Abstract: Based on the hypothetical model of FDI and inbound business tourism, foreign enterprise quantity, foreign direct investment and overseas business tourism time series data in Jiangsu，Zhejiang and Shanghai from 1994 to 2014 are chosen as the research objects to analyze the interaction relationship and difference between FDI and inbound business tourism by using the co-integration analysis, Granger Causality Test and Elastic Coefficient. The research showed that：there is a long-term stable equilibrium relationship and short-term dynamic adjustment relationship between FDI and inbound business tourism; there exists reciprocal causation relationship between the number of foreign enterprises and the IBT in Jiangsu and Zhejiang, and foreign investment is the single Granger reason for IBT; foreign investment and the IBT are reciprocal causation relationship in Shanghai, IBT is the single Granger reason for the number of foreign enterprises;the driving effects of IBT on the number of foreign enterprises are less than those of foreign investment on IBT; the interaction driving effects between FDI and IBT presents the development trend of Shanghai>Jiangsu > Zhejiang，which is closely related to the investment environment and development model of the three regions.

Key words: FDI, IBT, Granger Causality Test, Elasticity Coefficient Analysis