入境游与外商来华投资研究：基于文化差异视角的分析

Abstract:To from the perspective of cultural differences，the analysis of the effect of inbound foreign investment decisions in China，this paper constructs the theoretical model on the impact of tourism on transnational investment，and choose from 22 countries such as Russia，Canada，India，the number of tourist arrivals as proxy variable of inbound scale，from the Angle of probability and investment scale，The paper estimates the impact of inbound tourism scale on foreign investment in China and verifies the mechanism. The results show that the increase of the scale of inbound tourism can reduce the cost of cultural transactions and promote the probability and scale of foreign investment in China. Inbound tourism with different purposes has different influences on foreign investment in China，among which business tourism and sightseeing tourism have the most obvious effects. For countries with low trust level，the impact of inbound tourism on their enterprises’ investment in China is more significant. Therefore，China should actively play the important role of inbound tourism in attracting foreign investment in China，make full use of domestic tourism resources and attract more foreign enterprises to invest in China.

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