Pregled bibliografske jedinice broj: 1251211
Does Tourism Affect House Prices? Evidence from Croatia
Does Tourism Affect House Prices? Evidence from Croatia // Proceedings of FEB Zagreb 13th International Odyssey Conference on Economics and Business / Sever Mališ, Sanja ; Jaković, Božidar ; Načinović Braje, Ivana (ur.).
Zagreb: Ekonomski fakultet Sveučilišta u Zagrebu, 2022. str. 1153-1165 doi:10.22598/odyssey/2022.4 (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), znanstveni)
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Naslov
Does Tourism Affect House Prices? Evidence from
Croatia
Autori
Šimek, Antonija ; Franov, Lovre ; Krce Miočić, Božena
Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni
Izvornik
Proceedings of FEB Zagreb 13th International Odyssey Conference on Economics and Business
/ Sever Mališ, Sanja ; Jaković, Božidar ; Načinović Braje, Ivana - Zagreb : Ekonomski fakultet Sveučilišta u Zagrebu, 2022, 1153-1165
Skup
13th International Odyssey Conference on Economics and Business
Mjesto i datum
Dubrovnik, Hrvatska, 01.06.2022. - 04.06.2022
Vrsta sudjelovanja
Predavanje
Vrsta recenzije
Međunarodna recenzija
Ključne riječi
house prices ; tourism ; Croatia
Sažetak
Tourism has been a major socio-economic growth engine for countries with varying levels of economic development in the last few decades. Regardless of all benefits, tourism activity can bring specific effects that negatively affect the regions or countries in which it plays a significant economic role. One of those is higher housing prices that can lead to affordability and tourism gentrification problems if corresponding income increases do not accompany price increases. This paper uses dynamic regression analysis to examine the relationship between nights spent at tourist accommodation establishments and house price index for the period from the first quarter of 2005 to the second quarter of 2021 in Croatia. The study employs an inverted demand approach to model house prices, and its analysis accounts for standard house price determinants. The results show many deviations from the relationship predicted by the theoretical model. Of the standard determinants of housing prices, only the price from the previous period showed high statistical significance confirming the assumption of price persistence in the housing market, while the demand for housing proved to be statistically significant, but with a sign that is not in line with economic theory. The primary variable of interest, nights spent at tourist accommodation establishments, did not prove statistically significant to explain variations in housing.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
