2015 saw a great deal of jobs and tax revenue added to local economies thanks to the timeshare industry. According to reports by the American Resort Development Association (ARDA), U.S. timeshare hot spots like Florida, California, Las Vegas, and South Carolina all saw tens of thousands of new jobs and billions of dollars contributed to their economies through salaries, revenue, and tourist spending.
The statistics from 2015 are evidence of yet another year of growth for the timeshare industry, with both occupancy rates and consumer interest rising in recent years. The nation-wide impact of the growing timeshare industry in the United States totaled $79.5 billion in consumer spending, along with more than 500,000 jobs and $10 billion in tax revenue. However, the impact on local economies has been more substantial, with timeshares giving money back to communities and small businesses.
The Florida timeshare industry saw almost $15 billion added to the local economy, with over 100,000 jobs and $5 billion in worker income. $865 million in tax revenue was also attributed to the timeshare business there.
Las Vegas and South Carolina timeshare industries posted similar numbers, adding around $2.5 billion to their local economies. 16,000 people found work at Las Vegas timeshare resorts, compared to South Carolina’s 19,000. Both locations added hundreds of millions of dollars to labor income as well.
The California timeshare industry recorded $3.6 billion added to the state’s economy. $267 million was attributed to tax revenue, while 24,000 new jobs drove industry workers’ income up by $28 billion.
Another key takeaway from the results is the amount of money spent by consumers staying at timeshare resorts in the above locations. Florida saw a whopping $2.6 billion in consumer spending, at both timeshare resorts and local businesses. California reports nearly half a billion in consumer spending, while Las Vegas and South Carolina posted similar numbers. Howard Nusbaum, the CEO of ARDA, implies that the growing timeshare industries benefit more than vacationers, stating “This industry has a huge impact on local economies through jobs, spending by vacationers, and taxes.”
With another successful year in the books, timeshares are becoming more popular than ever. Local economies are poised to report even better numbers from the 2016 data, meaning 2017 is the year to claim your stake in the industry.. If you’re a traveler seeking a new great vacation solution, you can find an affordable and seamless way to enter the timeshare industry through the secondary market. Browse timeshare resales and rentals online today with SellMyTimeshareNow.com and join a healthy and growing industry.