Facts & Figures
According to The European Timeshare Industry Report 2008, published by the Resort Development Organisation (RDO) and written by The Christel DeHaan Tourism and Travel Research Institute, University of Nottingham, UK, there were a total of 73,540 timeshare units in European resorts in 2007.
The European timeshare industry generated a total €957.3 million in sales revenues in 2007 across the 12 countries surveyed for this report. €789.5 million (83%) of the European sales total came from European residents, while €106.3 million (11%) represented timeshare purchases made at European resorts by visitors from the North American and Caribbean regions.
European timeshare owners spent a total of €3.2 billion on timeshare purchases, maintenance fees and spending during their holidays globally in 2007. Of this total, €2.6 billion (81%) was spent at resorts and destinations within Europe.
General characteristics of the timeshare industry in Europe
- In 2007 over 1.5 million European households owned timeshare.
- The UK and Ireland form the largest market having 589,653 timeshare owners, followed by Germany and Italy.
- Most resorts are concentrated in Spain and the Canaries with 26% of the total, 14% in Italy and 11% in the UK & Ireland.
- There were a total of 1,312 resorts in Europe.
- The total number of units in European resorts is 73,540, resulting in 67,590 million bed nights.
- Average occupancy levels across completed European resorts were 71%.
Economic impacts of the timeshare industry in Europe
- € 3.2 billion of expenditure was generated by the European timeshare industry in 2007.
- European timeshare owners spent €1.6 billion during their timeshare holiday, plus €957 million on timeshare purchases and €618 million on timeshare maintenance fees.
- The top spending market is the UK generating €1.4 billion (nearly half the total expenditure) in timeshare.
- The average expenditure per trip (or holiday) was €1,588 per family, which was mainly spent on restaurants, car rental, parking and petrol, groceries, accommodation and gifts, souvenirs and clothes.
- In terms of employment, a total of 69,836 jobs are directly sustained by the timeshare industry.
- The overall employment costs for the timeshare developers sector across all resorts is €1.28 billion (€1.06 billion if considering only resorts on the twelve European countries of this study).
Average Price of Timeshare Purchase
Survey respondents were asked what they had paid for their timeshares.
The average purchase price was found to be €11,000.
- 29% paid under €6,500
- 39% paid between €6,500 and €12,999
- 17% paid between €13,000 and €19,499
- 6% paid between €19,500 and €25,999
- 6% paid €26,000
Owners from Germany and Belgium/Netherlands tended to pay more for their timeshares (average of €15,000) than any other nationality in Europe, while owners from Finland (€8,932), Hungary (€7,395) and Greece (€6,836) paid the least.
Timeshare Owners by Country
Topping the table is the UK and Ireland, having 589,53 timeshare owners.
Drivers to Sales Presentation
The majority of owners surveyed, purchased timeshare at the resorts (59%), while under a quarter (22%) of European timeshare owners purchased their timeshare at a sales centre or office. In Italy, it was more common for sales to take place in the owners’ actual homes.
As much as 26.5% of European timeshare owners that agreed to attend a sales presentation were approached by a sales person on the street in the resort area or at a booth. Direct mails sent to home or business addresses encouraged 14.7% of respondents to attend a presentation. A telephone call to home or business drove 12.9% of respondents to attend a sales presentation.
European Timeshare Owners' Profile
- Average household income of respondents was €60,500
- 26.4% were retired, 24.8% were in professional or technical occupations, 17.2% in upper or middle management and 15.4% self-employed/business owner
- Average age of European timeshare owners 55 years of age
- 66.6% are between 45 - 64 years of age
- 15.1% are 25 - 44 years of age
- 15.9% are 65+ years of age
- 60% are male and 40% are female
- 87.5% are married or in a civil partnership
- 51.6% have children that are adults
- 15.5% have children under the age of 18
- 24.6% do not have children
- 29.5% reported that their children were very familiar with the details of their timeshare
- Nationalities reporting the heaviest independent use of timeshare by their children were: Italy (37.9%), France (34.5%), Belgium/Netherlands (34.5%) and the UK (33.7%).
Timeshare owner satisfaction levels are high with 86.6% of respondents reporting they were ‘satisfied’, of which over half said they were ‘very satisfied’ with their ownership.
Methodology: Based on responses from 33,098 timeshare owners across 12 countries being mailed directly by RDO, plus almost 400,000 survey questionnaires sent out to owners via developers and exchange organizations eliciting an 8% response rate.