This work analyzes how regional tourism dynamics (demand, provide and specialization) and innovation efficiency might affect tourism competitiveness. The novelty and originality of the evaluation is the inclusion of facets associated to the sectorial precedence choices outlined inside sensible specialization methods in European areas as potential explanatory elements. By utilizing a panel information mannequin and specializing in areas the place tourism is without doubt one of the precedence sectors for Regional Innovation Methods (RIS3, 2014–2020), the outcomes reveal optimistic impacts of tourism demand, provide and specialization on the worth added produced by tourism actions. Furthermore, immaterial facets associated to the qualification of the regional labor drive and innovation dynamics (funding in analysis in improvement) additionally exert a optimistic impression on tourism competitiveness. The novel outcomes obtained concerning the impacts of sensible specialization methods present a excessive potential of the tourism sector to learn from geographical, cultural and institutional types of proximity. The outcomes additionally counsel that information externalities arising from interactions with each associated or unrelated sectors—by exploiting interactions and connectivity with sectors with each high and low cognitive distances—might emerge.