Role of tourism and hotel accommodation in house prices

This paper investigates the influence of tourism and hotel accommodation on housing prices in 27 EU countries over the period from 2005 to 2018. The results of dynamic panel data confirmed the significant influence of standard housing prices determinants: economic growth, unemployment and credit to...

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Bibliographic Details
Published in:Annals of tourism research empirical insights 2022-05, Vol.3 (1), p.100036-9, Article 100036
Main Authors: Perić, Blanka Škrabić, Smiljanić, Ana Rimac, Kežić, Iva
Format: Article
Language:English
Subjects:
EU-SILC
Freizeitforschung
Freizeitsoziologie
Hotel accommodation
House prices
Housing affordability
Peer-to-peer accommodation
Sozialwissenschaften, Soziologie
Tourism
Tourismus
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Summary:This paper investigates the influence of tourism and hotel accommodation on housing prices in 27 EU countries over the period from 2005 to 2018. The results of dynamic panel data confirmed the significant influence of standard housing prices determinants: economic growth, unemployment and credit to the private sector, whilst the population does not play a significant role. Our results empirically confirmed that tourism significantly increases housing prices regardless of used indicators. However, our main finding was that hotel accommodation plays a role as a buffer of the growth in housing prices caused by tourism. Obtained results provided evidence of interconnections among tourism, hotel accommodation and housing prices at a national level. •Paper investigates the impact of tourism and hotel accommodation on house prices.•Hotels play a role as a buffer to the growth in housing prices caused by tourism.•Tourism significantly increases housing prices regardless of used indicators.•Policies that will increase the affordability of housing by new hotels are needed.•Local population is no longer the determinant of housing prices in EU countries.
ISSN:2666-9579
2666-9579
DOI:10.1016/j.annale.2022.100036