PricewaterhouseCoopers (PwC) analyzed the direct economic impacts;
indirect economic impacts; and fiscal impacts of the timeshare industry
on the U.S. economy for 2005.
Total Impact
Combined direct, indirect, and fiscal impacts in 2005 by the U.S.
timeshare industry contributed an estimated $92 billion to the U.S.
economy in 2005. This included $62 billion in consumer and business
spending; 565,300 full- and part-time jobs; over $21 billion in
salaries, wages, and related income; and approximately $8.5 billion in
tax revenue.
Tax Revenues
Combined, the estimated fiscal impact of the timeshare industry
totaled an estimated $8.5 billion, including $4.8 billion in federal
taxes and $3.7 billion in state and local government taxes. The total of
$8.5 billion in 2005 represents an increase of $1.7 billion in
additional taxes compared to 2002, reflecting growth of 24.8
percent.
Owners supported local governments and facilities through an
estimated $400 million in annual property taxes. Visitors who rented
vacant inventory contributed an estimated $80 million in occupancy
taxes.
U.S. Timeshare Vacationers’ Characteristics
There are over 1,600 timeshare resorts in the U.S., attracting over
4.1 million households to timeshare ownership.
Of the $10 billion spent by timeshare vacationers, well over 90%
occurred outside of the resort among local area businesses. Visitor
spending during timeshare vacations supported approximately 99,700 jobs
and $3.0 billion in salaries, wages, and related income at businesses in
resort destinations, such as restaurants, retail outlets, and visitor
attractions. For resort operations, alone, 91,300 professionals were
employed and paid over $2.4 billion in salaries, wages, and related
income.
Growth of the Timeshare Industry
The growth of the industry and its corresponding economic
contribution is evident in comparing the results for 2005 to PwC’s
analysis of the industry’s impacts during 2002.
Source: Economic Impact of the Timeshare
Industry on the U.S. Economy. 2006 Edition. ARDA International
Foundation (AIF), prepared by PricewaterhouseCoopers LLP.
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