The newly released 2016 Worldwide Shared Vacation Ownership Report, conducted by Oxford Economics and Leger for the ARDA International Foundation (AIF), once again reveals the international timeshare industry to be formidable in size, diverse in makeup and ready for future growth.
The shared vacation ownership industry has shown consistent, steady growth over the past several years. Between 2014 and 2015, global sales increased 11.5% from $17.7 billion to $19.7 billion. Occupancy rates in the shared vacation ownership industry have remained strong, registering 79.4% in 2015, up slightly from 76.4% 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.
“It is clear that the global timeshare industry is healthy and growing. Vacationers around the world understand the value proposition timeshare provides” says Howard Nusbaum, president and CEO of ARDA. “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.
The American Resort Development Association (ARDA) is the Washington D.C.-based professional association representing the vacation ownership and resort development industries. Established in 1969, ARDA today has 600 members ranging from privately held firms to publicly traded companies and international corporations with expertise in shared ownership interests in leisure real estate. The membership also includes timeshare owner associations (HOAs), resort management companies, and owners through the ARDA Resort Owners’ Coalition (ARDA-ROC). For more information, visit www.arda.org.
The ARDA International Foundation (AIF) is the timeshare industry’s leading source for market intelligence and career advancement resources. AIF, a 501(c) (3) organization, serves to enhance knowledge for the public and industry through its comprehensive timeshare research studies, and aims to enrich careers through ongoing training, learning and development. For more information, visit www.arda.org/foundation.
PRESS RELEASE SOURCE: ARDA International Foundation