The article explores key trends in investment management within the sphere of transnational tourism in the context of globalization. The authors emphasize that tourism is one of the most rapidly growing sectors of the global economy, requiring effective investment management to ensure sustainable development, innovation, and competitiveness. The study summarizes current approaches to investment decision-making in a transnational environment, highlighting the unique characteristics of the tourism industry – multiculturalism, infrastructural complexity, long investment cycles, and high sensitivity to external risks. The research focuses on the impact of business transnationalization on investment processes, the role of global corporations, financial institutions, and governments in shaping the new architecture of tourism investment. Strategic management tools such as NPV, IRR, SWOT, and PESTEL analyses, as well as digital technologies including Big Data, blockchain, and mobile platforms, are examined as instruments for improving decision-making. The paper identifies leading regions attracting tourism investments – North America, the EU, and the Asia-Pacific – while also outlining the growth potential in Latin America, Africa, and the Middle East. Special attention is given to ESG investments and sustainable development as major factors influencing tourism financing strategies. The paper analyzes the investment models of top industry players (TUI Group, Marriott, Airbnb), emphasizing their ESG approaches and innovation focus. Risks related to political, economic, environmental, and technological challenges are outlined, along with practical recommendations for stakeholders – businesses, investors, and governments – aimed at improving investment efficiency, strengthening infrastructure, fostering international cooperation, and promoting environmentally responsible tourism. The study also identifies Ukraine’s potential for transnational tourism development through cultural, ecological, medical, and digital tourism. The article provides a comprehensive framework for further academic inquiry and practical application of modern investment management tools in the tourism sector.
Мацука et al. (Wed,) studied this question.