%0 Report
        %A Páscoa, Jorge
%A Peralta, Susana
%A Santos, João Pereira dos
        %T Touristification and the Unequal Incidence of Housing Shocks: Evidence from Tax Records
        %D 2026
        %8 2026 May
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 18666
        %U https://www.iza.org/index.php/publications/dp18666
        %X Touristification has emerged as a transformative yet contentious force in urban economies, creating both economic opportunities and displacement pressures. We estimate the impact of a rapid touristification boom on residential mobility, household income levels, and income composition in two European cities heavily exposed to tourism pressure. Using administrative tax records from 2016-2019 and an instrumental variable strategy based on proximity to tourist amenities, we show that short-term rental expansion significantly increased out-migration rates, particularly among lower-income residents and tenants. While incumbent homeowners who remain in highly touristified areas experience income gains, movers exhibit weaker labour-market outcomes. Our findings highlight the highly unequal incidence of tourism-driven housing shocks.
        %K short-term rental
%K household income
%K displacement
%K inequality