FACTORS OF INVESTMENT ATTRACTIVENESS IN THE TOURISM INDUSTRY: AN EMPIRICAL REGIONAL STUDY

Abstract

This paper examines the key factors influencing the investment attractiveness of the tourism industry at the regional level. The relevance of the study lies in the need for a deeper understanding of the conditions that shape investment inflows into tourism, particularly in regions with high yet underutilized potential.

The aim of the study is to identify and evaluate the main factors determining investment attractiveness in the tourism sector, taking into account regional characteristics and tourists’ perceptions. A quantitative approach was employed: a survey of tourists was conducted (N = 100), and the data were processed using descriptive statistics, reliability analysis, comparative analysis, and correlation analysis in IBM SPSS Statistics.

The findings indicate that infrastructure-related factors have the strongest influence on perceived investment attractiveness, while innovation factors demonstrate the lowest impact. Socio-cultural and economic factors also play a significant role but are secondary to infrastructure. A statistically significant positive relationship was identified between the level of infrastructure development and overall regional attractiveness (r = 0.62; p < 0.001).

The results suggest the existence of a hierarchical structure of investment attractiveness factors, where fundamental conditions serve as the primary drivers. The practical significance of the study lies in the potential application of its findings in the development of regional investment policies and tourism development strategies.