Transit-oriented development as a catalyst for urban economic growth: evidence from the Chaoyang district of Beijing

This study examines the perceived economic impacts of transit-oriented development (TOD) in the Chaoyang District of Beijing by focusing on three critical outcomes: property value (PV), business growth (BG), and employment opportunities (EO). Despite extensive policy support for TOD, empirical evidence capturing how local economic actors perceive its economic impacts remains limited, particularly in rapidly urbanizing cities in developing contexts. This study investigates how small business owners perceive the influence of key TOD characteristics on local perceived economic outcomes. Using survey data from 2,346 respondents, six TOD dimensions accessibility, density, land-use mix, walkability, service quality, and proximity to transit stations were examined using a Partial Least Squares Structural Equation Modeling (PLS-SEM) framework. The results indicate that all TOD dimensions are positively associated, in the perception of respondents, with PV, BG, and EO. Among these factors, density shows the strongest association with perceived PV, while accessibility and proximity to transit demonstrate comparatively stronger links with perceived EO and BG. Overall, the findings suggest that TOD characteristics are consistently associated with favorable economic perceptions among local business actors. By adopting a perception-based analytical approach, this study contributes theoretically by extending TOD research beyond objective indicators and practically by offering policy-relevant insights into how TOD benefits are interpreted in high-density urban settings.