Last month, the US Senate passed the Travel Promotion Act. Such law will directly benefit the US tourism and travel sector. But those owners who are looking to get out of their timeshares may also indirectly benefit from the Act.
The Travel Promotion Act will create a public-private partnership for the purpose of promoting the US as a premier travel destination. Once it is put in place, the program is estimated to create thousands of jobs, increase consumer spending, and reduce the federal budget deficit. In addition to that, this will also drive millions of new visitors to the US. This implies that with more tourists and longer vacations in the US, there are also more timeshare buyers and timeshare renters.
According to Bill Marriott, chairman and CEO of Marriott International, “in 2008 the US welcomed fewer overseas visitors than in 2000 despite the fact that 48 million more people were taking overseas trips to countries around the world. This means that the pie grew big, but the US got a smaller piece of it. By marketing ‘Brand America,’ it’s time that the US claims a bigger piece of the pie.”
This law also gave hope to those timeshare owners who are already desperate in getting rid of their timeshares as most of them have already tried any way possible just to get rid of that considered unwanted property. But with this development, they may be able to rent out or sell their properties without hiring a timeshare transfer company like the Transfer Smart. With this newly passed act, there will be more potential buyers and renters of timeshares.