Tourism today has grown significantly in both economic and
social importance. Travel and tourism is the largest industry in
the world on virtually any economic measure including : gross
output,Value added,capital investment,employment and tax
contributions. In 1992worldwide international arrivals had
reached 467 million. In 1992, the Industry’s gross output was
estimated to be $3.5 trillion,over 12% of all Consumer spending
worldwide international tourism receipts rose by 6-7% in 1992
to $278 billion. The travel and tourism industry is the World’s
largest employer, with almost 130 million jobs, or almost 7%Of
all employees. This industry is the world’s leading industrial
Contri-butor,producing over 6% of the world gross national
product, and accounting for capital investment in excess of
$422 billion in new faci-lities and equipment. In addition, it
contributes almost $400 billion in direct,indirect and personal
taxes each year.Tourism is the major source of income for a
significant number of count-ries including

: 2 :

Italy,Spain,Switzerland, and most Caribean countries.All
countries who have accorded priority to tourism development
have Succeeded in attracting the targeted number of toursists.
Spain attracts more than 40 million tourists a year.Singapore
with relatively no tourism potential draws 7 to 8 million tourists
per year. Walt Disney World has over 25 million visitors per
year.

Tourism potential in India :

India potentially is the strongest tourism nation in the world.
India is Richly endowed with limitless scope for mountain
tourism,beach tourism,Historical tourism,cultural tourism,eco
tourism,(nature specific activities)And desert tourism.The
Himalays others unique prospects for the development of
skiing,skating,white water rafting,trekking and other adventure
tourism activities . The greatest adventure of all is scaling the
Himalayan peaks.
The Everest,Kunchenjunga and other mountain peaks offer
perennial Challenges for the mountaineering enthusiasts.

The Himalayas is unequalled by any other mountain range in
terms of Its sheer grandeur ,scenic beauty,variety of
flora,fauna,landscape and Other natural endowments. A
hundred million tourist visit the alps and Other mountain
ranges every year.In view of what the Himalayas has toOffer
and fact that they are located in the increasingly prosperous
Asia,It should be possible for us to draw a minium of 3 to 4
million tourists a Year to the Himalayas alone. In addition to its
natural advantages, it is Also home to some of the most
colourful people of india such as the hutias,sikkimese,Tibetians
and Nagas, each one of whom belongs to a Distinct race,each
with a different language,food,attire,music,dance,etc.also the
Buddhist monasteries,Hindu temples and the mystery
surrounding the Himalayas makes it extremely attractive to the
foreigntourist.The voletile Bay of Bengal and the serene
Arabian sea with their vast Coastlines have excellent beaches
unsoilt as yet by man. They provide Phenomenal scope for the
development of beach tourism.Nostalgia is big business in the
tourism industry. Our temples,forts,palace.

Apart from the tremendous potential for tourism, India has the
advent-age of low salaries and wages which will make it
possible for us to pro-vide personalized service to the visiting
tourists. Educated men and women can converse in English
effectively which will be a major advantage in promoting
international tourism.Development of Inbound Tourism in India
The increased international media coverage on India has
generated a lot Of Interest among foreign tourists. This interest
can be tapped by using the right mix of marketing and
providing the necessary services. Inter-national businessman
and professionals travelling to India have regis-tered a
significant growth in the last one year and this is bound to
increase in the coming months and years. These travelers can
be made to spend extra time in India on leisure and tourism
facilities.The economic reforms and liberalization makes it
possible for Indian And foreign companies to invest in the
development of infrastructure Including
aviation,power,roads,transport,coastal shipping etc.

But before going to take up the issue it is better to be
appointed with concept of Time Sharing Industry. As on Off-
spring of tourism would the concept is take up in the next
chapter.

: 8 :
C H A P T E R —– II : TIME SHARING INDUSTRIES —As A
CONCEPT

The Concept Time Sharing Industries mostly rotate around the
leisure time utilization better known as holiday utilization. A
Holiday is a period of relaxation,an excape from the daily
routine. Psychologists are of the opinion that holidays are a
vital component on one’s life, a chance for rest and
rejuvenation, rather than a luxury.Unfortunately, holidays are
expensive, and escalating costs make it diffi-Cult for more than
a few people to contemplate taking an annual holiday.
A lot of companies have come us to stand by the aspirants who
can Afford with megre income and ability. One of such
companies is Sterling.
Sterling has made the holiday affordable by introducing the
concept of
“Timeshare”.

The different types of Time Sharing schemes are as follows :

: 12 :

1. Property Timeshare

When an individual became a member of this scheme
he became a co-owner not only in the apartment he chose
but also the entire resort complex.
A portion of the price he paid goes towards a deposit for
operations And maintenance which is called ASCF
(Advance Subscription To-Wards Customer Facilities). This
means that his property will be Looked after year/ and
maintained in Prime condition for his use Year after at no
additional cost. The customer can also exchange it
With any other week,apartment or location which Sterling
owns Now or in the future.

1. Flexxiweek Timeshare

: 13 :

This product was sold from March 1991 to 1992 with a
view of Combining the best of both the fixed and floating
week timeshares.
While retaining the flexibility of the floating week, the
Flexiweek Timeshare also provides access every alternate
year to a prime time

Vacation during a fixed preallotted week.

1. Short Break timeshares

Inception :

This type of Timeshare was sold from May 1992 to
September 1993.

Concept :

The reason behind this product was that people who could
not afford to have a long holiday ( 6 nights/7 days ) could
have a shortone which was tailor-made for them.

: 14 :

Therefore the Short Break Timeshare of 2 nights/3 days
would be The right choice for them.

Target Group :

It was aimed at the Professionally busy individual, the
elderly and Children who are looking for a short break.

Projects :

Oety, Yercaud and Kodaikanal.

1. Exchange

This timeshare is only for Season and Classic periods
(Season can be Exchanged with Season/Classic while Classic
can be exchanged with Classic only).

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