Timeshare industry’s sales increase worldwide
The newly-released 2016 Worldwide Shared Vacation Ownership Report reveals the international timeshare industry to be formidable in size, diverse in make-up and ready for future growth.
Conducted by Oxford Economics and Leger for the ARDA International Foundation (AIF), the report confirms that the shared vacation ownership industry has shown consistent, steady growth over the past several years. Between 2014 and 2015, global sales increased 11.5 per cent from $17.7 billion to $19.7 billion.
Occupancy rates in the shared vacation ownership industry have remained strong, registering 79.4 per cent in 2015, up slightly from 76.4 per cent in 2014. There are nearly 5,400 shared vacation ownership resorts with properties in 121 countries. In addition to its geographic diversity, shared vacation ownership offers a wide variety of product experiences.
Howard Nusbaum, president and CEO of ARDA, said: “It is clear that the global timeshare industry is healthy and growing. Vacationers around the world understand the value proposition timeshare provides.
“The flexibility of the product gives owners endless vacation destinations and options around the world, more space and privacy while on vacation including kitchens and separate living and sleeping rooms in most units, and the value of knowing they can expect this enhanced vacation experience each year.”
In fact, worldwide, the shared vacation ownership industry supported nearly 1.3 million jobs in 2015. Of those jobs, industry operations, off-resort vacation expenditures, and capital expenditures generated more than 577,000 direct jobs. Another 702,000 jobs were sustained through the supply chain.
The industry also generated $57 billion in direct economic output, totaling the impact of the shared vacation ownership industry to nearly $146 billion when including indirect spending and other induced impacts on the economy. And nearly $17 billion in taxes were generated by the shared vacation ownership industry.
This research shows that the timeshare industry is forging ahead in the global markets. In fact, survey respondents indicate they will complete 91 new properties with more than 7,300 total units worldwide in 2017 and beyond – a strong sign.