This study aims to conduct a systematic literature review on the interplay between place branding, smart cities and foreign direct investment (FDI) to identify key theoretical perspectives that support FDI attraction and explore future research directions within this emerging field.
A systematic literature review was conducted with Scopus and Web of Science to explore how place branding, smart cities and FDI attraction have been studied together. A final sample of 20 selected articles formed the foundation of this review, revealing three key theoretical perspectives essential for enhancing resource attraction for cities. This review also identified theoretical gaps and provided directions for future research.
Among the main findings, three theoretical perspectives were identified and discussed as emerging trends in the literature that should be managed to enhance FDI attraction to cities: social impact and stakeholder engagement, environmental impact and infrastructure, and economy, politics and local branding. Based on the identified theoretical gaps, a future research agenda is proposed.
In practical terms, this study offers valuable insights to city planners, policymakers and marketing professionals regarding strategies that enhance a city’s attractiveness to foreign investors. Combining place branding with smart city initiatives outlines pathways for promoting economic growth and competitiveness, providing concrete steps for cities aiming to increase FDI inflows.
To the best of the authors’ knowledge, this paper is the first to synthesize current knowledge on the interplay between place branding, smart cities and FDI attraction. It also advances the literature by identifying key theoretical perspectives that enhance FDI attraction to cities. In addition, the systematic review uncovers critical theoretical gaps, shaping a future research agenda and providing valuable guidance for scholars in this field.
