Monday, July 23, 2007
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.