Chinese tourism enterprises’ host country choice for overseas investment: influencing factors, interactive effects, and national heterogeneity

Juan Wang, Jiejie Feng and Jie Zhao

Current Issues in Tourism, 2023, vol. 26, issue 10, 1688-1705

Abstract: Despite being the second-largest overseas investment country and the largest outbound tourist source country in the world, China’s overseas investment in tourism has seldom been discussed. We performed a negative binomial regression on a sample of 73 host countries of China’s overseas tourism investment to systematically identify relevant influencing factors and interactive effects from 2004 to 2018 via national heterogeneity test on countries along the Belt and Road (B&R). Results indicate that, (1) Chinese tourism enterprises’ overseas investment had clear market-seeking and strategy-seeking motivations but no significant tourism resource–seeking motivation. (2) Chinese tourism enterprises’ overseas investment favoured regions with a sound institutional environment, showing significant national heterogeneity in general; specifically, Chinese tourism enterprises’ overseas investment featured an institutional risk preference for countries along the B&R and institutional risk aversion for non-B&R countries.(3) Chinese tourism enterprises’ overseas investment exhibited institutional preferences and path dependence due to multiple investment motivations and bilateral political relations during location selection. Strong and stable bilateral relations were complementary to the host country’s institutional quality, namely mutual high-level government visits. International sister city relations between China and B&R countries could also compensate for the impact of poor bilateral relations on host countries’ institutional quality.

Date: 2023
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://hdl.handle.net/10.1080/13683500.2022.2063712 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:rcitxx:v:26:y:2023:i:10:p:1688-1705

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/rcit20

DOI: 10.1080/13683500.2022.2063712

Access Statistics for this article

Current Issues in Tourism is currently edited by Jennifer Tunstall

More articles in Current Issues in Tourism from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().