The travel industry has taken significant hits due to the COVID-19 pandemic over the last year and a half. Many travel destinations were left empty and without tourists to help boost their economy.
With the rollout of the vaccination, travel restrictions have been lifted to an extent, allowing safe travel between countries. One well-traveled place with plenty of timeshares is in Southeast Asia, specifically Thailand and Indonesia. Both of these countries have so much beauty to offer their travelers and timeshare owners.
Southeast Asia has experienced its ups and downs over the past few decades with vacation ownership, but it has made a comeback. It can hopefully continue to be a prized destination for travelers even after COVID-19 fades. Vacation ownership in Southeast Asia is still a relatively new practice, but the beautiful destinations are hard to miss.
The History of Vacation Ownership in Southeast Asia
In the 1990s, vacation ownership, also known as timeshares, began in Southeast Asia. Primarily in Thailand, these destinations were great for business owners and professionals to purchase into to have somewhere to vacation. However, the timeshares quickly faded because of credibility issues within the industry. Many who owned timeshares may have taken advantage of the rescission period to get out of the timeshares in fear of being scammed.
Those who lived in Thailand thought that these vacation ownership programs were part of a pyramid scheme. However, stricter guidelines were set in Thailand and other regions of Southeast Asia regarding vacation ownership in the late-1990s and early-200s.
The efforts to rebuild trust within the vacation ownership business proved effective, and the company has since flourished. Stricter consumer protection laws were established and improved to ensure that those who owned and operated vacation resorts and homes were ethical in their practices.
Current Status of Vacation Ownerships in Southeast Asia
Currently, timeshares in Southeast Asia are some of the best in the world. In 2015, Asia experienced an increase in sales, and it was the largest across the globe. They were able to employ tens of thousands of workers and contributed significantly to the economy.
In Thailand specifically, there are over 50 companies that are part of the vacation ownership industry. Additionally, they boast more than 55 resorts as well as over 1,000 apartments. As a result, those involved in the industry have helped contribute to the Thai tourism economy each year.
There’s still a potential for growth in this region of the world. Some of the best markets include Thailand, Indonesia, Vietnam and the Philippines. When you purchase a vacation spot, you’re guaranteed to have it at the same time every year and don’t have to worry about managing the property.
A Beautiful Place to Vacation
Every year, about 139 million international travelers come to Southeast Asia to experience the wonderful beaches, food and hospitality. The region is becoming more and more attractive to people worldwide. The tourism industry is vital to Southeast Asia, and participating in vacation ownership now, especially as the world is reopening, is a smart investment. It’s a beautiful place to vacation and a promising destination for timeshares.