Events are no longer supplementary experiences in tourism—they are central to attracting visitors, enriching local culture, and boosting the creative economy. The tourism offer, within the context of modern tourism development, is both quantitatively and qualitatively diverse, aiming to develop in a sustainable way, highlighting tourism’s essential contribution to sustainable development. Tourism events represent an essential component of the tourism sector, offering opportunities to attract visitors and foster the growth of the creative industries. Tourism destinations experiencing high levels of visitation should adopt a responsible approach to event planning and development strategies, ensuring these events positively contribute to the local environment and community. This paper utilizes a mixed-methods approach, integrating quantitative and qualitative research methods to examine the role and potential of tourism events in the framework of sustainable tourism development, based on a case study of Zlatibor, Serbia’s most visited mountain destination. The research findings indicates that the favorable tourism-geographical positioning of mountain destinations - illustrated by the case example of Zlatibor as the most visited destination in Serbia - enables the diversification of sustainable tourism forms beyond winter tourism. Furthermore, the potential of cultural heritage and traditional festivals is shown to significantly contribute to the sustainable and high-quality development of destinations. These events serve not only as attractions but, also, as catalysts for innovation and cultural production, solidifying their role within the creative economy.