Game of Thrones and Tourism Impacts on Croatian Housing Prices
Economics, Finance and Quantitative Analysis
The Game of Thrones television program was widely seen throughout the world. The show acted as an advertisement for travel and home purchases in the Republic of Croatia. A hedonic least squares regression model adjusted for autocorrelation is used to consider the impact of the television show, tourist visits to the country, and domestic personal income on the housing price index. The descriptive statistics and regression results suggest that the television show and tourism impact existing housing prices. Visitors to the country purchased or rented enough housing to cause demand to increase for residential properties, which results in a higher housing price index. Per capita domestic income is not a significant factor influencing the housing price index for existing dwellings.
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