PERCEPTIONS OF FOREIGN INVESTORS ON THE TOURISM MARKET IN CENTRAL ASIA - Tourism in Central Asia: Cultural Potential and Challenges - page 323

TABLE 5 Regression analysis: prediction of perceived overall investment conditions.

Variables Kyrgyzstan Kazakhstan Uzbekistan Turkmenistan

b coeff. (sig.) b coeff. (sig.) b coeff. (sig.) b coeff. (sig.)

Investment consideration
General investment conditions .218 .642* 0.068 -.371*

(148) (.000) (0.649) (.028)

Incentives -.268* -222 .000 .105

(.071) (.137) (1.000) (.517)

Workforce conditions .575*

(.000)

(-.062)
(.599)

.354*
(.004)

.573*
(.000)

Tourism specific investment
consideration
Areas of direct tourism facili-
ties

.159 .044 .045 .176

(.196) (.723) (.712) (.198)

Areas of tourism support fa-
cilities

-.375* -.048 .192 .078

(.019) (.758) (.219) (.651)

Sustainability investment con-
sideration
Positive investment conditions
for sustainability

-.216 .145 -.310* -.141

(.139) (.322) (.036) (.380)

Attractive Investment cost .443* .442* .544* .240*

(.001) (.001) (.000) (.078)

Adjusted R 2 0.456 0.448 0.458 0.335

F-test value 8.194 7.946 8.248 5.314

F-test sig. .00 .00 .00 .00

Dependent variable: overall investment condition; 1 - not good condition at all, 2 -
slightly good condition, 3 - somewhat good, 4 - good, and 5 - very good.
“*” indicates significant level at 0.05 or better probability level.

REGRESSION ANALYSIS

In order to further understand and predict overall investment condi-
tions for each of the four CAS countries—Kyrgyzstan, Kazakhstan,
Uzbekistan and Turkmenistan (as a function of general investment,