This study analyses the perceptions and attitudes of national minorities in Serbia towards the impact of ethnic tourism on the preservation of their cultural identity, economic benefits, the reduction of prejudices and the future development of ethnic‐tourism. Using a qualitative approach, semi‐structured interviews were conducted with members of different national minorities: Slovaks, Hungarians, Bosniaks, Ruthenians, Vlachs and Roma. Thematic analysis was used to identify key issues and gain insights into the views of the interviewees. The results show that ethnic tourism contributes significantly to the economic development of these communities by creating jobs and supporting local businesses. Ethnic tourism also plays a key role in the preservation and promotion of cultural heritage through festivals, traditional crafts and gastronomy. Interaction with tourists helps to break down stereotypes and prejudices and promotes mutual understanding and tolerance. However, challenges are also recognised, such as the commercialization of culture and the need for sustainable practices. The importance of this research for Serbia is particularly great, as it is a country with numerous national minorities and the potential for the development of ethnic tourism. Serbia faces prejudices and stereotypes, and ethnic tourism can play a key role in reducing these prejudices and promoting cultural diversity. The results of this research can inform managers and development professionals on how to integrate sustainable practices and cultural identity into tourism strategies and thus promote the long‐term prosperity of national minorities in Serbia.