Purpose -To identify key literature-based tourism development assets and analyze their importance and performance (I/P) from the stakeholders' perspective in order to identify areas where improvements can be made by using appropriate policy measures. Methodology -In the theoretical part of the paper, the relevant literature is reviewed and key assets for tourism development elicited. Through consultations with international tourism expert panel, the list of key assets is generated and used as the basis for importance-performance analysis (IPA). Furthermore, a list of smart, sustainable and inclusive policies was developed through the same process generated. The questionnaire including both lists was sent to key tourism stakeholders in Split-Dalmatia County (SDC), Croatia, to rate the I/P of attributes and impacts of the listed policies on increasing the tourism attractiveness of their respective area/micro region and the SDC itself. The survey is followed by a workshop with presentation, discussion and fine-tuning of results. Findings -IPA reveals differences among assets that need to be prioritized for tourism development of the SDC's micro regions, but common threads are also identified. Furthermore, required policy measures from stakeholders' perspectives are also generated. Contribution -Theoretically, this study synthesizes relevant literature on tourism development assets and generates the list of most relevant assets based on expert panel consultations. The list was the basis for the empirical study conducted through the survey and a workshop. Practically, this study identifies assets/areas that need to be (de)prioritized and generates policy measures for future development of tourism, the most important economic activity in SDC.