The sale and rental of new timeshares and of timeshare resales benefits the economy both directly and indirectly.

The American Resort Development Association, known as ARDA, recently released statistics on the economic effect of the timeshare industry in certain geographic regions. The study showed that the timeshare industry positively impacts regional, state and local economies in measurable ways. In fact, resale timeshares specifically are a significant and sometimes overlooked economic contributor within the industry.

The studies prepared for ARDA by PricewaterhouseCoopers and released by ARDA International Foundation, show that the Florida timeshare industry contributed $12.3 billion to that state’s economy in 2005, and the Nevada timeshare industry contributed $2.8 billion to the Nevada statewide economy during the same period. While many states in the US gain considerably from the presence of the timeshare industry, Nevada and Florida head the list, with California and South Carolina coming next in line.

Timeshares positively impact the economy through the sale of new and resale timeshares, job opportunities created by the industry, direct and indirect expenditures of timeshare vacationers, and revenues realized through local property taxes. Every time someone buys a timeshare resale, two positive things happen. First, a new owner takes possession of the timeshare unit, begins to use it, and feeds money back into the economy where it is located. But secondly, a person who no longer wants or needs that particular timeshare is relieved of the on-going cost of vacation property ownership and is freed-up to put his or her money into something else, including even new timeshares.

John Palmer, aka, Goldfinger, was arrested last week in Tenerife, accused of heading an international criminal network. Specifically, the charges included trafficking in drugs and weapons, counterfeiting, bribing public officials, assault, and cheating tourists.

Palmer served jail time commencing in 2001 for conning thousands of people out of money in a timeshare scam that totaled roughly 30 million British pounds. The timeshare scam involved unscrupulous sales people trained to overwhelm timeshare buyers with language and paperwork so confusing and so complex that people gave up trying to understand it and simply turned over their money. Timeshare buyers were convinced they would profit by buying a timeshare, reselling it, and then buying timeshare again. Some 17,000 people—primarily tourists visiting in Europe—fell victim to the scam. But Goldfinger’s timeshare rip-off wasn’t his first brush with the law.

In 1983, a Brinks-Mat warehouse was robbed, in what at the time, was the UK’s largest robbery ever. Three tons of gold ingots, traveler’s checks, and diamonds were heisted from the warehouse. Palmer was not charged as a member of the robbery gang. He was, however, indicted, but was later cleared of charges that he maintained a smelter pot and melted the gold bullion for those who were directly involved in the crime. Among other unproven charges, he was also suspected to have been involved in helping a double murderer, and member of the Brinks-Mat heist, flee the country and evade arrest.

As if Goldfinger’s life doesn’t already sound more like a gripping novel than anyone’s reality, the court-ordered compensation for his charges in the timeshare scam (a mere 35 million-plus pounds) were later dismissed because of “procedural blunders by the court”. Apparently, US court aren’t the only ones that sometimes have their problems.

If the words Tenerife and timeshares sound familiar, it may be because just last year, two of Goldfinger’s former employees in the timeshare scam where brutally murdered in a case that remains unsolved.

It goes without saying, never sign your name to paperwork you do not fully understand, no matter what you are buying. Do not let timeshare sales people pressure you into signing on the spot in order to receive a reduced price, and be sure you know up front what the rescission period is for the state or country in which your contract is being executed. Lastly, if that nagging little voice in your head says you should be wary, then listen to it. There are plenty of timeshares, both new and resale, which you can purchase at excellent prices in fair and legal transactions.

Boomer women, that’s females born between the years 1946 and 1964, have become a dominating force in the US economy. Today’s midlife female directs 80 percent of consumer spending, according to the research of Mary Brown and Carol Orsborn, Ph.D., in their new book, simply titled, “BOOM”.

While some people may think that middle-age individuals and timeshare vacation properties are both out-of-date and passed their prime, that assumption could not be further from the truth. Today’s boomer woman represents the generation who has seen more change in the roles and opportunities of women than any previous age group. They are the best-educated and highest income earning generation of women ever.

As younger women, many carried protest signs to spark social and political change. Today they are more likely to use petitions, speaking before legislative bodies, and the focused spending power of their dollar to achieve their objectives. They may be older, but they are definitely not taking a back seat to anyone.

Like boomer women, timeshares were just starting out in the 1970’s. They too, have changed and evolved tremendously over the years. Timeshares, as an industry, have “grown up”. They are now carefully regulated in the US. Around the globe, laws to protect timeshare buyers and timeshare owners are improving every year.

Where timeshares were once inflexible and limited to the same week at the same resort, year after year, that too, has changed, affording vacation property owners the chance to pick their leisure time, use it in increments that fit their schedule, and exchange or bank it for other venues and other times. And I don’t have to tell you how much the timeshare industry has gained from the ever-increasing involvement of big hoteliers and chains that brought with them the power of brand recognition and consumer confidence.

But why boomer women and timeshares?

Consider that 67 percent of the wealth in America today is controlled by boomer women and that they have not yet reached their income earning potential. Boomer women also stand to inherit money from their own parents, their spouse who they will statistically outlive, and indirectly from their in-laws. Just as importantly, boomer women represent a demographic with a proven commitment to carving out time for well-earned vacations and time spent with family and friends. With those facts in mind, it isn’t hard to imagine that boomer women potentially could take sales over the top for the already-booming industries of timeshares and vacation property ownership.

Here’s a You-Tube trip down memory lane for all the Baby Boomers.

Marriott Vacation Club International has announced the second phase opening of its Marriott timeshares at Frenchman’s Cove in St. Thomas. The new phase includes 30 additional two-bedroom timeshare villas and a full service restaurant.

Balconies off each villa overlook the sugar-white sand beaches of Pacquereau Bay. Other features of the timeshare units include fully equipped kitchens, dining areas, a washer and dryer, and multiple Sony televisions and DVD players. The resort is situated on 13 waterfront acres where tropical mountains slope to Caribbean-blue waters.

Marriott Vacation Club International views St. Thomas as a high-demand area among their vacation property owners, and regular readers of the timeshare blog may recall our Timeshare Owners Blog posting one chilly day last February when I wrote about Wyndham Vacation Resorts acquiring the Old Beach Palace resort in St. Thomas. At that time, I quoted Lisa Burby, senior director of Wyndham Vacation Ownership, as saying, “St. Thomas is an extremely popular destination for our owners.”

With Marriott and Wyndham timeshares taking the same position here, I’d say that buying a St. Thomas timeshare resale with plans to use it, rent it, or resell it in the future, is a pretty solid plan.

Here’s Marriott’s great video that appears on You-Tube. If it doesn’t make you want to go to St. Thomas, then the beach just isn’t for you!