Shared vacation ownership continues to make great strides in South Africa, a nation that was largely spared from the brunt of the global economic crisis thanks to strict lending regulations that already were in place before the meltdown occurred. But the industry in South Africa is indeed strong and poised for further growth, no doubt thanks in part to the leadership of the industry association, VOASA.

As the Vacation Ownership Association of Southern Africa hosts the second annual VOASA Conference and welcomes shared-ownership industry players from around the world from 29 to 31 August, Perspective magazine South Africa profiles the association and talks with its executive director, Alex Bosch.

South Africa boasts a mature R2bn shared vacation ownership industry, totaling more than 200 resorts and 260, 000 shared vacation owners, with an 85% occupancy rate for 500,000 shared vacation ownership weeks. Shared vacation ownership takes the usual variety of product forms in South Africa, including conventional timeshare, points clubs, fractional ownership, and destination and private residence clubs (PRCs). The nation’s owners certainly seem to enjoy what they’ve purchased, as studies indicate that 74% of shared vacation ownership owners in Southern Africa feel that vacation ownership has increased the degree to which they look forward to holidays, 64% feel it has increased the amount of time they spend on holidays, and 62% believe it has increased their health and happiness.

VOASA was previously known as the Timeshare Institute of Southern Africa, or TISA. The name change was necessary in order for TISA (now VOASA) to evolve with the ever-changing industry, an industry that is constantly introducing innovative new products and propositions – products such as the aforementioned points clubs, fractional interests, destination clubs and PRCs, all of which fall under the shared vacation ownership category set out in the Property Timesharing Control Act No.75 of 1983 and/or the Share Blocks Control Act No.59 of 1980.

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Tags: Alex Bosch, destination clubs, Fractional Ownership, points, Private Residence Clubs, shared vacation ownership, South Africa, Timeshare, TISA, VOASA