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Analyzing the influence of Airbnb announcements in the Asia Pacific Region: a sectoral perspective on travel, tourism, and real estate

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  • Tchai Tavor

    (The Max Stern Yezreel Valley College)

Abstract

This study examines the financial impact of Airbnb announcements on stock indices in the travel and tourism and real estate industries within the Asia Pacific region. Utilizing an event study methodology, the research reveals distinct sectoral responses. The travel and tourism industry consistently experiences negative effects, indicating competitive pressures and a shift in consumer preferences towards alternative accommodations. Conversely, the real estate sector shows positive effects, reflecting new business opportunities in the short-term rental market. Regression analysis highlights the significant influence of macroeconomic variables such as GDP per capita, interest rates, and exchange rates on abnormal returns. The findings suggest that while Airbnb disrupts traditional travel and tourism sectors, it simultaneously stimulates growth in the real estate market. These results underscore the importance of considering both industry-specific dynamics and broader economic conditions when assessing the financial impacts of corporate announcements. The study contributes to a deeper understanding of Airbnb’s role in shaping market dynamics in the Asia Pacific region, offering insights for investors and policymakers.

Suggested Citation

  • Tchai Tavor, 2024. "Analyzing the influence of Airbnb announcements in the Asia Pacific Region: a sectoral perspective on travel, tourism, and real estate," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 14(4), pages 873-905, December.
    • Handle: RePEc:spr:eurase:v:14:y:2024:i:4:d:10.1007_s40822-024-00289-5
    DOI: 10.1007/s40822-024-00289-5
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    Keywords

    Airbnb announcements; Asia Pacific Region; Travel and tourism industry; Real estate sector; Investment strategies;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • R33 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Nonagricultural and Nonresidential Real Estate Markets
    • C58 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Financial Econometrics

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