Cross-border tourism presents unique challenges in understanding how service, infrastructure, and price perceptions translate into tourist satisfaction, particularly in emerging destinations. Despite the growing importance of Chinese outbound tourism, limited research has examined the mechanisms through which perceived destination value and cultural distance shape satisfaction. Drawing on Perceived Value Theory (PVT) and Expectancy–Disconfirmation Theory (EDT), this study investigates the influence of tourism service quality (TSQ), destination infrastructure quality (DIQ), and price fairness perception (PFP) on tourist satisfaction (TS), considering the mediating role of perceived destination value (PDV) and the moderating effect of cultural distance perception (CDP). A survey of 400 Chinese tourists who visited Mongolia in the past 12 months was conducted, and data were analysed using Smart-PLS for structural equation modelling. Results reveal a significant negative effect of TSQ on PDV (H1: β = –0.346, t = 4.509, p < 0.001), with DIQ and PFP showing non-significant effects. PDV significantly predicts TS (H4: β = 0.274, t = 2.665, p = 0.008), and fully mediates the TSQ–TS relationship (H9: t = 2.179, p = 0.029). Moreover, CDP negatively moderates the PDV–TS link (H8: β = –0.295, t = 3.361, p = 0.001), indicating that cultural distance attenuates satisfaction even when perceived value is high. These findings highlight the critical role of perceived value as a psychological conduit and the contextual importance of cultural distance in cross-border tourism. The study contributes theoretically by extending PVT and EDT to emerging destinations and practically by guiding tourism stakeholders to prioritize value-oriented service strategies, expectation management, and cultural accommodation to enhance tourist satisfaction