NEW NUMBERS DUE SOON FOR THE 2015 OUTLOOK!
**UPDATE** The trend has continued throughout 2014. Timeshare sales are still jumping, resort developers are restarting projects previously abandoned, banks are lending money to finance sales/construction, and so the list goes. Stay tuned for the 2015 update!
The Department of Commerce published this in April 2014, “U.S. Commerce Secretary Penny Pritzker today announced that the United States can expect four percent average annual growth in tourism during the next five years, and that a record 72.2 million foreign travelers are projected to visit the United States in 2014 alone. The Spring 2014 Forecast for International Travel, released semi-annually by the U.S. Commerce Department’s International Trade Administration, predicts continued strong growth through 2018 following four consecutive years of record visitor volume.”
Let’s put together a couple of pieces of recent economic and travel news.
First consider news from Wyndham Worldwide. In today’s WSJ and Reuters online they reported increased earnings for the fourth quarter. The strength of the company is partly attributed to their rebounding timeshare division. Last year their timeshare sales grew 9% compared to a 21% decline a year earlier. Also, 80% of the overall revenue for Wyndham Worldwide (including Ramada, Howard Johnson and Days Inn hotels) comes from their timeshare business.
Next consider these remarks made by the Secretary of Commerce, Gary Locke on February 1st:
“Travel and tourism continues to be one of the bright spots in the U.S. economy. The first 11 months of 2013 showed a $28.3 billion trade surplus for travel and tourism.
Total tourism-related employment rose two percent in the third quarter of 2013, and we are continuing to see increases in the number of travelers and in the amount that they are spending while they’re here.
Today, I’m happy to announce the new international visitation data, prepared by our Office of Travel and Tourism. During the first 11 months of 2013, 11.4 million more visitors than year before.
While international visitation increased 10 percent for the first 11 months of 2013, international visitor spending increased by 11 percent to a solid $122.7 billion.”
Within the Department of Commerce they are proposing an increase in the number of international visas granted annually to increase travel revenue:
“Based on the most recent annual travel receipts, we know that increasing the number of visas issued to legitimate travelers from Brazil by 3 percent would provide the United States with $99.5 million more in economic benefit.
Increase travelers from India by three percent – that’s $77.3 million.
Increase travelers from China by three percent – that’s $82.7million.”
Also from the Department of Commerce was a report late last year that showed a significant trend in growing travel and tourism. Last September international travelers spent nearly $12 billion in the U.S. Here’s the graphic for that:
With the combination of recent sales growth and profit at one of the largest timeshare developers in the world, the reports of increasing travel to the U.S., increased international travel spending in the U.S., and the perception of the world public of safe travel in our country, the conclusion to me is that the increasing demand for timeshares will be passed on to timeshare owners who want to sell their timeshare.
All they need is a network of timeshare experts to facilitate these transactions. That’s where the depth of experience of those at www.rpmls.com comes into play. Having sold timeshare properties all over the world and closed over $100 million in sales, they have the size, experience, and systems to get the job done.