| AIF Released Study On The Impact Of Timeshares To South Carolina Economy |
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| Written by OJ Fagbire | |
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A study recently released by the ARDA International Foundation showed that timeshare owners contributed a substantial amount of money to the state of South Carolina. According to the study, 2.2 billion was earned by South Carolina timeshares in 2005. This was a 17 percent increase from 2002, which figures out to roughly 5.6% annually. AIF conducted the study in order to analyze how much of a positive effect timeshares and their owners were having on the economy in South Carolina. The 17 percent increase translates to $320 million in revenue from timeshares. Over 26,000 jobs paying almost $740 million in wages were also created by the additional flow of visitors from the timeshare communities into the surrounding resort and retail facilities. Close to seven percent of all US timeshares (about 10,700 units) are located in South Carolina, which provide more than 400,000 timeshare vacations to owners and their guests. Each vacationer spends an average of $1,257 per trip. Although new purchases are quite a cash cow for the area, the ripple effect of visitors that spend money annually on souvenirs, dining, and recreation provide the widest source of revenue for the state. This research is based on participation of 56 timeshares in the country, covering close to 50,700 units and more than five billion dollars of timeshare sales. The South Carolina responses come from 21 resorts with almost 4200 units, or approximately 35% of the timeshare population in the state.
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