A Smart Look at the Impacts of the Timeshare Industry
Although many owners today are trying to get out of their timeshare contracts and have a negative perception about such vacationing option, it is no doubt that this industry have a significant on the society. It is important to note that the timeshare industry is multifaceted. Just like the lodging industry, the impacts are direct such as the money for construction, the actual purchase of the product, employment at the actual resort, and taxes; and indirect such as businesses needed to support the resort, employment opportunities created by the need, money spent at the businesses by vacation owners and guests, and the taxes on the money that is collected.
Despite the number of scams reported regarding this industry, there has been an upward trend indicating a reliable positive impact based on the presence of the timeshare ownership resorts in a community. The direct output impacts include jobs that were created by the need to build and employ the resort during the building or sales process and once construction is completed. The money spent at the resort by owners and guests is also seen in the direct vacation expenditure impacts.
Meanwhile, the indirect output impacts that result from the presence of vacation ownership resorts in a community are twofold. This includes purchases by owners and guests in the community like money spent on souvenirs and at a grocery store, and they include employees and the income that is created by businesses needed to support the resorts such as landscaping services and housekeeping contract services. The final and could be the most significant impact that communities benefit from as a result of timeshare ownership resorts would be the taxes brought into the community.
On the other hand, based on the fact that these resorts are owned by those who live outside of the community, property taxes are collected for services such as schools that are never used by the owners. Some units are also rental properties, and occupancy taxes are collected on the nightly rentals if the rooms are not being currently occupied by owners or exchangers. Moreover, the employee taxes and taxes collected on activities pursued are both the positive result of timeshare industry that sparks the economy by creating the need for employment and bringing in outside dollars to the community.
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