CARIBBEAN/BARBADOS: TALK TOURISM: Global Timeshare Appeal

TALK TOURISM: Global timeshare appeal - Thursday 09, January-2003
by Cheryl Harewood 

Today, we bring you the final part of a four-part series on this year’s 
Interval International Timeshare Conference, held between November 5 to 8, 
2002, at Disney Worldwide Resort, Orlando, Florida. 

Undoubtedly, the timeshare industry is doing well, and all indications are 
that it will continue, even in the face of adverse economic conditions in the 
tourism sector. 

The industry’s credibility in the Caribbean, as opposed to the international 
scene, still leaves much to be desired. The methods of marketing the industry 
(for example via wayside kiosks and “on-the-road salesmen and women”), is 
seemingly not a widely acceptable method for prospective buyers. 

Many property owners now look to the Internet, have set up huge marketing 
departments specifically for the use of sales, used the media-both electronic 
and print, as well as conduct seminar after seminar in their bid to woo 
prospective buyers. 

The bottom line however, is education. While a higher percentage of people 
today are more knowledgeable about the timeshare industry, they are countless 
others who still need to be educated. Their level of education would never 
permit them to purchase timeshare, simply because some of the “sellers” of 
the industry have “cheapened” it through their marketing ploys. 

I leave you with some handy facts and figures about timeshare: 

• It is one of the fastest growing sectors of the worldwide hospitality 
industry. 

• The industry has experienced double-digit growth over the past decade. 

• It has proven to be resilient to economic downturns throughout the course 
of its 30-plus year history. 

• There are currently over 5 300 resorts worldwide, 1 600 of which are 
located in the United States. 

• Resorts are located in over 95 countries and 47 states in the United 
States. 

• Florida has the most resorts (363), followed by California with 125 and 
South Carolina, 119. 

• In 2001, worldwide timeshare sales volume was US$8.6 billion. 

• In 2001, United States timeshare sales volume peaked at US$4.8 billion. 

• Timeshare owners reside in more than 270 countries. 

• 6.2 million consumers/owners timeshare worldwide. 

• 2.7 million United States consumers own timeshare in the United States. 

• 9.9 million timeshare weeks are owned worldwide. 

• People purchase timeshare because of its flexibility (including location, 
unit size and time of year). 

• It allows one to exchange with other resorts, and there is a certainty of 
quality accommodations. 




SOURCE: Barbados Nation