Touristification and the Unequal Incidence of Housing Shocks: Evidence from Tax Records

Páscoa, Jorge (), Susana Peralta () and Pereira dos Santos, João ()
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Páscoa, Jorge: Nova SBE
Susana Peralta: Nova SBE
Pereira dos Santos, João: ISEG

No 18666, IZA Discussion Papers from IZA Network @ LISER

Abstract: Touristification has emerged as a transformative yet contentious force in urban economies, creating both economic opportunities and displacement pressures. We estimate the impact of a rapid touristification boom on residential mobility, household income levels, and income composition in two European cities heavily exposed to tourism pressure. Using administrative tax records from 2016-2019 and an instrumental variable strategy based on proximity to tourist amenities, we show that short-term rental expansion significantly increased out-migration rates, particularly among lower-income residents and tenants. While incumbent homeowners who remain in highly touristified areas experience income gains, movers exhibit weaker labour-market outcomes. Our findings highlight the highly unequal incidence of tourism-driven housing shocks.

Keywords: short-term rental; household income; displacement; inequality (search for similar items in EconPapers)
JEL-codes: C36 D63 R23 R31 Z38 (search for similar items in EconPapers)
Date: 2026-05
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