The real estate growth hypothesis in tourism destinations

Authors

  • José Francisco Perles-Ribes Department of Applied Economic Analysis, Faculty of Economics and Business Sciences University of Alicante. Email: jose.perles@ua.es https://orcid.org/0000-0001-7587-8035
  • Ana Rámon-Rodríguez Department of Applied Economic Analysis, Faculty of Economics and Business Sciences University of Alicante. Email: anar@ua.es
  • Teresa Torregrosa Department of Applied Economic Analysis, Faculty of Economics and Business Sciences University of Alicante. Email: teresa.torregrosa@ua.es
  • Martín Sevilla-Jiménez Department of Applied Economic Analysis, Faculty of Economics and Business Sciences University of Alicante. Email: martin.sevilla@ua.es

DOI:

https://doi.org/10.54055/ejtr.v37i.3236

Keywords:

Real estate development, tourism growth, non-linear causality analysis, asymmetries

Abstract

This article proposes and theoretically develops the Real Estate Growth Hypothesis concept. It empirically investigates the connection between the expansion of tourism and the progress of real estate in Calp, an established tourist hotspot situated on the Mediterranean coast of Spain. Using annual data for the period 1967-2019 and a time series methodology that considers the possible nonlinearity of the relationship, the article draws conclusions from local and long-term perspectives. The results indicate that tourism causes real estate development, but only in the case of positive shocks. In view of this result, practical implications are outlined, and suggestions are made for managing tourist destinations.

Downloads

Published

2024-04-12

How to Cite

Perles-Ribes, J. ., Ramón Rodríguez, A., Torregrosa, T., & Sevilla Jiménez, M. (2024). The real estate growth hypothesis in tourism destinations. European Journal of Tourism Research, 37, 3704. https://doi.org/10.54055/ejtr.v37i.3236