospitality, rich culture, and joyful personalities which many find highly attractive. Moreover, Vietnamese model Thao Nhi Le made to the TC Candler's list of the '100 Most Beautiful Faces of the Year'. Vietnam is among the top countries with most good-looking people. 

21. Sweden

Swedes are known for their effortless street style which is characterized by comfort and simplicity. Zlatan Ibrahimović is the biggest influencer in Sweden with a following of 62.9m. 

20. United Arab Emirates

The UAE's stringent measures against counterfeit cosmetics and personal care products, coupled with a huge consumer market and high purchasing power, make it an attractive $1.3 billion market for U.S. exporters. E-commerce channels contribute 24% of total revenues, with a focus on premium brands and sustainability. 

19. Turkey

The Turkish cosmetics industry has strengths in a large domestic market which is largely benefitted by its strategic location. Moreover, Turkey is one of the cheapest and best countries for plastic surgery. 

18. Denmark

Denmark is home to a remarkable lineup of stunning models like Nina Agdal and Maria Gregersen, each with their unique paths to success in the fashion industry. Moreover, Models like Josephine Skriver, who earned her Victoria's Secret Angel contract, are chosen based on their exceptional beauty, runway experience, and fit with the brand's image of glamour and confidence.

17. Lebanon

Lebanon’s rich culture and challenging circumstances have fueled creativity in its people which makes them highly attractive. Nancy Ajram is the influencer with the highest following with 38.9m followers on Instagram. Moreover, Beirut, the capital of Lebanon, is one of the cities with the most beautiful women. 

16. Argentina

Argentines are famous globally for their contributions to sports, particularly football, with icons like Lionel Messi. Moreover, their tango music, cuisine, and notable personalities in entertainment and politics have also garnered international recognition. Argentina is one of the countries with the most attractive men in the world. 

15. Portugal

Portuguese are known to be some of the most attractive people in the world owing to their warm personalities and confidence. The most famous person from Portugal is Cristiano Ronaldo. 

14. Germany

In Germany, consumer spending on beauty and personal care products has shifted due to the pandemic, with affordability becoming a top priority for German consumers. Sales rebounded in 2022 to approximately €18.5 billion ($19.8 billion) with online retailers gaining immense popularity. 

13. Venezuela

Venezuelans often display hospitality, kindness, and a zest for life, which make interactions with them pleasant and memorable. It has also produced several internationally renowned models like Dayana Mendoza who are celebrated for their beauty and charisma. 

12. Netherlands

According to Reportlinker, the cosmetics market in the Netherlands is expected to experience growth in the coming years. By 2026, Dutch exports are estimated to reach $5.1 billion, while imports are expected to reach $4.5 billion. The Netherlands is one of the countries with the most beautiful people. 

11. Russia

The cosmetic market is projected to grow from $9.25 billion in 2023 to $10.70 billion by 2028 at a CAGR of 2.96% in Russia. The key players in the beauty market are L'Oréal S.A (OTC:LRLCY), Procter & Gamble Co (NYSE:PG), and the Unilever Group (NYSE:UL).

Click here to see the 10 Countries with the Most Attractive People.

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Disclosure: None. 50 Countries with the Most Attractive People is originally published on Insider Monkey.