Timeshare is alive and well. This was the message conveyed by President and CEO of the American Resort Development Association (ARDA), Howard Nusbaum, during a recent visit to South Africa to address the industry’s 30th annual RCI OSCAS Gala Awards.
His message was founded on the 2017 global timeshare industry results – which cover 5 491 resorts and over 20m timeshare owners – and revealed that the timeshare industry earned US$19.7b (€16.08b) in revenue, and contributed US$147b (€120b) to the worldwide economy. “By traveling to these resorts, holidaymakers make a positive impact on the global economy by supporting nearly 1.3m jobs, making timeshare a true backbone to many local communities,” he explained.
In South Africa, timeshare generates employment for around 27 000 people, and contributes billions of rands to the GDP. This is according to a Grant Thornton survey undertaken by the Vacation Ownership Association of Southern Africa (VOASA). To continue this momentum in the timeshare industry, ARDA has formed a Global Alliance for Timeshare Excellence (GATE) with VOASA and other leaders of timeshare associations in Canada, Europe and the Middle East, Latin America and Australia. Through this cross-border information-sharing alliance, Nusbaum believes that local markets and consumers will benefit.
Nusbaum comments that regulatory improvements will be directly linked to the industry’s success. “From a growth perspective and paths of opportunity, regulatory regime has done more for consumers’ confidence and safety, which has in turn fostered a more robust timeshare industry and formed the hinge around which the industry has turned for the better. I believe that the South African market has the best flexible products, vacation experiences and human resources to make the changes necessary for a successful future and we are looking to South Africa for great things to come.”
