Impacts of red tide in peer-to-peer accommodations: A multi-regional input-output model

Increases in the incidence or severity of hazard events significantly alter the attractiveness of tourism destinations and tourism inflow. In 2018, a significant red tide event limited access to marine and coastal areas in Florida, heavily impacting the tourist sector. The purpose of this study was...

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Bibliographic Details
Published in:Tourism economics : the business and finance of tourism and recreation 2023-05, Vol.29 (3), p.812-834
Main Authors: Ferreira, João-Pedro, Bijen Saha, Bijeta, Carrero, Gabriel Cardoso, Kim, Jinwon, Court, Christa
Format: Article
Language:English
Subjects:
Coastal areas
Coastal zone
Decision making
Destinations
Economic impact
Peers
Policy making
Red tides
Sales
Tourism
Water
Water analysis
Water sampling
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Summary:Increases in the incidence or severity of hazard events significantly alter the attractiveness of tourism destinations and tourism inflow. In 2018, a significant red tide event limited access to marine and coastal areas in Florida, heavily impacting the tourist sector. The purpose of this study was to estimate the economic impacts of red tides in the state economy through the shock in the Airbnb market. We combined microdata on Airbnb properties and water sample records and estimated that water sample indicating the presence of red tide conditions within a county decreases the average daily rate price of Airbnb rentals by $0.45 and the number of reservation days by 345. This event generated $317 million in sales revenue losses and resulted in the loss of nearly 2900 job-years throughout Florida. Knowledge of such consequences is essential to inform decision-making processes for policy makers and tourism management professionals.
ISSN:1354-8166
2044-0375
DOI:10.1177/13548166211068276