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GLOBAL vacation exchange provider DAE recognised Asia as the largest potential market for vacation ownership at a mid-October Hong Kong conference.
DAE CEO Francis Taylor said at the Alternative Ownership Conference Hotels and Resorts – Asia Pacific (AOCAP) event the Gold Coast-based company was prepared to meet the challenges and opportunities posed by the market.
“Asia is now established as the world’s major growth market for tourism and leisure,” said Mr Taylor.
“There is no doubt, with the sheer size and demographic of the Asian region, they will also be the largest vacation ownership market in the world.
“DAE is already well-positioned in Asia, with three offices located in Thailand, China and India witnessing first-hand the increasing demand from both domestic consumers and industry, and the peaking interest in Asia as a destination.
“To develop strongly and sustainably, however, vacation ownership in Asia requires a whole-of-industry approach, and cooperation from varying forms of government in the region.
“With the right regulation in place from the beginning, the industry can hit the ground running in Asia, allowing vacation ownership and exchange to thrive, rather than experience the rocky start that occurs in so many new markets.”
The conference’s Building the Platform For Growth theme explored emerging consumer and destination trends, the case for regulation, and the future prospects for resort development and shared ownership across Asia.
DAE Thailand director Daniel Chou said he found it interesting to hear industry leaders share their perspectives on how China and the Association of Southeast Asian Nations (ASEAN) were driving tourism growth and requirements for being part of the resulting successes.
And India regional head Prakash Balachandran agreed, saying the well attended conference was very encouraging through its positivity and increasing interest in Asia and China.
“There were a lot of meaningful discussions on doing business in an ethical and proper manner, which is the way DAE always does business,” Balachandran said.
DAE China head Yang Chen said the conference provided a valuable insight into exactly how China and other Asian countries were growing in the marketplace.
“The conference highlighted the future trends of the vacation ownership industry both in terms of product development and sales and marketing,” he said.
“DAE, as a leading worldwide exchange company, will continue its efforts to contribute to the growth of this industry.”
Taylor concluded “the opportunity is already upon us”.
“The benefits of vacation ownership to the economy are well known – from the money generated through sales and products being built, to attracting tourists – who in turn spend money and create employment.
“It’s a win-win and now is the time to work hard to get it right for this most important market.”
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