The development of a tourist destination is a complex process taking many factors into account. Some developing countries have focused on the tourism market to accelerate their transition. However, the Republic of Serbia has chosen to put the tourism industry on the back burner for a long period of time, to develop other sectors instead. Nevertheless, tourism can have many positive effects on the country. That is one of the reasons why Serbia has decided to take a greater interest in tourism and is now aiming to attract visitors. This paper examines the impact of tourism development in the Republic of Serbia from a policy, economic and environmental aspect through the study of scientific concepts, data from official sources and surveys.