While the new generation of sharing economy businesses learn how to play in a world of shared assets, timeshare is building on an established $146 billion global industry thanks to decades of experience in the sharing concept.
As one of the earliest and largest examples of collaborative consumption, this successful model has made it possible to enjoy the benefit of quality and luxury vacations at a fraction of the cost, despite the tough economic climate.
The rise in inflation in the 1970’s propelled the growth of timeshare in South Africa as a more affordable way to vacation and now 50 years on, it still makes perfect sense!
The traditional high demand holiday destinations remain the most popular – namely the beach, berg and bush. Due to the favourable climate, particularly on the east coast, timeshare beach properties are running at year-round occupancies in the 90% range with the bush and berg occupancies close behind.
And when it comes to the “cream of the crop” in accommodation, timeshare still offers more availability and choice. A study conducted by VOASA revealed that timeshare comprises 63% of the beachfront apartments in uMmhlanga, 60% of the apartments in the Drakensberg and 70% of the apartments in the Hazyview / Kruger Park area.
There’s also been a change in the travel patterns of timeshare owners and holiday club members over the years. There is a notable decrease in the number of annual weeklong vacations with a preference for taking more frequent, shorter vacations.
Settling into 2019, timeshare continues to be the popular choice to vacation. This year will see ongoing reinvention in vacation products and services that is backed by an industry that is passionate about creating quality vacations.