A TOURIST industry executive says the timeshare concept is expected to stimulate economic growth in times of political and economic instability in the country.
Jim Sherlock, chair of the Pacific Harbour Tourism Association says there are only four timeshare ventures and so far they has proved to be a success being the fastest growing segment of the tourism industry worldwide.
The Fiji Palms Beach Club and Resort is the oldest and largest timeshare apartment in the country with more than 400 owners across the globe from England to the remotest parts of the United States.
On Wednesday, Fiji Palms opened its new extension of 26 two-bedroom units at a total cost of $3.5 million at Pacific Harbour from the 14 units it previously had.
Mr Sherlock said Fiji Palms' extension demonstrated investors still had faith in the timeshare concept and it was the best way of stimulating the economy to counter the global financial crisis.
Mr Sherlock, who is also the owner of The Lagoon Resort in Deuba, said the concept was not easily influenced by political and economic instability.
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