Festivals have always been an important part of human culture and have evolved and adapted to different cultures. They play a significant role in the development of tourist destinations by attracting numerous visitors, stimulating the local economy and tourism, promoting cultural diversity, and contributing to the richness of the local community through cultural, musical, gastronomic, and sports events, which ultimately leads to strengthening the local economy and cultural identity. This thesis aims to explore the impact of festivals and events on the development of tourist destinations, focusing on the „Zlatne žice Slavonije“ festival, held annually at the beginning of September in Požega. The research and analysis conducted in the paper examine the challenges in the promotion and organization of the „Zlatne žice Slavonije“ festival, while also proposing potential solutions to these issues and identifying opportunities for improving the festival itself. "Zlatne žice Slavonije" has great potential for tourism development in Požega and the region as one of the largest tamburitza festivals in the Republic of Croatia. To maximize the festival's capacity, it is necessary to address financial challenges, enhance marketing strategies, and introduce diversity into the program to attract all age groups, not just older visitors. Through strategic planning, promotion, and diversification of programs and content, the festival can contribute to sustainable tourism development and the preservation of cultural heritage. By creating a diverse program that includes tamburitza music, workshops, exhibitions, and tours, the festival can attract a wider audience and extend visitors' stay in the region, thereby increasing the economic impact on the local community.