Owners and industry professionals are aware of timeshare's benefits to the consumers, but timeshare also has a huge impact on both local and national economy. The recently released report, 2016 Economic Impact of the Timeshare Industry on the U.S. Economy, from ARDA International Foundation's (AIF), provides impressive figures on the actual size of timeshare's impact.
"It is not just the vacationers that benefit from the timeshare industry," said Howard Nusbaum, president and CEO of ARDA, in a recent press release. "This industry has a huge impact on local economies through jobs, spending by vacationers, and taxes."
The report, conducted by Ernst & Young, illustrates that timeshare's influence on the U.S. economy goes far beyond timeshare resorts. It includes the sales and marketing offices, corporate operations, construction of new resorts and renovation of existing resorts. It has significant effects on vacationers’ expenditures during timeshare stays. Here are a few of the highlights of the report.
- Economic Output
79.5 billion in consumer and business spending
16% increase over 2013
511,782 full and part-time jobs
8% increase over 2013
- Labor Income
$28.1 billion in salaries and wages
19% increase over 2013
- Consumer Spending
$10 billion total spending by timeshare vacationers
$3.4 billion onsite, $6.6 billion off-site
Everyone in the timeshare industry has real reason to feel proud of these achievements. Not only does the industry provide millions of people a perfect vacation year after year, and many private sector benefits, it also provides substantial tax contributions that are a source of revenue for federal, state and local governments - $10.2 billion in 2015, a 21% increase over 2013.
ARDA Insights Blog: http://www.arda.org/news-information/arda-insights/
Vacation Better Blog: http://vacationbetter.org/u-s-economy-lifted-by-timeshare-industry/