Abstract: Taking 31 provinces as the geographical observational units, this paper describes spatial-time differentiation features, influencing factors and mechanism of tourism investment from 1999 to 2015 by using ESDA and GWR analysis methods. The results are as follows:(1)During the period of investigation, the level of tourism investment scale and the investment efficiency rose rapidly, but the difference of regions are significant. The Eastern region remains dominant and the Central region and the Western region follow up rapidly.(2)The tourism investment level shows a strong spatial negative correlation, that is to say, the provinces with high-level of tourism investment and the provinces with lower-level of tourism investment show the situation of big mixed-race and small agglomeration in the spatial distribution.(3)The spatial correlation of tourism investment is weakening, which shows that the spatial concentration of tourism investment in various provinces is declining, the investment of tourism gradually tends to be scattered in space, in other words, the high-level and low-level provinces show the spatial distribution and heterogeneity.(4)The impact of various factors on tourism investment level is characterized by spatial heterogeneity. Among them, economic growth and financial development are the most crucial driver of tourism investment level, and the contribution of the former is higher than the latter.