Timeshare Industry Boosts Economy by $68.7 Billion

According to a recent study, timeshares are not just a great way to travel, but they’re also good for the economy. The study, Conducted by Ernst & Young found that in 2013 the timeshare industry added $68.7 in business and consumer spending to the national economy.

Conducted on behalf of the American Resort Development Association (ARDA), the purpose of the study was to research the fiscal impacts made by the timeshare industry during 2013. What they found is that the effect of the timeshare industry reached past the resort to influence jobs, taxes, and everyday spending.

President and CEO of ARDA Howard Nusbaum said, “Timeshare makes a huge impact on local economies throughout the country. This industry fuels the economy through jobs, spending by vacationers, and taxes – and we are proud of this significant contribution.”

Within the study, ARDA found that one of the biggest impacts on the economy came from jobs. In 2013 the timeshare industry influenced 473,000 jobs with $23.6 billion in total incomes. In addition, these jobs provided $8.5 billion in federal and state taxes.

Spending on resort development, renovations, corporate operations, and marketing costs also provide a great contribution to our nation’s economy. Not to mention how much money is spent by owners.

Typically timeshare owners will pay multiple travel fees to vacation including airfare, dining, and rental cars. Last year, these costs were estimated to be over $10 billion. Out of this, it is estimated that $2.1 billion was spend on-site and $7.9 billion was spent in travel and local entertainment.

To view the study, please visit ARDA.org.