The impacts of cross-border tourists on local retail property market: an empirical analysis of Hong Kong

Li, Ling Hin; Cheung, Ka Shing; Han, Sue Yurim

doi:10.1080/09599916.2018.1511628

Cited by 16 publications

(19 citation statements)

References 30 publications

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“…Subsequently, from the start of the "multiple-entry permit" policy to its suspension in 2015, these prices rose by a further 220%. This trend partly revealed a strong impact of cross-border visitors on demand for retail properties (Li, Cheung & Han, 2018). 6 Having provided the background to the multiple-entry permit policies in Hong Kong and its significant influence on visitor-resident irritants, we now turn to our empirical study, which documents the deteriorating attitudes (or irritation) among locals in Hong Kong towards Mainland Chinese visitors.…”

Section: Hysteresis In Overtourism With the Case Of Hong Kongmentioning

confidence: 99%

Understanding visitor–resident relations in overtourism: developing resilience for sustainable tourism

Cheung

2019

Journal of Sustainable Tourism

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152

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While almost all travel destinations seek to increase tourists, less attention is paid to balancing the growth in tourists against consequent visitor-resident irritants, which is essential if the objective is to make tourism more sustainable. Overlooking the carrying capacity of a destination is a common mistake committed when formulating travel visa policies. Overtourism is a term recently used to contextualize this potential hazard to many popular tourist destinations worldwide. One notable case in point is the "multiple-entry permit" policy implemented in Hong Kong which is causing conflicts between mainland Chinese visitors and Hong Kong residents. To investigate the overtourism phenomenon in Hong Kong we develop a hysteresis model. We hypothesized that ceteris paribus, the implementation of a "multiple-entry permit" policy would lead to an overwhelming growth in day-trippers and cause a permanently negative cointegrating relationship with residents' sentiment. We confirmed our hypothesis by using the bound tests of Autoregressive-Distributed Lag models. Our findings suggest that policymakers should note that the deterioration in visitor-resident relations from overtourism may exhibit a significant hysteresis effect that will persist far beyond the original stimulus. "Developing resilience in tourism" and "exploring sustainable degrowth" are discussed as potential strategies for long-term tourism growth.

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Section: Hysteresis In Overtourism With the Case Of Hong Kongmentioning

confidence: 99%

Understanding visitor–resident relations in overtourism: developing resilience for sustainable tourism

Cheung

2019

Journal of Sustainable Tourism

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152

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“…Existing literature, however, has inadequately delved into the linkages. Three exceptions are the work of Li et al [12], Yang et al [13], and Jayantha and Yung [14]. Li et al [12] utilized the street-level retail property transaction data to examine the impacts of cross-border tourist shoppers on the retail property market of Hong Kong and found that the policy Multiple-entry Permit leads to the increase in the prices of retail properties, especially those in young age and of large floor area.…”

Section: Introductionmentioning

confidence: 99%

“…Three exceptions are the work of Li et al [12], Yang et al [13], and Jayantha and Yung [14]. Li et al [12] utilized the street-level retail property transaction data to examine the impacts of cross-border tourist shoppers on the retail property market of Hong Kong and found that the policy Multiple-entry Permit leads to the increase in the prices of retail properties, especially those in young age and of large floor area. Yang et al [13] adopted standard and error-correction-model-based Granger causality tests to examine the relationships between tourism development and retail property prices between 2002Q1 and 2014Q4 in Hong Kong.…”

Section: Introductionmentioning

confidence: 99%

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

2020

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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.

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“…Based on retail studies on shopping motivation and tourism research on viewing cross‐border shopping as leisure activities, Yuan, Fowler, Goh, and Lauderdale () examined the patterns of cross‐border consumption of Mexican tourist shoppers to the United States, and they found cross‐border shopping by Mexicans to the United States as a combination of two aspects: the utilitarian and pleasurable shopping experiences, or both functional and recreational. Another special type of cross‐border shopping is seen as “parallel trading activities” such as Chinese cross‐border tourists to Hong Kong carrying products from Hong Kong to Mainland China for resale (Li, Cheung, & Han, ). More importantly, two recent tourism studies (Hadjimarcou, Herrera, & Salazar, ; Sharma, Chen, & Luk, ) claimed that cross‐border tourists contributed equally to the internationalisation of trade.…”

Section: Literature Reviewmentioning

confidence: 99%

“…In addition, the definition of cross-border tourism may include overnight stays, unlike conventionally defined international tourism (Hampton, 2010). Timothy and Tosun (2003) claimed that cross-border tourism between neighbouring states is relatively unexplored in the literature, Another special type of cross-border shopping is seen as "parallel trading activities" such as Chinese cross-border tourists to Hong Kong carrying products from Hong Kong to Mainland China for resale (Li, Cheung, & Han, 2018). More importantly, two recent tourism studies (Hadjimarcou, Herrera, & Salazar, 2017;Sharma, Chen, & Luk, 2018) claimed that cross-border tourists contributed equally to the internationalisation of trade.…”

Section: Literature Reviewmentioning

confidence: 99%

Cross‐border tourism: Case study of inbound Russian visitor arrivals to China

Chow

Tsui

2019

Journal of Tourism Research

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Cross‐border tourism between Russia and China has increased over the past two decades, but few studies examine this development. This study uses the gravity model to investigate whether the tourism‐related, political, transport infrastructure‐related, and socio‐economic factors influence Russian visitors to China. The findings show that Russian visitors across the border to visit China are attributed to the Chinese prefectural‐level cities' real gross domestic product and export volumes, as well as transport infrastructure to connect Russian visitors to Chinese destinations. A clear knowledge of these factors allow both governments to formulate policies in facilitating visitor flows and more business activities across the border.

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The impacts of cross-border tourists on local retail property market: an empirical analysis of Hong Kong

Cited by 16 publications

References 30 publications

Understanding visitor–resident relations in overtourism: developing resilience for sustainable tourism

Understanding visitor–resident relations in overtourism: developing resilience for sustainable tourism

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

Cross‐border tourism: Case study of inbound Russian visitor arrivals to China

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