IDEAS home Printed from https://ideas.repec.org/a/gam/jjrfmx/v16y2023i6p301-d1172721.html
   My bibliography  Save this article

The Impacts of Shopping Tourism on Retail Sales and Rents: Lessons from the COVID-19 Quasi-Experiment of Hong Kong

Author

Listed:
  • Chung Yim Yiu

    (Department of Property, Business School, The University of Auckland, Auckland 1010, New Zealand)

Abstract

This research studies the impact of shopping tourism on retail sales and rents, using the COVID-19 pandemic as a quasi-experiment. Shopping tourism refers to individuals who travel primarily for shopping purposes, and their spending patterns can have significant effects on the retail sector. The COVID-19 pandemic disrupted global travel and resulted in a decline in shopping tourist arrivals, leading to a downturn in sales for retailers dependent on shopping tourism. Additionally, the decline in shopping tourism affected retail rents, as the reduced demand for retail spaces posed challenges for property owners in attracting tenants. The study focuses on Hong Kong, a prominent shopping destination, which experienced a significant decline in tourist arrivals and retail sales during the pandemic. The research analyses the relationship between tourist arrivals, retail sales, and rents using time series analysis and identifies the impact of shopping tourism on retail rents. The findings suggest a positive association between tourist arrivals and retail sales and rents, particularly during the period of shopping tourism growth. However, the pandemic severely reduced this effect, revealing the impact of shopping tourists on the retail sector. The study concludes by discussing the implications for retail resilience and highlighting the need for further research on the impacts of shopping tourism on retail sales and rents.

Suggested Citation

  • Chung Yim Yiu, 2023. "The Impacts of Shopping Tourism on Retail Sales and Rents: Lessons from the COVID-19 Quasi-Experiment of Hong Kong," JRFM, MDPI, vol. 16(6), pages 1-13, June.
    • Handle: RePEc:gam:jjrfmx:v:16:y:2023:i:6:p:301-:d:1172721
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1911-8074/16/6/301/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1911-8074/16/6/301/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Sotiris Tsolacos, 1995. "An Econometric Model of Retail Rents in the United Kingdom," Journal of Real Estate Research, American Real Estate Society, vol. 10(5), pages 519-530.
    2. Silva, Emmanuel Sirimal & Hassani, Hossein, 2022. "‘Modelling’ UK tourism demand using fashion retail sales," Annals of Tourism Research, Elsevier, vol. 95(C).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yueyi Tan & Jusheng Song & Lei Yu & Yunxi Bai & Jianfeng Zhang & Man-Ha (Sylvia) Chan & Jeroen van Ameijde, 2024. "The Mechanism of Street Markets Fostering Supportive Communities in Old Urban Districts: A Case Study of Sham Shui Po, Hong Kong," Land, MDPI, vol. 13(3), pages 1-26, February.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Catherine Jackson, 2002. "Classifying Local Retail Property Markets on the Basis of Rental Growth Rates," Urban Studies, Urban Studies Journal Limited, vol. 39(8), pages 1417-1438, July.
    2. Catherine Jackson & Craig Watkins, 2005. "Planning Policy and Retail Property Markets: Measuring the Dimensions of Planning Intervention," Urban Studies, Urban Studies Journal Limited, vol. 42(8), pages 1453-1469, July.
    3. Terence Tai‐Leung Chong & Alex Wing‐Ho Yiu, 2019. "Nexus between visitor arrivals and residential property rents in Hong Kong," Pacific Economic Review, Wiley Blackwell, vol. 24(3), pages 464-478, August.
    4. Arvydas Jadevicius & Brian Sloan & Andrew Brown, 2012. "Examination of property forecasting models - accuracy and its improvement through combination forecasting," ERES eres2012_082, European Real Estate Society (ERES).
    5. Tsung-Hung Lee & Chung-Jen Fu & Mei-Hsiang Chen, 2023. "Elucidating International Travelers’ Tourism Image of Taiwan: A Qualitative Approach," Sustainability, MDPI, vol. 15(3), pages 1-16, January.
    6. Catherine Jackson & Craig Watkins, 2007. "Supply-Side Policies and Retail Property Market Performance," Environment and Planning A, , vol. 39(5), pages 1134-1146, May.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jjrfmx:v:16:y:2023:i:6:p:301-:d:1172721. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.