Regional airline capacity, tourism demand and housing prices: A case study of New Zealand

Tsui, KWH; Tan, D; Chow, CKW; Shi, S

Regional airline capacity, tourism demand and housing prices: A case study of New Zealand

Tsui, KWH Tan, D Chow, CKW Shi, S

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Publication Type:: Journal Article
Citation:: Transport Policy, 2019, 77 pp. 8 - 22
Issue Date:: 2019-05-01

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Field	Value	Language
dc.contributor.author	Tsui, KWH	en_US
dc.contributor.author	Tan, D	en_US
dc.contributor.author	Chow, CKW	en_US
dc.contributor.author	Shi, S https://orcid.org/0000-0003-4188-5151	en_US
dc.date.issued	2019-05-01	en_US
dc.identifier.citation	Transport Policy, 2019, 77 pp. 8 - 22	en_US
dc.identifier.issn	0967-070X	en_US
dc.identifier.uri	http://hdl.handle.net/10453/136687
dc.description.abstract	© 2019 Elsevier Ltd Tourism is one of the most important economic activities in New Zealand as tourists commonly travel by air to the various regions of this geographically isolated archipelago. This paper aims to investigate: (i) how regional tourism demand and airline capacity affect each other; and (ii) how both affect the housing prices in New Zealand's smaller regions. The paper empirically examines these inter-relationships between regional tourism demand and air transport, and their joint effects on the housing prices by constructing a three-stage least squares (3SLS) structural model employing a panel dataset of New Zealand's six smaller airports and regions from January 2008 to December 2014. Empirical results showed that increased regional tourism activity raises airline capacity and vice versa. Importantly, domestic airline capacity has a statistically significant impact on regional housing prices but not regional tourist demand (with the exception of Queenstown as a major and popular tourist centre). Policy implications of the key findings for regional tourism and air transport developments are discussed.	en_US
dc.relation.ispartof	Transport Policy	en_US
dc.relation.isbasedon	10.1016/j.tranpol.2019.02.007	en_US
dc.subject.classification	Logistics & Transportation	en_US
dc.title	Regional airline capacity, tourism demand and housing prices: A case study of New Zealand	en_US
dc.type	Journal Article
utslib.citation.volume	77	en_US
utslib.for	1205 Urban and Regional Planning	en_US
utslib.for	1507 Transportation and Freight Services	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building
pubs.organisational-group	/University of Technology Sydney/Faculty of Design, Architecture and Building/School of Built Environment
utslib.copyright.status	closed_access
pubs.publication-status	Published	en_US
pubs.volume	77	en_US

Abstract:

© 2019 Elsevier Ltd Tourism is one of the most important economic activities in New Zealand as tourists commonly travel by air to the various regions of this geographically isolated archipelago. This paper aims to investigate: (i) how regional tourism demand and airline capacity affect each other; and (ii) how both affect the housing prices in New Zealand's smaller regions. The paper empirically examines these inter-relationships between regional tourism demand and air transport, and their joint effects on the housing prices by constructing a three-stage least squares (3SLS) structural model employing a panel dataset of New Zealand's six smaller airports and regions from January 2008 to December 2014. Empirical results showed that increased regional tourism activity raises airline capacity and vice versa. Importantly, domestic airline capacity has a statistically significant impact on regional housing prices but not regional tourist demand (with the exception of Queenstown as a major and popular tourist centre). Policy implications of the key findings for regional tourism and air transport developments are discussed.

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http://hdl.handle.net/10453/136687