Timeshare is an industry which is over 25 years old, generates revenues of over $6 billion per year and is forecast to grow twice as fast as overall world travel and tourism over the next decade. Today, there are 4 million timeshare families worldwide. Yet, few realize the extent of timeshares contribution to the economies of countries and to providing all year round tourism and employment.
The modern timeshare concept provides vacationers with a unique combination of consistency and choice. Consistency, in that vacationer can purchase the rights to their preferred vacation venue into the future. Choice, in that these rights can be exchanged, through dedicated international exchange companies, for other high quality holiday venues worldwide.
That instead of purchasing a holiday property outright, time share offers holiday makers the ability to buy rights of occupancy in a property in multiples of one week for a set period. It puts a holiday home within the reach of millions who could never afford to buy a property.
Once consumers have purchased their vacation time, they can either use their week, pass it to friends or relatives, or rent it out. But while there is total flexibility over who uses the timeshare title, the basic timeshare product lacked the flexibility of when and where it had to be taken. Consumers' demands for greater flexibility led to the growth of exchange systems and, more recently, point systems. These allow the owner to exchange his timeshare week for either another week at the same resort or for a week in another resort within the exchange network in over 5,000 resorts in over 80 countries. Exchange companies often provide their members with associated services - flights, car rental, insurance etc - at competitive prices.
Originating in France nearly three decades ago, the concept of time sharing has gained tremendous popularity. Today, it is not only considered as an economical and convenient form of vacationing, but is also a good investment opportunity. A timeshare owner gets to use the facilities within his specific unit, for a specific period of time for the contracted number of years. In a rough estimate any timeshare owner who has used the resort for a period of five years gets back the full value of the investment. The flexibility to sell, rent or bequeath the property fetches returns beyond imagination. So, smart vacationers get access to the most beautiful resort destinations in the world, at a price well within their budgets.
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