In the third millennium, undoubtedly tourism has been upgraded to one of the thriving bases of the global economy and, on the base of findings, it can be identified as the main economic resource for many countries. Tourism, along with its many benefits, has many negative effects as well; coping with these requires us to rely on a suitable approach and proactive measures by planners and mangers, especially in the public sector. In this article we have attempted to study tourism development approaches, selecting the most suitable approach in relation to local community development. The spectrum of approaches includes the boosterism, economic (industry-oriented), spatial-geographical, community-oriented, and sustainable approaches, all of which have been described and compared, using SWOT analysis. Finally, the most appropriate approach in terms of the development of community-centered tourism has been elaborated.