scholarly journals Impacts of Tourism Demand on Retail Property Prices in a Shopping Destination

2020 ◽  
Vol 12 (4) ◽  
pp. 1361 ◽  
Author(s):  
Yan Liu ◽  
Linchuan Yang ◽  
Kwong Wing Chau
Keyword(s):  
Hong Kong ◽  
Mainland China ◽  
Hedonic Pricing ◽  
Tourism Demand ◽  
Price Effect ◽  
Tourist Destinations ◽  
Property Prices ◽  
Before And After ◽  
Retail Property ◽  
Implicit Prices

Understanding the relationship between tourism demand and retail property prices is of great significance to tourist destinations, especially shopping destinations. The increase in tourism demand may alter the implicit prices of certain retail property characteristics (e.g., age and accessibility to transit). This study examines how tourism demand (measured by tourist volume) affects retail property prices in the tourist precinct of a shopping destination, namely Hong Kong. The implementation of the policy Individual Visit Scheme (IVS) in 2003 in Hong Kong has substantially increased tourist shoppers from Mainland China, and it is used as a quasi-natural experiment of the increased tourist volume. Spatial and non-spatial hedonic pricing models are developed based on the ground-floor retail property transaction data of Causeway Bay, Hong Kong before and after the IVS (1993–2011). The findings of this study are as follows. (1) Accessibility to transit has a larger positive price effect after the implementation of the IVS. (2) The implicit price of accessibility to accommodation facilities is not significantly altered by the implementation of the IVS. (3) Age has a larger negative price effect after the implementation of the IVS. The first two outcomes are related to the economic concerns of tourist shoppers, while the last can be explained by their hometown experience. Finally, practical implications are discussed.

Spatial-temporal disparities in the impact of the coronavirus disease 2019 on domestic tourism demand: A study of Emeishan National Park in Mainland China

2021 ◽  
pp. 135676672110533
Author(s):  
Ting Tan ◽  
Jianping Zha ◽  
Jianying Tang ◽  
Rong Ma ◽  
Wenjia Li
Keyword(s):  
National Park ◽  
Web Search ◽  
Mainland China ◽  
Small Scale ◽  
Tourism Demand ◽  
Long Distance ◽  
Health Crisis ◽  
Domestic Tourism ◽  
Before And After ◽  
The Impact

The ongoing coronavirus disease 2019 pandemic, like other disasters or crises, can immensely influence visitors’ demand to visit affected destinations. The current study helps us better understand how this health crisis could affect the demand change from a micro-level perspective of small-scale tourist destinations. Based on the web search data from the Baidu Index, the present study adopts the Emeishan National Park in China as the study area and employs multiple methods to assess the spatial-temporal disparities in the impact of the coronavirus disease 2019 on domestic tourism demand. The main findings reveal that the demand changes during the observation period resemble a U-shaped curve along with the outbreak, spread, and control of the crisis, and such impacts exhibit different characteristics in the pre-event, prodromal, emergency, intermediate, and long-term recovery stages. During and after the pandemic, the short-distance market is the most vulnerable, but it presents the strongest resilience, while the medium- and long-distance markets are relatively less affected. Significant stratified heterogeneity in the tourism demand of domestic source markets also emerges before and after the crisis. Finally, some implications of promoting domestic tourism recovery in the post-pandemic era are discussed, and recommendations are made.

The Impact of Climate Variables on Seasonal Variation in Hong Kong Inbound Tourism Demand

2016 ◽  
Vol 56 (1) ◽  
pp. 94-107 ◽  
Author(s):  
Hanqin Qiu Zhang ◽  
Nada Kulendran
Keyword(s):  
Hong Kong ◽  
Seasonal Variation ◽  
Dominant Role ◽  
Country Of Origin ◽  
Mainland China ◽  
Climate Variables ◽  
Tourism Demand ◽  
Relative Temperature ◽  
Inbound Tourism ◽  
The Impact

In this study, we quantify the link between climate variables, such as temperature, rainfall, humidity, number of tropical cyclones, and number of thunderstorms, and seasonal variation in the Hong Kong inbound tourism demand from mainland China, Taiwan, South Korea, and Japan using the average Euclidean distance (AED) statistics and tourism demand modeling approach. Seasonal variation is measured as the fluctuation in the number of tourists from one season to another. Based on the smallest AED value, results of this study showed that climate variables play a dominant role in shaping seasonal variation relative to season and country. The fluctuation of tourist numbers from one season to another is determined not only by climate variables (e.g., the temperature of Hong Kong vs. the temperature in the country of origin of the tourist) but also by economic factors, including price and income. The variation in the impact of relative temperature depends on the country of origin.

scholarly journals International Real Estate Review

2020 ◽  
Vol 23 (3) ◽  
pp. 367-395
Author(s):  
Helen X. H. Bao ◽  
◽  
Doris Ka Chuen Mok ◽  
Keyword(s):  
Hong Kong ◽  
High Speed ◽  
Hedonic Pricing ◽  
Policy Implications ◽  
Repeat Sales ◽  
Hedonic Price ◽  
High Speed Rail ◽  
Value Capture ◽  
Property Prices ◽  
East West

This study examines the impacts of the Guangzhou-Shenzhen-Hong Kong Express Rail Link on the residential property prices in West Kowloon, in which the terminus and only station of the Hong Kong section of the high-speed rail link is located. The express rail is characterised as being a link between Hong Kong and her motherland, China, which is a major source of buyers of property in Hong Kong. We investigate if there is an east-west connection premium introduced by the project by examining the spatial and temporal changes of property prices in the affected areas. Based on a sample of 282,131 transactions, this study uses the hedonic pricing and repeat sales models to examine whether property prices in West Kowloon have increased because of the development of the high-speed rail which signifies a link between Hong Kong and China and whether they have dropped because of the 2019 political movements which emphasize a decoupling. We find significant and consistent evidence to support these hypotheses from both the hedonic price and repeat sales models. The accessibility premium has been capitalised into property prices since the announcement of the project, and the size of the premium is the largest during the announcement period. However, the east-west connection premium is significantly offset by the recent events of political unrest, with properties that are located nearest the West Kowloon Station being the most affected. We derive policy implications regarding practical implications for the design and implementation of land value capture schemes and urban planning.

scholarly journals LOCALE-VARYING RELATIONSHIPS BETWEEN TOURISM DEVELOPMENT AND RETAIL PROPERTY PRICES IN A SHOPPING DESTINATION

2020 ◽  
Vol 24 (5) ◽  
pp. 323-334
Author(s):  
Linchuan Yang ◽  
K.W. Chau ◽  
Yi Lu ◽  
Xu Cui ◽  
Fanyu Meng ◽  
...  
Keyword(s):  
Hong Kong ◽  
Granger Causality ◽  
Tourism Development ◽  
Correction Model ◽  
Property Prices ◽  
Shopping Area ◽  
Causality Tests ◽  
Retail Property ◽  
Granger Causality Tests ◽  
The Relationship

Existing literature has inadequately examined the nexus between tourism and property prices. Additionally, it mainly focuses on hotels and housing, thereby overlooking other property categories (e.g., retail properties). The relationship between tourism development and retail property prices in shopping destinations (e.g., Hong Kong and Singapore) may hinge on the locale. More specifically, the relationship may be different in the tourist precinct or popular tourism shopping area (PTSA) and the unpopular tourism shopping area (UTSA). This study examines locale-varying relationships between tourism development (measured by tourist volume and tourism expenditure) and retail property prices from 2002Q1 to 2014Q4 in Hong Kong using standard and error-correction-model-based (ECM-based) Granger causality tests. Results of standard Granger causality tests indicate that tourism development Granger causes the increase in retail property prices in the PTSA but not in the UTSA. Moreover, results of ECM-based Granger causality tests further verify the robustness and plausibility of the tourism-led growth (in retail property prices) hypothesis in the PTSA. In other words, we find that tourism development measures can be used to better predict changes in retail property prices in the PTSA than simply referring to the price history.

scholarly journals "Chinesenesses" Outside Mainland China: Macao and Taiwan through Post-1997 Hong Kong Cinema

2012 ◽  
Vol 4 (2) ◽  
pp. 297-325 ◽  
Author(s):  
Hilary Hongjin He
Keyword(s):  
Hong Kong ◽  
Mainland China ◽  
Greater China ◽  
Plural Form ◽  
Hong Kong Cinema ◽  
Special Part ◽  
Chinese Societies ◽  
Before And After ◽  
The Impact ◽  
Changing Role

By examining the filmic representation of Macao and Taiwan in Hong Kong films, mostly released after the 1997 sovereignty transfer, this paper will address the notion of Chineseness in its plural form as associated with different Chinese societies. The purpose is to bring attention to the cosmopolitan side of Chineseness in Hong Kong cinema rather than the mere influence from the Mainland (PRC). I will argue that it is this pluralised, composite Chineseness reflected in Hong Kong cinema that has reinforced its very “Hong Kong-ness” against the impact from the “orthodox” Chineseness of the Mainland. Through a combination of textual and contextual analyses of selected Hong Kong diaspora films respectively set in Macao and Taiwan, this paper aims to provide a general understanding of the imbrications of various Chinese societies within Greater China and, most importantly, the changing role and position of Hong Kong (cinema) within this conceptual China as “one country” before and after it became a special part of the PRC.

Trade Ties between Hong Kong and Mainland China

Asian Survey ◽  
1970 ◽  
Vol 10 (9) ◽  
pp. 820-839
Author(s):  
Patrick Yeung
Keyword(s):  
Hong Kong ◽  
Mainland China
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