Tourism and real estate are two highly different industries, which however correlates with one another. Tourism refers to people visiting a certain place of interest during their vacation, where their stay will mostly be short-term. The correlation between tourism and real estate was noticed during the 90s, where developments combining both elements were introduced
Over the last few years second-home tourism has become more popular, emerging as an important part of the tourism sector in a number of countries. In most cases second homes are located near attractive locations, such as the sea, lakes, mountains or ruralareas and urban areas, whilst often they have a connection to their owners’ origins and may be inherited properties.
Definitions of second-home tourism and residential tourism, and key stakeholders
The definition of second-home tourism is based on two main aspects:
- The type of tourist dwelling where tourists stay, which may be privately owned, rented or cost-free (visiting relatives or friends)
- Frequent return to the same holiday place.
Generally, second-home tourists live in privately owned or rented dwellings, and have particular characteristics.They return to the same place for leisure time, and thus demonstrate great knowledge of, loyalty towards and appreciation of the destination
They often make friends or have relatives in the location, establish close links with the destination and are committed to the sustainability of the place. Second-home tourists spend long periods of time at the destination where they purchase their house.
Such periods of time are long compared to the other forms of tourism, but are obviously less than a year at a time – otherwise the individuals concerned would not be considered tourists.