To most people, timeshares have a horrendous reputation and are only for "suckers" who purchase during vacation. This can be the case for many people but a vast amount of timeshare owners actually enjoy their timeshares and consider it a worthwhile "investment".
Timeshares are definitely not a financial investment but they can be a great investment in spending time with your family, traveling to destinations that may not have been obtainable or simply experiencing new things.
Regardless of your thought on timeshares, I came across some staggering facts about timeshares that I thought I should share.
ARDA, the American resort Development Association, is an association that promotes the growth and development of the timeshare industry. They provide multiple different functions to the timeshare industry including information and trade data for the industry.
In one of their latest polls, they provided the infographic below to show the state of the timeshare industry in 2016.
While I definitely enjoy our timeshares, these various numbers are staggering to fully understand the scope of the industry.
Here are some of the more interesting facts:
1. There are over 5,300 share vacation ownership resorts.
2. These resorts are located in 121 different countries.
3. There are 527,000 units.
4. Timeshare sales accounts for $19.7 billion in 2015.
5. 91 new properties will be added in 2017.
Timeshares are definitely a big business! Its hard to fathom that this industry can be as big as it is with the reputation that it has but there appears to be constant buyers and ongoing demand.
My view on timeshares is that they are great but the way that they are sold is the issue as many of the issues with timeshares are not divulged during the purchase process.
Hopefully, this can change so that more people can understand them and see if they can be right for your vacation style.
What are your thoughts? Did you realize the scope of the timeshare industry?