Second home owner - is it new money?

Feifei Zhang

January 20, 2023 06:12

I'm going to survey the visitors who come to my city to snowplay. It's a popular winter destination and many people own second homes here. I want to differentiate visitors from local residents so I only calculate the "new money". Are second home owners considered as outside visitors? Or is a percentage of their spending considered as "new money"?

Another question, when I ask expenditures, I asked their spending on gasoline. In order to acknowledge electric car owners, I also want to add the question of spending on charging. Which IMPLAN sector should that be in? Thank you!

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Michael Nealy
January 23, 2023 15:26

Hello!

When you say second home owners, I assume you are referring to visitors to the region whose permanent residence is outside of city you are analyzing, but who own property and vacation there. If this is the case, then you can absolutely count their spending as visitor impacts! The most straight forward approach to model these impacts would be to model the purchases that second home owners make when they are in the region for visiting. This will be similar to that of other tourists to the region, with some minor differences in spending such as eating out less and cooking at home (less full service restaurant spending couple with more grocery spending).

On your next question regarding electric vehicle charging, the operations of those charging facilities would usually fall under Industry - 408 Retail - Gasoline stores or whatever business is operating the station.

Hope this helps!

Michael Nealy

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