Results of Developing a Qualitative Scale on “Resource Advantage” Symbol Name of the Measuring Variable Source

With the results of the survey and in-depth interviews above, the author used those results for group discussions with experts and experienced tourism investors.

Based on the results of group discussions, along with a system of measurement variables that the author has synthesized from background theory and previous empirical studies to present to experts and investors for discussion and consensus. The results of the measurement variables are shown in the following table.

Table 3.7 Results of developing a qualitative scale on “Resource advantage” Symbol Name of measurement variable Source

Papeditor (2001);

TN1 Land with coastal system and many islands

beautiful island with potential for tourism development

TN2 Unique forest ecosystem and diverse fauna have potential for tourism development

TN3 The land has a fresh and cool climate suitable for tourism development.

TN4 Historical sites, museums, impressive monuments with the potential to attract and develop tourism

TN5 Cultural events and festivals attract many tourists, creating opportunities for investment in tourism development.

TN6 Diverse and attractive cuisine, attracting many tourists.

Attractive entertainment activities attract many tourists

Polyzos & Arabatzis (2006); Polyzos and Minetos (2011)

Aykut et al. (2004); Polyzos (2002); Snyman and Saayman (2009).

Survey form

Komilis (1986); Polyzos and Minetos (2011)

Yang and Fik, 2011; Zhang et al., 2012; Puciato (2016)

Survey form

TN7

guests (nightlife, restaurants, casinos, night markets...)

In-depth interviews

Source: Author's synthesis from research and group discussions

Based on the above results, we can see that from the survey results and in-depth interviews, there are many proposals for variables measuring resource advantage factors. However, these variables are basically similar in content to the variables proposed by previous empirical studies. This has been agreed and unified by experts and experienced investors in the group discussion.

We continue to consider the survey results of the variables measuring the proposed factor “tourism infrastructure” as follows:

Table 3.8 Survey results and in-depth interviews on the factor “Tourism infrastructure”

Measurement variable name	Source
1	Good and convenient railway system	Survey form
2	Beautiful, polite and modern airport port system	Survey form
3	Good communication infrastructure	Survey form
4	Good traffic system and roads	Survey form
5	Many public transportation options and high quality	In-depth interviews
6	Banks develop global payment services	In-depth interviews
7	Good quality internet infrastructure	Survey form
8	Good public facilities (electricity, water, sanitation, ATMs...)	Survey form
9	Good social facilities (many support services)	Survey form

Maybe you are interested!

Source: Author compiled from survey and in-depth interviews

With the above results, the author also conducted a similar group discussion as above and the results were agreed by expert groups and investors with previous studies (although the proposals have different wording, the content is basically the same due to different expressions).

Table 3.9 Results of developing qualitative scale on “Infrastructure” Symbol Name of measurement variable Source

HT1 The local transportation system (bridges, wharves, yards, vehicles...) is favorable for tourism development.

HT2 The transportation system connecting that locality with other areas is convenient for tourism development.

HT3 The local public services are good (electricity, water, healthcare, sanitation, public services, ATMs...)

HT4 There are many local banks that provide full international payment and transaction methods.

Aykut et al. (2004); Dunning (2002)

Kayam (2009); Artuğer et al. (2013); Beerli and Martin (2004)

Kayam (2009)

Source: Author's synthesis from research and group discussions

Continuing to review the survey results and in-depth interviews with the factors: "Potential tourism market" is proposed as follows:

Table 3.10: Survey results and in-depth interviews on the factor “Potential market”

TT Name of measurement variable Source

	tourism increase
2	Emerging expansion market	Survey form
3	Big travel spending pattern	In-depth interviews
4	Area of tourist attraction	Survey form
5	Interest rates, foreign exchange	Survey form
6	Number of hotels and resorts currently in that area	Survey form
7	Historical Returns	Survey form
8	History of competition in that area	Survey form
9	High profit expectations	Survey form
10	Performance of the hotel industry	Survey form

1 Tourism Industry Growth; Demand and Supply

Survey form

11 Government spending on tourism and tourism programs

In-depth interviews

12 Availability of Investment Land In-depth Interview

13 Foreign Ownership Ratio In-depth Interview

14 Inflation In-depth Interview

15 Interest Rate and Economic Risks In-depth Interview

Source: Author compiled from survey and in-depth interviews

Based on the results of the group discussion, experts and investors based on the author's previous research summary table, the 15 proposed measurement variables above were grouped into 6 main variables. These variables are more concise and easier to understand, and compared to the measurement variables of previous empirical studies, there are almost no new measurement variables.

Table 3.11 Results of developing a qualitative scale on “Economic advantage” Symbol Name of measurement variable Source

KT1 The number of tourists coming to that locality is large.

KT2 That area has high tourism profit statistics

KT3 High growth rate of tourism industry

KT4 Easy access to regional and global markets

Local welcome to

Dunning (2002); Anil et al. (2014);

Puciato et al. (2017)

Dunning (2002); Anil et al. (2014); Puciato et al. (2017)

Sun (2002); Dunning (2002); Aykut and Ratha (2004); Anil et al. (2014).

Naude and Krugell (2007); Snyman and Saayman (2009); Assaf et al. (2015). Dunning (2002); Snyman and Saayman

KT5

KT6

tourists and investors

The average spending of tourists in that province is high.

(2009); Villaverde and Maza (2015);

Assaf et al. (2015b)

Dunning (2002); Snyman and Saayman (2009); Villaverde and Maza (2015); Assaf et al. (2015)

Source: Author's synthesis from research and group discussions

Continue to consider the results of the proposed measurement variable for the factor "Tourism investment environment" . With the following results:

Table 3.12 Survey results and in-depth interviews on the factor “Investment environment”

Measurement variable name	Source
1	Informal costs	In-depth interviews
2	Local post-investment support services	Survey form
3	Local welcome of tourism investment	Survey form
4	Local support with enthusiastic information	Survey form

5 Information network about tourism, about tourism projects of

Local information is widely published, easy to find, easy to access

In-depth interviews

6 The level of competition in that locality is low Survey form

7 The quality of local labor training meets the needs of businesses well and is cheap.

In-depth interviews

8 Quick and One-Stop Investment Procedures Survey Form

9 Enthusiastic support for local investment legal procedures Survey form

10 Transparency and Accessibility of Information In-depth Interviews

Source: Author compiled from survey and in-depth interviews

Based on the survey table in table 3.12 we can see that experts and

The investment list lists 10 key factors, but it is still not complete. There is still a lack of measurement variables.

such as the fairness of the local government and courts; the government is active and flexible in resolving and supporting businesses as quickly as possible. These two measurement variables were pointed out by the author when reviewing the PCI 2018 survey, and this was agreed upon by experts and investors in the group discussion.

Table 3.13 Results of developing a qualitative scale on “Investment environment” Symbol Name of measurement variable Source

MT1 Locality has available land and space and always creates

conditions for land allocation to enterprises for long-term lease.

Local authorities and courts resolve

UNCTAD (2006); Masron and

Shahbudin (2010).

The Government of Ontario (2009)

MT2

MT3

MT4

MT5

MT6

Dispute and complaint handling quickly and fairly

Local authorities are proactive and flexible in legal activities, administrative procedures... to create the fastest possible conditions for businesses.

Government support services facilitate tourism businesses (legal advice, market research, trade promotion, technology support, security...). Transparency and accessibility to information on investment, land, policies, services... in that locality are very easy.

Time costs to implement short-term state regulations (administrative procedures, inspections...)

only stop at qualitative research.

UNCTAD (2006); Masron and Shahbudin (2010); Lu et al. (2011); Villaverde & Maza (2015).

The Government of Ontario (2009) stopped at qualitative research.

MT7 Informal costs in this area are low The Government of Ontario (2009);

Villaverde and Maza (2015).

MT8

MT9

The level of competition in that locality is low and equal.

The quality of local labor is well trained to meet the needs of businesses.

Dunning (2002); Snyman and Saayman (2009); Villaverde and Maza (2015); Assaf et al. (2015)

Dunning (2002); Vietnam PCI Survey 2018.

MT10 Low market entry costs (time to complete procedures, licensing…)

The Government of Ontario (2009) stopped at qualitative research.

Source: Author's synthesis from research and group discussions

Among the 10 criteria of the PCI index, variable MT10 seems to have overlapping content with variable MT6, however, the author still agrees to keep it the same to survey and evaluate the scale for the pilot survey.

Continue to review the proposed results of measurement variables for the factor “Cost advantage”

Table 3.14 Survey results and in-depth interviews on the factor “ Cost advantage ” No. Name of measured variable Source

1 The quality of local labor has the qualifications to meet the requirements of the business.

Survey form

2 Labor laws in accordance with international general regulations Survey form

3 Local labor costs are low, easy to hire workers

local movement

4 The labor awareness and discipline of local workers are very good.

Survey form

5 Available and cheap materials Survey form

6 Near the source of raw materials that the business wants to find Survey form

7 Availability and completeness of ancillary services for businesses before and after investment

8 Cost of using infrastructure to serve businesses before and after investment

Survey form

9 Low Land Rental Costs and Long-Term Leases In-Depth Interviews

10 Investment incentives on tax, land, other costs... In-depth interview

11 Reduce shipping costs In-depth interviews

Source: Author compiled from survey and in-depth interviews

With the above results, the author conducted a group discussion and compared with previous studies, and there were almost no new measurement variables.

Table 3.15 Results of developing a qualitative scale on “Cost advantage” Symbol Name of measurement variable Source

CP1

CP2

CP3

Businesses can easily access cheap input materials.

The locality has many budget incentives (income tax, VAT, site clearance, etc.)

Localities that have preferential land rent and business premises for enterprises are better than other localities.

Dunning (2002); Vichea (2005); Anil et al. (2014); Puciato et al. (2017)

Dunning (2002); Snyman and Saayman (2009); Assaf et al. (2015); Puciato et al. (2017) Dunning (2002); Snyman and Saayman (2009); Assaf et al. (2015); Puciato et al. (2017)

CP4 Reduce shipping costs and other expenses for businesses

Dunning (2002)

Source: Author's synthesis from research and group discussions

Regarding the dependent variable scale, the author conducted a group discussion with experts and investors. Basically, they agreed with the measurement variables that have been studied before. However, there is one variable, the quality of cheap labor, but it is in the PCI index.

– The investment environment is already there, so the author agrees with the experts not to put it in the cost advantage section.

Continue to review the results of the proposed measurement variables for the factor “Attractiveness”

tourism investment destination”

Table 3.16 Results of survey and in-depth interviews of factors

“Attractiveness of tourism investment destination”

TT Name of measurement variable Source

1 The business will have high revenue in a locality with good investment attractiveness

2 Businesses will be profitable if they invest in localities with good investment attractiveness.

Survey form

3 That locality is very attractive for tourism investment Survey form

4 That locality has a lot of potential for tourism development Survey form

5 Localities with Many Cost Advantages for Businesses to Invest in

6 That locality has many attractive tourist resources.

invest

Survey form

7 That locality has a good investment environment Survey form

8 That locality has good infrastructure, which brings investment cost advantages to businesses.

Survey form

9 Investing in tourism in that locality is a good option In-depth interview

10 Overall I think our company is very satisfied with the investment in this locality.

In-depth interviews

11 In general, the locality is very attractive for tourism investment. In-depth interview

Source: Author compiled from survey and in-depth interviews

With the above results, the author conducted a group discussion and compared with previous studies, and there were almost no new measurement variables.

Based on previous studies, measurement variables for the dependent variable: "Attractiveness of investment destination" have been proposed and these variables have been agreed upon by experts and investors in the group discussion.

Table 3.17 Results of developing a qualitative scale on “Destination attractiveness” Symbol Name of measurement variable Source

HD1 I think the company's revenue will grow as expected.

HD2 I think the company's profits will be as expected.

HD3 Investing in local tourism is a good idea

HD4 Overall I think our company is very satisfied with the investment in this locality.

HD5 In general, that locality is very attractive for tourism investment.

Ajzen (1991) Carpenter and Reimers

(2005)

Paramita and Associates

(2018)

Source: author synthesis

Continue to review the results of the proposed measurement variables for the factor "Intention to invest in tourism"

Table 3.18 Survey results and in-depth interviews on the factor “Intention to invest in tourism”

TT Name of measurement variable Source

1 I will invest in a location with high investment attractiveness if possible.

2 I will continue to invest in attractive locations.

high investment

3 I will raise capital to invest immediately in localities with good investment attractiveness.

4 I will introduce my colleagues to invest in this locality.

5 I would speak well of this place to anyone who wants to know more.

Survey Form Survey Form In-depth Interview In-depth Interview

Source: Author compiled from survey and in-depth interviews

Continuing to develop the scale "Investment intention to travel", this scale is similar to the scale "attractiveness of investment destination" almost no experts or investors propose to add more variables besides the variables previously studied.

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