What Is The Scope Of The Global Vacation Ownership (Timeshare) Market?
Vacation ownership (timeshare) refers to a property arrangement where individuals purchase the right to use a vacation property for a specified time each year. It provides a way to enjoy luxury accommodations at a fraction of the cost of full ownership. Timeshares offer predictable vacation experiences and can include access to various amenities and locations through exchange networks.
Vacation Ownership (Timeshare) Global Market Report 2024 provides data on the global vacation ownership (timeshare) market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The vacation ownership (timeshare) market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Estimated Market Size And Expected Annual Growth Rates For Global Vacation Ownership (Timeshare) ?
The vacation ownership (timeshare) market is projected to grow from $16.60 billion in 2023 to $17.90 billion in 2024, with a CAGR of 7.8%. This growth is attributed to increased travel demand, higher disposable incomes, enhanced flexibility in timeshare options, improved marketing strategies, and growing consumer trust in reputable brands. The market is expected to reach $24.27 billion by 2028, growing at a CAGR of 7.9%. The forecasted growth is linked to rising demand for eco-friendly and sustainable vacation ownership options, a focus on attracting younger generations with flexible offerings, personalized vacation experiences, remote work trends promoting longer stays, and support for enhancing the ownership experience. Trends to follow include enhanced use of technology for seamless booking and digital experiences, integration of health and wellness facilities, technological advancements, improved customer service, and the use of virtual reality and digital tours to attract buyers.
What Are The Leading Drivers Of Growth In The Vacation Ownership (Timeshare) Market?
The increasing trend of international tourism is also expected to boost the vacation ownership (timeshare) market. As more people travel internationally, timeshare options provide cost-effective, pre-paid vacation options that encourage repeat travel. The UN World Tourism Organization reported a significant rise in international tourism receipts, highlighting the increased demand for vacation ownership in popular global destinations.
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How Are The Segments Defined Within The Global Vacation Ownership (Timeshare) Market?
The vacation ownership (Timeshare) market covered in this report is segmented –
1) By Type: Fixed-Week Ownership, Floating-Week Ownership, Points-Based Ownership
2) By Location: Beach Resorts, Mountain Resorts, Urban Areas, Theme Park Resorts
3) By Ownership Model: Deeded Ownership, Right-To-Use Contract
4) By Application: Private, Group
How Are New Trends Expected To Influence The Growth Of The Vacation Ownership (Timeshare) Market?
In the vacation ownership (timeshare) market, companies are forging strategic partnerships to streamline the distribution of timeshare properties. For example, KOALA, a US-based timeshare rental marketplace, teamed up with Expedia Group in May 2024 to modernize the timeshare rental process. This collaboration enables instant distribution and advanced management tools, improving accessibility and visibility for timeshare rentals.
Which Region Drives The Highest Growth In The Vacation Ownership (Timeshare) Market?
North America was the largest region in the vacation ownership (Timeshare) market in 2023. The regions covered in the vacation ownership (Timeshare) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
