Timeshares In Europe
January 22, 2006
Our Comments: Sales of timeshares in Europe seem to be even seedier than in the US (if that can be imagined). In the end it's a business that seems to attract criminal elements and it goes to show that the entire timeshare industry is one where scam artists thrive.
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They once offered holidaymakers the dream of their own place in the sun. But years of bad press about scams, violence and corruption has shattered consumer confidence in timeshares to such an extent that the industry may be in terminal decline, a report obtained by The Observer reveals.
With sales falling, many leading companies in the industry are reporting losses. And the law has failed to keep up with the rogue traders, with reports that local police in Spain and Portugal have been bribed to turn a blind eye to any complaints from wronged customers...
A report by the Timeshare Consumers' Association describes an industry in crisis. It warns: 'Unless action is taken soon which will result in a recovery of consumer confidence there is every possibility that sales of timeshare in Europe will cease in the foreseeable future...'
The TCA's report found: 'The timeshare industry has sought to enhance its profits by applying corruption and bribery at all levels. Individual timeshare owners are targeted - wined and dined - to encourage them to act as "independent" endorsers of the product...
'Fraud against consumers has increased in intensity, sophistication and spread during the last year. More companies are now acting fraudulently, with more complex and clever frauds against more people. And some of the newer entrants to the fraud game are those businesses which, until a couple of years ago, were regarded as being respectable... Full Article
Our Comments: Sales of timeshares in Europe seem to be even seedier than in the US (if that can be imagined). In the end it's a business that seems to attract criminal elements and it goes to show that the entire timeshare industry is one where scam artists thrive.
They once offered holidaymakers the dream of their own place in the sun. But years of bad press about scams, violence and corruption has shattered consumer confidence in timeshares to such an extent that the industry may be in terminal decline, a report obtained by The Observer reveals.
With sales falling, many leading companies in the industry are reporting losses. And the law has failed to keep up with the rogue traders, with reports that local police in Spain and Portugal have been bribed to turn a blind eye to any complaints from wronged customers...
A report by the Timeshare Consumers' Association describes an industry in crisis. It warns: 'Unless action is taken soon which will result in a recovery of consumer confidence there is every possibility that sales of timeshare in Europe will cease in the foreseeable future...'
The TCA's report found: 'The timeshare industry has sought to enhance its profits by applying corruption and bribery at all levels. Individual timeshare owners are targeted - wined and dined - to encourage them to act as "independent" endorsers of the product...
'Fraud against consumers has increased in intensity, sophistication and spread during the last year. More companies are now acting fraudulently, with more complex and clever frauds against more people. And some of the newer entrants to the fraud game are those businesses which, until a couple of years ago, were regarded as being respectable... Full Article
posted by savingadvice @ 3:13 PM
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