Vacation rental market regulation and accommodation supply growth

• David Boto-García ^[1] ; José Francisco Baños-Pino ^[1] ; Eduardo Del Valle ^[1] ; Inés Sustacha ^[1]
  1. [1] Universidad de Oviedo

     Universidad de Oviedo

     Oviedo, España

     
• Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 29, Nº. 6, 2023, págs. 1551-1576
• Idioma: inglés
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• Resumen

  • Short-term residential vacation rentals (RVRs) have increased their popularity in recent years. Local governments have introduced different regulatory changes to control their supply growth. This paper evaluates a policy intervention in a Northern Spanish destination that has reduced the bureaucratic procedures to officially open a RVR since 2016. We compare the evolution of accommodation growth of RVRs with that of tourist apartments exploiting a panel data set of 78 municipalities between 2013 and 2019. Using difference-in-differences, we provide evidence that the easing of the administrative procedures increased the number of establishments and bed places in RVRs by 5 and 26 units, on average, per municipality.