The Tourism industry has significantly contributed to diverse social and economic benefits in host communities or regions. Despite the gains that have been realized in the sector, a surging number of negative impacts has been associated with tourism development. This current study reviewed the literature on the economic, social and environmental impacts of tourism. Tourism has helped boost economic growth, increased the revenue base, created mass employment, and enhanced the development of small and medium size enterprises in host regions. Despite its positive economic strides, it has contributed to negative outcomes such as the increase in commodities prices, high cost of living and unstable tenure of service in host communities. Tourism development has resulted in positive socio-cultural impacts such as infrastructural development, and cultural exchanges. Nevertheless, it has led to socio-cultural problems, including congestion, soaring crime rates, resentment and conflicts in host communities. On the environment front, tourism has created profoundly disappointing environmental problems. These include carbon emissions, ecological disturbances and waste management problems. The aforementioned environmental problems depend on the type and scale of tourism and the level of environmental awareness of inbound tourists. To maximize the gains of tourism development, its development initiatives must explicitly consider the social and environmental dimensions. Also, the involvement of host communities in tourism planning is pivotal to sustainable tourism development.