Spatial spillovers of tourism activity on housing prices: The case of Croatia

IF 3.6 3区管理学 Q1 ECONOMICS

Tourism Economics Pub Date : 2023-08-01 DOI:10.1177/13548166221106442

Maruška Vizek, N. Stojčić, Josip Mikulić

{"title":"Spatial spillovers of tourism activity on housing prices: The case of Croatia","authors":"Maruška Vizek, N. Stojčić, Josip Mikulić","doi":"10.1177/13548166221106442","DOIUrl":null,"url":null,"abstract":"The tourism effects on housing prices within cities and regions have been analyzed in the literature, but there is a lack of evidence on the spatial effects of these processes. In areas hit by overtourism, house price hikes have the potential of spillovers to adjacent cities and towns as well as across wider space. Our study widens existing knowledge on the tourism-housing relationship by exploring the existence and extent of spatial spillovers from tourism-intensive cities and towns on housing prices of neighboring areas. A Durbin spatial autoregression panel model is applied on a population of cities and towns from Croatia, one of the small tourism-driven European economies during the 2012–2019 period. Different spatial weight matrices are applied to the model to explore the spatial reach of effects. Our findings, robust to the use of different tourism activity proxies, provide support to the existence of spatial spillover effects. The strongest effects of tourism on housing prices within and between cities come through the conversion of housing stock in rental properties rather than through the increase of private accommodation share in total accommodation capacities. Particularly strong effects are found once full spatial correlation is taken into account.","PeriodicalId":23204,"journal":{"name":"Tourism Economics","volume":"29 1","pages":"1376 - 1390"},"PeriodicalIF":3.6000,"publicationDate":"2023-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Tourism Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1177/13548166221106442","RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}

引用次数: 3

Abstract

The tourism effects on housing prices within cities and regions have been analyzed in the literature, but there is a lack of evidence on the spatial effects of these processes. In areas hit by overtourism, house price hikes have the potential of spillovers to adjacent cities and towns as well as across wider space. Our study widens existing knowledge on the tourism-housing relationship by exploring the existence and extent of spatial spillovers from tourism-intensive cities and towns on housing prices of neighboring areas. A Durbin spatial autoregression panel model is applied on a population of cities and towns from Croatia, one of the small tourism-driven European economies during the 2012–2019 period. Different spatial weight matrices are applied to the model to explore the spatial reach of effects. Our findings, robust to the use of different tourism activity proxies, provide support to the existence of spatial spillover effects. The strongest effects of tourism on housing prices within and between cities come through the conversion of housing stock in rental properties rather than through the increase of private accommodation share in total accommodation capacities. Particularly strong effects are found once full spatial correlation is taken into account.

查看原文本刊更多论文

旅游活动对房价的空间溢出效应：以克罗地亚为例

文献中分析了旅游业对城市和地区房价的影响，但缺乏关于这些过程的空间效应的证据。在受过度旅游影响的地区，房价上涨有可能波及邻近的城镇以及更广阔的空间。我们的研究通过探索旅游密集型城镇对邻近地区房价的空间溢出的存在和程度，拓宽了现有的旅游-住房关系知识。Durbin空间自回归面板模型应用于克罗地亚的城镇人口，克罗地亚是2012-2019年期间由旅游业驱动的欧洲小型经济体之一。将不同的空间权重矩阵应用于模型，以探索效应的空间范围。我们的研究结果对不同旅游活动指标的使用是稳健的，为空间溢出效应的存在提供了支持。旅游业对城市内部和城市之间房价的最大影响来自于出租房地产中住房存量的转换，而不是私人住房在总住房容量中所占份额的增加。一旦考虑到全空间相关性，就会发现特别强的影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Tourism Economics Multiple-

CiteScore

9.30

自引率

11.40%

发文量

期刊介绍： Tourism Economics, published quarterly, covers the business aspects of tourism in the wider context. It takes account of constraints on development, such as social and community interests and the sustainable use of tourism and recreation resources, and inputs into the production process. The definition of tourism used includes tourist trips taken for all purposes, embracing both stay and day visitors. Articles address the components of the tourism product (accommodation; restaurants; merchandizing; attractions; transport; entertainment; tourist activities); and the economic organization of tourism at micro and macro levels (market structure; role of public/private sectors; community interests; strategic planning; marketing; finance; economic development).