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Copyright © 2008, Emerald Group Publishing Limited
AIEST Congress 2008
Article Type: AIEST Congress 2008 From: Tourism Review, Volume 63, Issue 1.
Whistler, Canada, (Winter Olympic Games 2010 Vancouver/Whistler), 7-11 September 2008
Real estate market: impacts on tourism destinations
The rationale for the topic
For some years now there has been a genuine boom in the holiday properties market. Demand is still growing and is rapidly becoming internationalised. There are various drivers of the development such as new residences near golf courses or residential development for retirement.
Entrepreneurs in the property market are investing in the best sites, in both new and traditional destinations. And they have developed new business models designed to make the acquisition of property as attractive as possible.
The strength of this growth in the holiday property market is a major factor for development. At its best this growth makes it possible to create new tourism centres and to revitalise the often rigid and poorly utilised structures of the existing tourism regions. It is also an enabler of urban development and repositioning of destinations. At its worst it results in under-utilisation of beds in the traditional hotel and parahotel accommodation sectors, as well as high rents for local residents and a disruptor of destination appeal and by this a reduction of destination attractiveness.
A relative high share of second homes in a destination is often considered as an indicator that the positive impacts on on the product cycle are disappearing and the destination starts to decline.
Further information about the AIEST Congress 2008 in Whistler/Canada you may find on the web site of AIEST (www.aiest.org) as well about the organisation itself. If you would like to contact AIEST please write an e-mail to: firstname.lastname@example.org
Professor Dr Peter Keller, President of the AIESTProfessor Dr. Thomas Bieger, Secretary General of the AIEST