International tourism investment in Eastern Europe has increased markedly
since the end of the Cold War, creating some unique challenges for Western
hospitality firms. A survey was sent to the legal counsel of international hotel firms
present in the former Eastern Bloc countries of the Czech Republic, Hungary,
Poland, and the Russian Federation. Legal and nonlegal reasons for investment in these countries are reported as a result of the survey. Legal investment catalysts
include mutually beneficial profit repatriation codes; the regulation of national
taxation of profits; equitable customs exemptions and tariff incentives; and the
cooperation of local government. Nonlegal aids to investment include currency
convertibility as well as political and economic stabilization.
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