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

TitleThe impacts of cross-border tourists on local retail property market: an empirical analysis of Hong Kong
Authors
KeywordsCross-border shoppers
border entry control
tourism policy
retail property market
Issue Date2018
PublisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/09599916.asp
Citation
Journal of Property Research, 2018 How to Cite?
AbstractHong Kong as a small city has witnessed a drastic change in the number of short-stay and same-day tourists from Mainland China ever since the relaxation of the tourism policy began in the early 2000’s. This study examines the impacts on the prices of retail space attributed to the substantial increase of cross-border shoppers. Based on a comprehensive retail property transaction records in Hong Kong and a semi-log regression model, our study confirms a positive impact of the number of cross-border shoppers on retail property prices, especially on the value of newer and larger-sized street-level retail shops. Moreover, we find that the effects brought on the retail property market are city-wide and not limited to specific districts which are relatively closer to the border with Shenzhen and with a higher degree of accessibility by these cross-border shoppers. This paper is limited by a number of assumptions including travel distance of the shoppers from Shenzhen. Nevertheless, with an increase in personal travels by the affluent Mainland Chinese citizens who usually spend a lot on shopping outside China, future studies can be made in other North American or European cities for comparison.
Persistent Identifierhttp://hdl.handle.net/10722/259454
ISSN
2020 SCImago Journal Rankings: 0.376
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorLi, LH-
dc.contributor.authorCheung, KS-
dc.contributor.authorHan, Y-
dc.date.accessioned2018-09-03T04:07:39Z-
dc.date.available2018-09-03T04:07:39Z-
dc.date.issued2018-
dc.identifier.citationJournal of Property Research, 2018-
dc.identifier.issn0959-9916-
dc.identifier.urihttp://hdl.handle.net/10722/259454-
dc.description.abstractHong Kong as a small city has witnessed a drastic change in the number of short-stay and same-day tourists from Mainland China ever since the relaxation of the tourism policy began in the early 2000’s. This study examines the impacts on the prices of retail space attributed to the substantial increase of cross-border shoppers. Based on a comprehensive retail property transaction records in Hong Kong and a semi-log regression model, our study confirms a positive impact of the number of cross-border shoppers on retail property prices, especially on the value of newer and larger-sized street-level retail shops. Moreover, we find that the effects brought on the retail property market are city-wide and not limited to specific districts which are relatively closer to the border with Shenzhen and with a higher degree of accessibility by these cross-border shoppers. This paper is limited by a number of assumptions including travel distance of the shoppers from Shenzhen. Nevertheless, with an increase in personal travels by the affluent Mainland Chinese citizens who usually spend a lot on shopping outside China, future studies can be made in other North American or European cities for comparison.-
dc.languageeng-
dc.publisherRoutledge. The Journal's web site is located at http://www.tandf.co.uk/journals/titles/09599916.asp-
dc.relation.ispartofJournal of Property Research-
dc.rightsPreprint: This is an Author's Original Manuscript of an article published by Taylor & Francis Group in [JOURNAL TITLE] on [date of publication], available online: http://www.tandfonline.com/doi/abs/[Article DOI]. Postprint: This is an Accepted Manuscript of an article published by Taylor & Francis Group in [JOURNAL TITLE] on [date of publication], available online at: http://www.tandfonline.com/doi/abs/[Article DOI]. -
dc.subjectCross-border shoppers-
dc.subjectborder entry control-
dc.subjecttourism policy-
dc.subjectretail property market-
dc.titleThe impacts of cross-border tourists on local retail property market: an empirical analysis of Hong Kong-
dc.typeArticle-
dc.identifier.emailLi, LH: lhli@hku.hk-
dc.identifier.authorityLi, LH=rp01010-
dc.identifier.doi10.1080/09599916.2018.1511628-
dc.identifier.scopuseid_2-s2.0-85053399839-
dc.identifier.hkuros289776-
dc.identifier.isiWOS:000457530000004-
dc.publisher.placeUnited Kingdom-
dc.identifier.issnl0959-9916-

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