Laser is for "permanent reduction," which is a bit of a slippery term. Generally, on body hair, if you are looking to have less hair and you aren't concerned about getting all of the hair, laser is ok, though there are a stack of caveats that go with that (skin color, hair color, laser type, etc).
Keep in mind that I have had clients looking for just body hair reduction from laser that got stimulated hair growth instead, ending up with more hair than they had before they had laser done. In that case, you're going to spend thousands on laser, only to end up paying for more electrolysis than you would have had to do had you not done the laser. I'm not the only electrologist that can tell you that story, pretty much all of us can.
If you want permanent removal, to be completely hairless, laser will simply never do that for you and only electrolysis can.
What's right for you comes down to your goals and the practical limitations of laser.