Study shows Indians warming up to timeshare
A new RCI report highlighting the latest trends and habits among Indian travellers shows that Indians are increasingly warming to the concept of timeshare.
The study, which revealed that Indians are interested in escaping the daily grind to reconnect with loved ones, also showed that vacation ownership is increasingly being seen in a positive light, with seven in 10 consumers who don’t currently own timeshare reporting they find the concept appealing and relevant.
The report, which was conducted by Kantar IMRB on behalf RCI, comprised a sample size of 2008 in-depth interviews across including Delhi, Ludhiana, Kolkata, Mumbai, Hyderabad, Bengaluru and other major cities. Of the total sample size, 31 per cent of the respondents were timeshare owners.
Reasons for travel
The study examined Indian travellers to understand their motivations behind taking a holiday and the factors that go into deciding where to go. The top rated reason travellers take a vacation is to rejuvenate (60 per cent), followed closely by spending quality time with family (51 per cent) and taking time away from city life (36 per cent).
When deciding on a destination for holiday, travellers cited scenic beauty (64 per cent), convenient place to travel to (55 per cent) and affordable (42 per cent) as their top factors. As a result, Goa, Delhi and Kerala were the most popular domestic destinations among Indian travellers. Globally, Indian travellers are most likely to travel to Dubai (20 per cent), Thailand (13 per cent) and Singapore (12 per cent).
The survey also revealed that Indian travellers relish last-minute travel decisions, with more than four in 10 planning their holidays four weeks or less ahead of time.
Of particular importance to the vacation ownership industry, the survey examined holiday satisfaction rates among Indian travellers and found a significant gap between timeshare owners and non-owners. When it comes to overall holiday satisfaction, 55 per cent of timeshare owners reported being very satisfied compared to just 37 per cent of non-owners.
More timeshare owners also reported being satisfied compared to non-owners with specific aspects of their holiday. The timeshare owner segment also had significantly less worries while on holiday. When asked about having concerns on holidays, timeshare owners were significantly less concerned about cheats and pickpockets, accommodation quality and food options.
Timeshare ripe for growth
The report findings suggested the timeshare industry in India is well-positioned for growth. A total of 70 per cent of those who do not currently own timeshare find the concept appealing and relevant, and more than half (52 per cent) said they would be willing to sign up for a timeshare package in the future.
Sabina Chopra, managing director of RCI India, said: “It is encouraging to observe the response to timeshare in recent times. Timeshare has redefined the satisfaction quotient for the Indian traveller by providing convenient bookings, planning efficiency to scenic destinations, five-star quality accommodation, and adventurous activities.
“Indian travellers have reiterated their preference for timeshare holidays as it gives them the perennial experience of enjoying a gamut of holiday benefits.
“This is reflected in the results of the survey, which show that timeshare owners are much more satisfied with their vacations compared to non-owners. The findings also reveal there is a clear opportunity for our industry with nearly three in four who don’t own expressing interest in a product that helps them plan a hassle-free vacation and more than half showing willingness to sign up in the future.”
The typical Indian timeshare owner:
- Married, aged between 45-65 and with children aged over six
- Generally has their own business, and a monthly income of more than Rs76,000 to more than 1 lakh
- Starts planning almost 1-4 months in advance and prefer going on group tours