Country Selection for New Business Venturing: A Multiple Criteria Decision Analysis

Venturing into international markets has become increasingly common for firms of all sizes. Selecting a country in which to establish a new business venture is a significant and important managerial decision, and requires the evaluation of many criteria. To date, studies that focus on identifying a country for foreign direct investment list the factors one must consider, but the formal use of Multiple Criteria Decision Analysis (MCDA) methods has not been revealed in the literature. This article illustrates how the use of MCDA can facilitate the decisionmaking process on which country to venture into.