February 6th, 2017 by Own A Space
Dubai, being compelled by its traditional attractions, world class shopping malls & theme parks, is in the top list of destinations for timeshare for Africans as it have the potential to come up as a global hub for holiday ownership having Dh18.35 billion in sales, according to experts.
A leader in timeshare industry, Falcon Holidays says that the expected enactment of the long awaited law for timeshare would be a big flip to the sector. Dubai market is expected to grow strong surmounting the average growth rate of 15 -20 % every year. 2017 will witness around 50% of growth as tourists will visit theme parks & attractions such as Dubai Opera.
Picture courtesy: i2.cdn.cnn.com
The founder of Falcon Holidays said that Dubai is the top destinations among AFH timeshare owners. UAE government efforts are the reason for strong economic ties with African countries for yielding mutual benefits. The robust role of Dubai is the critical reason behind dynamic UAE African relationship. This is explained when African tourists come here as there are more direct flights and easier visa regulations.
Around 2 lakh visitors from Nigeria visiting Dubai in 2015, AFH is continuing to expand its reach in the country as well as in other nations like Kenya, Ghana, Uganda, Angola, etc. The GCC region, especially the UAE, after the laws of timeshare takes place, will offer a new platform with many opportunities & great growth prospects for the tourism industry.
Timeshare is a model through which several parties own the rights either directly or through a club to use a resort condominium unit at different time periods. The merit being that the cost remains constant over 30 years span while the hospitality price appreciation is market driven.
5% of the total inbound tourism source market goes to Africans. They have the potential to develop the segment which appears attractive to the government to encourage economic ties with the continent. They believe in spending quality time with their family, opting out to buy timeshare, thus promoting the idea of family holiday.
Owners benefit financially by saving thousands, considering the benefits. They are also privileged to experience the high quality services. Dubai has the potential to become the Las Vegas or New Orlando of timeshare.
If 5% of the emirates 100,000 hotel rooms & apartments are converted, then the estimate average sale price for Dh 73,400 for each week’s vacation would result in Dh 18.35 billion in sales.
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