RT Journal Article
T1 Your room is ready: Tourism and urban revival
A1 Hidalgo, Alberto
AB Tourism is an essential sector of the global economy, contributing significantly to GDP and employment. Despite its importance, our understanding of its impact on urban economic activity remains limited. This paper aims to fill this gap by examining the impact of tourism on urban transformation using a dataset of hotel openings in Madrid from 2001–2010. I show that hotel openings positively impact the number of establishments and employment by using the number of protected buildings as an instrumental variable to account for the non-random distribution of hotel openings. Interestingly, hotel openings contribute to changes in the composition of the economic activities and the business structures, enhancing tourist-oriented corporate-owned businesses over other individual-owned companies. Finally, economic effects extend to the real estate market, increasing rental prices and residential investment.
PB ElSevier
YR 2024
FD 2024-11-01
LK https://hdl.handle.net/20.500.14352/110556
UL https://hdl.handle.net/20.500.14352/110556
LA eng
NO Hidalgo, A. (2024). Your room is ready: Tourism and urban revival. Regional Science and Urban Economics, 104059.
DS Docta Complutense
RD 11 abr 2025