Timeshare industry creates multi-billion dollar impact
The timeshare industry is worth an estimated $68.7 billion to the US economy, according to an American Resort Development Association survey.
In addition to $68.7 billion in consumer and business spending in 2013, ARDA said the industry provided 473,000 jobs and $8.5 billion in tax revenue.
"Timeshare makes a huge impact on local economies throughout the country," said Howard Nusbaum, CEO of ARDA.
"This industry fuels the economy through jobs, spending by vacationers, and taxes – and we are proud of this significant contribution."
The study estimated the private and public sector benefits generated by the timeshare industry and says it goes far beyond the resorts to include sales and marketing operations, corporate business, and the construction industry.
It estimates timeshare owners and guests spent $10 billion in 2013 – $2.1 billion in the resorts and $7.9 billion in the local areas where resorts are located.
The study also claimed it contributed more federal, state, and local tax revenue per employee than mainstream tourism, totaling around $8.5 billion in 2013.
ARDA represents almost 1,000 member companies in the vacation ownership and resort development industries.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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