Abstract
Foreign investment has played an important role in the development of tourism worldwide but analysis of its impacts has been neglected. This paper provides an overview of foreign investment in Australian tourism focusing on its levels and patterns. The various motives for foreign investment in tourism can be explained using the widely accepted Eclectic Paradigm of international production. The paper proceeds to clarify some of the impacts. After distinguishing between illusory and real impacts in Australia, the paper concludes with a discussion of the likely benefits and costs of additional foreign investment in tourism for both developed and developing nations.
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