DURBAN - The timeshare industry, which is one of the earliest and largest examples of collaborative consumption, is a true backbone of the economy.
This is according to the Vacation Ownership Association of Southern Africa (Voasa) which says the industry has made it possible for holidaymakers to enjoy the benefit of quality and luxury holidays at a fraction of the cost.
“This is particularly prevalent in a tough economic climate,” said Alex Bosch, chief operating officer of Voasa.
“The 1970’s rise in inflation propelled the growth of timeshare in South Africa as a more affordable way to enjoy a holiday, and now 50 years on, it still makes perfect sense”.
According to Voasa, the traditional high-demand holiday destinations remain the most popular - namely the beach, Berg and bush. Due to the favourable climate, particularly on the east coast, timeshare beach properties are running at year-round occupancies in the 90% range with the bush and Berg occupancies close behind.
And when it comes to the “cream of the crop” in accommodation, timeshare still offers more availability and choice.
A study conducted by Voasa revealed that timeshare comprises 63% of the beachfront flats in uMhlanga, 60% of the holiday homes in the Drakensberg and 70% of holiday homes in the Hazyview / Kruger Park area.
The association said it had also observed a change in the travel patterns of timeshare owners. “There is a notable decrease in the number of annual week-long vacations with a preference for taking more frequent, shorter vacations,” explains Bosch.
The association said in 2019, timeshare sales remain positive.