How geographic, cultural, and institutional distances shape location choices of China’s OFDI in tourism? – an empirical study on B&R countries

This paper examines how bilateral distances shape Chinese enterprises' outward foreign direct investment (OFDI) in tourism in Belt and Road (B&R) countries. The results indicate that while geographic distance is not a key factor explaining the location choice of Chinese tourism OFDI in B&R countries, cultural distance hinders this location choice in a linear and monotonic way. Chinese enterprises prefer B&R countries with a short institutional...