Through detailed empirical analysis of a central area of Lisbon, this paper explores whether short-term rental platforms such as Airbnb channel investment in residential real estate and the way in ...which the local community is affected by the proliferation of apartments rented to visitors. Between 2015 and 2017 we conducted fine-grained fieldwork in the historical neighbourhood of Alfama and identified both the producers and socio-spatial consequences of short-term rentals. Our research did not find evidence of a sharing economy. Rather, it found a process of buy-to-let investment in which different players make profits from rents and displace residents with tourists. The paper develops two main arguments: first, we suggest that Airbnb acts as an instrument that contributes to the financialization of housing. Compared to the traditional rental market, short-term rentals offer a number of benefits that enhance market efficiency for property owners, making them increasingly attractive for both local and global investors. We found that the suppliers of short-term rentals are primarily investors who use housing as an asset to store capital. The main advantage of the short-term rental market for investors is that while they can make profits by renting properties to visitors, they can also sell them tenant-free at any moment. Second, Airbnb gives way to a hyper-flexible rental market that for tenants implies increasing insecurity and displacement concerns. We portray Airbnb as an example of buy-to-let gentrification that is experienced by residents as a process of social injustice.
In this paper, we assess the impact of Airbnb on housing rents and prices in the city of Barcelona. Examining very detailed data on rents and both transaction and posted prices, we use several ...econometric approaches that exploit the exact timing and geography of Airbnb activity in the city. These include i) panel fixed-effects models, where we run multiple specifications that allow for different forms of heterogeneous time trends across neighborhoods, ii) an instrumental variables shift-share approach in which tourist amenities predict where Airbnb listings will locate and Google searches predict when listings appear, iii) event-study designs, and iv) finally, we present evidence from Sagrada Familia, a major tourist amenity that is not found in the city centre. Our main results imply that for the average neighborhood, Airbnb activity has increased rents by 1.9%, transaction prices by 4.6% and posted prices by 3.7%. The estimated impact in neighborhoods with high Airbnb activity is substantial. For neighborhoods in the top decile of Airbnb activity distribution, rents are estimated to have increased by 7%, while increases in transaction (posted) prices are estimated at 17% (14%).
This study investigates the impact of green HRM (GHRM) on green competitive advantage (GCA), examining the mediating role of eco-innovation and the moderating role of green psychological climate ...(GPC). The study surveyed 472 fulltime employees in five-star hotels and travel agencies, developing and testing a five-hypothesis research model using PLS-SEM. Results revealed that GHRM positively impacts GCA and eco-innovation. Eco-innovation positively impacts GCA. In addition, GPC has a positive moderating influence on the relationship between GHRM and eco-innovation. Furthermore, Eco-innovation significantly mediates the relationship between GHRM and GCA.
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•Developed environmental degradation index (EDI) via principal component analysis.•Energy utilization intensity impedes environmental sustainability.•Technical development promotes ...environmental sustainability.•Economic openness and the foreign tourism industry improve environmental quality.•Provincial analysis provides varying environmental sustainability effects.
Since intensive energy utilization in open macro economies has posed severe environmental challenges, mitigation of climatic adversities can be substantiated by advancing the technical development of those economies. We attempt to empirically analyze the varying effects of energy utilization intensity, technical development, economic openness, and foreign tourism industry on environmental degradation across the development levels of Chinese provinces. We extend the following cutting-edge contributions to the existing knowledge: First, the energy utilization intensity, technical development, economic openness, and foreign tourism industry are included in the statistical and conceptual “Stochastic Impacts by Regression on Population, Affluence and Technology (STIRPAT)” framework. Second, the principal component analysis is employed on 30 Chinese provinces' data to calculate the multidimensional environmental degradation index. The long-run estimates are obtained by employing an advanced continuously-updated-bias-corrected technique (CUBCT). The core results are as follows: Energy utilization intensity displayed a positive and statistically significant impact on environmental degradation, with the greatest degree of impact captured for the highest development level provinces. Technical development inhibited environmental degradation, with the most intensive influence in highly developed provinces and the least intensive one in the least developed provinces. Economic openness and the foreign tourism industry manifested homogeneous inverse U-shape links with environmental degradation across the aggregate panels. However, both variables showed a diversified range of varying results across provincial units. Based on our results, we suggest complementing the energy efficiency promotion with energy conservation to avoid the energy rebound effect of technical development. Also, adjusting the energy structure to increase the share of renewables and mitigate that of fossil fuels are recommendable options. Besides, we emphasize the strengthening of trade in green products and the proliferation of sustainable tourism activities to achieve the Sustainable Development Goals of the United Nations.
The development process of the Singhasari Special Economic Zone (SEZ) in heritage tourism has not paid attention to socialization to residents. On the other hand, the COVID-19 pandemic has also ...affected its development. With this situation, this research aims to identify the community’s readiness of cultural activists and tourism actors in the Singhasari Special Economic Zone (SEZ). Through the concept of community readiness by searching and analyzing qualitative data, this research finds two important things; first, the community of cultural and tourism activists is still in the readiness level of vague awareness. This model of awareness stems from the distribution of unclear information. The research findings suggest that these communities only get information from gossip among themselves. Second, the COVID-19 pandemic, which slows down the development process, is interpreted as a punishment from God for the SEZ organizers. This interpretation relates to the lack of disclosure of public information regarding the SEZ development process. These two results show that there are symptoms of a crisis in developing sustainable tourism industry.
•The article proposes a two-stage interactive model.•The model explains innovative outcomes and the influence on the profitability.•The model demonstrates its validity and the importance of the ...explanatory variables.•A positive linear relationship between innovative outcomes and profitability exists.
Research on innovation in the tourism industry has gained relevance, and in recent years knowledge of this complex phenomenon has increased. The article proposes a two-stage interactive model based on innovative capability, environment and other contextual factors of firms, in order to explain first, the innovative outcomes in products and processes and, subsequently, the influence of these outcomes on the profitability of SMEs in the Andalusian hospitality industry. The model has undergone various hypothesis tests, thus demonstrating its validity, the importance of the main explanatory variables and the existence of a positive linear relationship between innovative outcomes in products and processes, and business profitability.
The article highlights the issues of developing a methodical approach to the analysis and assessment of the competitiveness capability of tourism industry (TI) entities. The main tasks of the study ...include the analysis of the existing methodical approaches to the assessment of the competitive potential (CP) of business entities and the level of TI development, the justification of the author's methodical approach based on the criteria of transformation of the CP, which allows to determine the level of balance between providers of tourist services and their consumers. The author's methodical approach to the analysis and assessment of the CP of the subjects of the TI is substantiated. The main features of the methodical approaches to assessing the competitive potential of TI entities (CPTIE) are the use of quantitative assessment methods, wide coverage of indicators, an assessment of the entity's strengths and weaknesses, its competitive advantages and relevant conditions for sustainable development, extensive use of the rank method. The proposed methodical model consists of 5 blocks: Block 1 – justification of research elements; Block 2 – determination of research areas; Block 3 – selection of indicators system; Block 4 – calculation of the integral index; Block 5 – transformation of the CPTIE depending on the level of balance/imbalance between suppliers and consumers of tourism services. Each of the blocks contains structural elements of analytical research. The results of the study indicate that the proposed methodical approach to the assessment and analysis of the CPTIE can be used as a basis for developing differentiated approaches to the assessment of transformational changes depending on the phase of their current state.
We investigate the relationship between a firm’s use of management responses and its online reputation. We focus on the hotel industry and present several findings. First, hotels are likely to start ...responding following a negative shock to their ratings. Second, hotels respond to positive, negative, and neutral reviews at roughly the same rate. Third, by exploiting variation in the rate with which hotels respond on different review platforms and variation in the likelihood with which consumers are exposed to management responses, we find a 0.12-star increase in ratings and a 12% increase in review volume for responding hotels. Interestingly, when hotels start responding, they receive fewer but longer negative reviews. To explain this finding, we argue that unsatisfied consumers become less likely to leave short indefensible reviews when hotels are likely to scrutinize them. Our results highlight an interesting trade-off for managers considering responding: fewer negative ratings at the cost of longer and more detailed negative feedback.
Data and the online appendix are available at
https://doi.org/10.1287/mksc.2017.1043
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The COVID-19 pandemic left a strong mark on the tourism sector and represents a turning point in its evolution. After the activities were gradually resumed, substantial shifts in both industry ...practices and tourist behavior were observed. The knowledge of these changes is of strategic importance for the future because they will determine the managerial decisions at the microeconomic level and the trends at the macroeconomic one. The present paper aims to discern the shifts in tourist behavior, as perceived by tourism companies, and to investigate how these changes influenced business decisions. This investigation was conducted as part of the CredinGreen international project– `Responding to tourism market changes caused by COVID-19 and the EU Green Deal through micro-credential-certified upskilling of SME tourism managers`. The research addresses the response to tourism market fluctuations generated by the pandemic conditions and the results could enhance the tourism policies and the micro-credential certified upskilling initiatives.
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