Macroeconomic Environment and Greenfield Foreign Direct Investment of Hotel Brands

Th e powerful attraction of foreign direct investment (FDI) is particularly important for further development of tourism. Th e strategically focused attraction of FDI in tourism has a much higher signifi cance because of the multiple eff ects in relation to other segments of the economy. In this context, it is necessary to highlight the investment engagement and the presence of globally branded luxury hotels. Th e purpose of the study is to assess the macroeconomic environment, the eff ects of greenfi eld FDI in tourism and, consequently, the presence of global hotel brands using the comparative analysis of the selected countries as the methodological basis of this study. Th e research results indicate that a favorable macroeconomic environment plays an important role in attracting foreign capital. Countries that have a more favorable macroeconomic environment attract more greenfi eld FDI, and provide a greater presence of global hotel brands, and thus greater competitiveness. Also, the political stability, the encouraging macroeconomic business conditions, the elimination of administrative and legislative barriers, the elimination of the country’s image as a corrupt destination and tourism staff education at all levels are particularly important for FDI in tourism.