The Vacation Ownership Market is forecast to expand at 6.6% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 11.6 million in 2023.
The vacation ownership industry has a lot of potential for growth in the future. Vacationers are now better equipped and inclined toward booking, researching, and buying timeshares online, thus yielding enhanced and simplified customer service. The emergence of this trend underscores the importance of digital technologies in the present scenario.
Customers also actively seek high-quality vacation experiences, from luxury villas to resorts. As a result, destination-based firms are now searching for discrete ways to milk from this trend.
An increase in vacationers opting for flexible ownership options like points-based and fractional programs. These trends exhibit the way the vacation ownership industry is evolving.
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AR technology is becoming valuable to the hospitality industry. This is due to the fact that with the help of this technology, hotels sell a physical environment. In addition to this, the importance of this technology in the vacation ownership industry appreciated, along with the shift in target demographics.
Recent trends indicate AR and VR have significant momentum and are projected to present new growth opportunities in the vacation ownership industry.
Top Highlights from the FMI’s Analysis of the Vacation Ownership Market:
- The North American vacation ownership industry is expected to lead the global landscape by attaining a massive share of 23% in 2022.
- In 2022, the Europe vacation ownership industry bagged 19.8% market share, just around a 3% difference from North America’s.
- The United States vacation ownership industry gained a 15% value share in 2022.
- The German vacation ownership industry achieved a 5% value share in 2022, gaining a prominent market in Europe.
- The Japan vacation ownership industry is expected to garner more than a 3.1% market share in 2023.
- The Australian vacation ownership industry is projected to hold a 5.8% market share in 2023.
- The United Kingdom market is expected to observe significant growth over the forecast period. The industry is projected to expand at a CAGR of 6.4% over the estimated time.
- Over the forecast period, India is projected to gallop at a CAGR of 6%.
- The China vacation ownership industry is projected to increase at a CAGR of 5% in the upcoming years.
- Based on tour type, the domestic segment is projected to acquire a market share exceeding 47% over the forecast period.
- Based on tourist type, the package traveler segment attained 36% market share in 2022.
What are the Recent Developments by Competitors that are Shaping the Forecast Timeline?
- In April 2023, Marriott Vacations Worldwide Corporation (NYSE: VAC) declared that it had completed its initial timeshare receivable securitization of the year 2023. Increasing demand for securitization and related costs indicates investors’ consistent confidence in the company’s leisure-focused business model.
- In June 2023, Bluegreen Vacations Holding Corporation (NYSE: BVH) announced that it had completed a private offering and sale of almost US$ 214.6 million of vacation ownership interest.
- In May 2023, SEBI suggested norms to regulate the fractional ownership platforms that offer real estate assets. The proposed framework is expected to result in the orderly development of the sector by protecting investor protection measures.
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Vacation Ownership Market by Category
By Type:
- Fixed Week
- Floating Week
- Points-based System
By Tour Type:
- Domestic
- International
By Tourist Type:
- Independent Traveler
- Tour Group
- Package Traveler
By Booking Channel:
- Phone Booking
- Online Booking
- In-person Booking
By Consumer Orientation:
- Men
- Women
- Children
By Age Group:
- 15 to 25 years
- 26 to 35 Years
- 36 to 45 Years
- 46 to 55 Years
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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