ABSTRACTSocial and economic transformations, linked to changes in value systems, have led to a relative shift from mass tourism to new forms of holiday‐taking, including rural vacations. These trends are illustrated by a case study of Portugal, which experienced a massive growth of tourism, especially in coastal areas, from the 1960s. To some degree, this supplemented an older tourism tradition, based on inland spas. The growth of ‘green’ tourism in recent decades, facilitated by social and economic changes, has led to the revival of many such spa towns, as well as the emergence of new forms of rural tourism such as farm tourism,turismo da habitaçâoand hunting activity holidays. The overall impact of these new forms of tourism on rural development is, however, limited, and it should be considered as one strategy, among many others, for economic diversif