The U.S timeshare industry contributed an estimated $68.7 billion in consumer and business spending to the national economy in 2013, according to a study conducted by Ernst & Young for the American Resort Development Association (ARDA). That includes a total of 473,000 jobs with $23.6 billion in income, the study reports.
“Timeshare makes a huge impact on local economies throughout the country,” says Howard Nusbaum, president and CEO of ARDA. “This industry fuels the economy through jobs, spending by vacationers, and taxes – and we are proud of this significant contribution.”
The impact of the timeshare industry on the U.S. economy extends beyond timeshare resorts, including the economic impacts of sales and marketing offices, corporate operations, the construction of new resorts, the renovation of existing resorts, and the significant impact of expenditures of vacationers during timeshare stays. This study estimates the comprehensive private and public sector benefits generated by the timeshare industry, ARDA says.
Combined direct, indirect, and fiscal impacts in 2013 by the U.S. timeshare industry included $68.7 billion in consumer and business spending, 473,000 full- and part-time jobs, $23.6 billion in salaries and wages, and $8.5 billion in tax revenue.
Spending by timeshare owners and guests during timeshare stays was estimated at $10 billion in 2013. About $2.1 billion was spent on-site at resorts, while $7.9 billion was spent off-site in the communities where the timeshare resorts are located, ARDA reports.
In addition to private sector benefits, the timeshare industry contributes significantly more federal, state, and local tax revenue per employee than the average industry, totaling $8.5 billion in 2013.
The report was conducted by Ernst & Young and commissioned by the American Resort Development Association (ARDA) International Foundation.
ARDA professional association representing the vacation ownership and resort development industries. ARDA has almost 1,000 members ranging from privately held firms to publicly traded companies and international corporations with expertise in shared ownership interests in leisure real estate.