In 2015, Travel & Tourism contributed $7.2 trillion to world GDP, representing 9.8% of total global GDP and has been growing for the past six years straight! In fact over the next decade, the Travel & Tourism sector is set to outperform the global economy with an expected average yearly growth of 4%. Clearly this sector is absolutely vital for the health of the global economy and timeshare represents a significant, but sometimes overlooked part of this exciting economic expansion. Today we would like to wish you all a very happy International Timeshare Appreciation Day, and invite you to join with us in celebrating this much loved and important part of the Travel & Tourism industry.
What many don’t realise is that the timeshare industry is now over 50 years old and generates revenues of over $14bn per annum in sales and $45 billion in economic output (figures from the ARDA International Foundation, 2010). There are timeshare resorts in countries all over the world, with both the number and variety of resorts expanding each year. There are approximately 20 million timeshare resorts worldwide which represents a significant sector of the economy of many countries.
According to a study conducted by Ernst & Young for the ARDA International Foundation (AIF), in 2015 in the US alone the timeshare industry contributed an estimated $79.5 billion in consumer and business spending to the national economy. This impressive total includes more than 511,000 jobs with $28.1 billion in salaries and wages.
As this study has shown, the timeshare industry is not just beneficial for those enjoying their vacations, but also for the wider economy, providing consumer spending, taxes and a huge number of jobs. There is much to be celebrated within the industry and today is the perfect day to appreciate this amazing product. As well as all of these fantastic employment and economic statistics, it is obvious that the vast majority of timeshare owners absolutely love their resorts and holidays.
Here are some of the resort owners at Pearly Grey Ocean Club in Tenerife showing how much they enjoy their annual holidays there!
In line with the global Travel & Tourism sector, the prospect of growth within the timeshare industry is fantastic with significant rising demand expected. This will be driven by accelerating economic growth, a rising employed population, a growing urban population and rising individual net worth and wealth. There is so much to celebrate in terms of overall growth, the massive contribution to global and national economies, employment and of course the high satisfaction levels of owners.
One factor that will significantly help with the continued expansion of the timeshare industry is to share positive stories within the industry such owner testimonials and the wonderful experiences that owners can enjoy. Social media offers an absolutely brilliant opportunity to connect with your resort guests and prospective guests through valuable content and share this content to a wider audience. Resort engagement is improving across social media platforms such as Facebook, Twitter, YouTube and Instagram and allows the resort organisations to work together to promote timeshare as an excellent option for people to enjoy their vacations.
Make sure to follow our accounts and please help to share this post across your social media accounts, so that we can help spread the great news for the timeshare industry. Add the hashtags #YES2TIMESHARE and #RDOdigital so we can help monitor the reach of your posts and make them easier to find and engage with. You can also follow our accounts for all the latest travel news and inspiration: