Today, many owners are complaining and eager to get out of their timeshare contracts. Several consumers also have a negative perception regarding timeshare ownership. But on the positive side, this industry has a great impact on employment. The employment impact of this industry has seen the largest increase in both the timeshare sales and marketing segment and resort construction.
This make sense because based on sales there is a need for more employees that would staff this area. Meanwhile, the impact of resort operations is positive but does not keep pace with the other two because of the number of resorts that are in the preconstruction and construction stages.
On the other hand, the impact of the employee salaries reflects the increase in employment. The sales and marketing segment has witnessed the most dramatic rise. However, the resort operations segment has seen a larger rise compared to the rise in jobs in the same segment. This indicates that the employees’ salary level had a more prominent increase than the rise in jobs which would mean higher wages for current employees in the timeshare industry. The resort construction also saw a similar increase indicating that the employment opportunities in this area of the timeshare industry are garnering better financial gain.
More importantly, the fiscal impact that the government relies on for its infrastructure and the sustainability of the tourism economy are the taxes collected from vacation properties such as timeshares and occupancy, employment taxes and taxes that have been generated from other industries as a result of timeshare resorts being part of the economy. As employee salaries have increased, this directly results in an increase in taxes collected.