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Vacation homes and regional economic development

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  • Nicholas Sheard

Abstract

This paper studies the relationship between vacation homes and regional development. Vacation homes are often in peripheral regions with relatively low standards of living. Seasonal residents contribute income to these areas but make local housing costlier and may have negative effects on local housing, labour, and product markets. The paper introduces a model that demonstrates how demand for housing from seasonal residents affects the welfare of local residents. It then studies the effects of a Norwegian policy that obliges homeowners in certain municipalities to reside on their properties. The policy is shown to increase local population, employment, wages and house prices.

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  • Nicholas Sheard, 2019. "Vacation homes and regional economic development," Regional Studies, Taylor & Francis Journals, vol. 53(12), pages 1696-1709, December.
    • Handle: RePEc:taf:regstd:v:53:y:2019:i:12:p:1696-1709
    DOI: 10.1080/00343404.2019.1605440
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    Cited by:

    1. David Boto-García & José Francisco Baños Pino, 2024. "The economics of second-home tourism: Are there expenditure reallocation effects from accommodation savings?," Tourism Economics, , vol. 30(4), pages 969-995, June.
    2. Amsale K. Temesgen, 2020. "Building an Island of Sustainability in a Sea of Unsustainability? A Study of Two Ecovillages," Sustainability, MDPI, vol. 12(24), pages 1-27, December.

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