Waxing regularly and over long periods of time can cause damage such as darkening and lightening of the skin (hyper- and hypo-pigmentation) and can cause ingrown hairs which can lead to scarring. It is also a process that requires ongoing repetition.
Laser hair removal, by contrast, permanently reduces the thickness of the hairs, is not abrasive and does not have a negative impact on skin tone and texture. After a course of treatment, you can expect a permanently improved area requiring no ongoing treatment to maintain results.