Investment in Familiar Territory: Tourism and New Foreign Direct Investment
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Douglas M. Sanford [1] ; HUIPING DONG [1]
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[1] George Washington University
George Washington University
Estados Unidos
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- Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 6, Nº. 3, 2000, págs. 205-219
- Idioma: inglés
- Texto completo no disponible (Saber más ...)
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Resumen
This article investigates the influence of tourism on foreign directinvestment. Firms’ foreign direct investment (FDI ) decisions require detailed information about the host country’ s competitors, regulatory environment, work ethic, and culture. Incorporating tourism im-proves on existing research into FDI, which does not include meas-ures for this complex information. Empirical analysis using a TOBIT methodology shows a positive and significant relationship between tourism and subsequent new foreign direct investment in the USA.Surprisingly, the analysis does not support expected industry-specific effects, which suggests that tourism associates with increased invest-ment in capital-intensive as well as service industries.
